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14 May 10
12:06
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Date Joined:
30 Oct 08
SEVEN OF Ireland’s biggest independent bookmakers have joined together to launch formally BetPack.com.
This will provide them with an online gambling presence for the first time.
The move has been supported by Dublin-based investment group Raglan Capital, which has taken a 10 per cent stake and has raised close to €2 million from its clients to support the venture.
Raglan founder Cathal Friel has been appointed as chair of BetPack.com.
As revealed by The Irish Times in December, BetPack has brought together Bambury Bookmakers, Hackett’s, Mulholland’s, Terry Rogers, Toolan Bookmakers, Track Bookmakers and Tully’s.
These groups operate 180 betting shops across Ireland and have a combined betting turnover of about €600 million. Each will have an equal share of BetPack’s profits.
They aim to develop an online presence to allow them to compete with the established large players in the Irish betting market, which include Paddy Power, **** and Ladbrokes bookmakers.
Jimmy Finlay, a spokesman for BetPack, described the move as a “huge development” for the industry and would help to “safeguard” jobs.
“We were losing approximately 25 per cent of earnings to online betting once we close our shops in the evening and now we can develop a relationship with our customers both over the counter and through the BetPack.com website.”
Mr Finlay said other independent bookmakers could join the venture.
“We wanted to see how this initial launch phase goes and we may then look at additional independent bookmakers coming on board,” he added.
This will provide them with an online gambling presence for the first time.
The move has been supported by Dublin-based investment group Raglan Capital, which has taken a 10 per cent stake and has raised close to €2 million from its clients to support the venture.
Raglan founder Cathal Friel has been appointed as chair of BetPack.com.
As revealed by The Irish Times in December, BetPack has brought together Bambury Bookmakers, Hackett’s, Mulholland’s, Terry Rogers, Toolan Bookmakers, Track Bookmakers and Tully’s.
These groups operate 180 betting shops across Ireland and have a combined betting turnover of about €600 million. Each will have an equal share of BetPack’s profits.
They aim to develop an online presence to allow them to compete with the established large players in the Irish betting market, which include Paddy Power, **** and Ladbrokes bookmakers.
Jimmy Finlay, a spokesman for BetPack, described the move as a “huge development” for the industry and would help to “safeguard” jobs.
“We were losing approximately 25 per cent of earnings to online betting once we close our shops in the evening and now we can develop a relationship with our customers both over the counter and through the BetPack.com website.”
Mr Finlay said other independent bookmakers could join the venture.
“We wanted to see how this initial launch phase goes and we may then look at additional independent bookmakers coming on board,” he added.
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Recently went in to one of the above shops to take a betpack price and staff opened up PP and quoted from there!
As I've said before these shower are a waste of space, and will be gone in a year.
If you like this site ur better off punting with sid james. Lay bigger bets, better offers and better customer service.
If you like this site ur better off punting with sid james. Lay bigger bets, better offers and better customer service.
it's the embarassing picture with gorgeous model Georgia Salpa that grabbed my attention
This will provide them with an online gambling presence for the first time.
Some have tried and failed already ?
Some have tried and failed already ?
They offer exactly the same odds as st@n j@mes, so obviously the other crowd are compiling the odds.
Why are SJ involved with this business, when they can have the customers themselves?
I also see that the company is based off-shore to avoid paying any levy or tax on their business. The government have to act quickly to block these websites, unless some sort of deal is done to fund racing in ireland.
Why are SJ involved with this business, when they can have the customers themselves?
I also see that the company is based off-shore to avoid paying any levy or tax on their business. The government have to act quickly to block these websites, unless some sort of deal is done to fund racing in ireland.
raglan capital raised 2m for this rubbish - it's only a white label deal with stan james - cost little or nothing to set up - poor returns as well - never the same as running you're own place - would have had better chance of success if they kept it in house instead of third party, whats the point ?
looks like they need a proper website - looks pretty bad now to be honest
looks like they need a proper website - looks pretty bad now to be honest
bingo ^ 2million for 10%, now thats surely a joke
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