25th of April 2012 Author: Johnny Karp
Experienced executive to lead risk products team
Craig Mucklow (38), an expierenced executive, has been appointed as Betfair's Director of Trading in charge of a Dublin-based trading team to be responsible for managing all of company's risk products. The forthcoming next generation sports product will be also put under his jurisdiction.
Previous to Betfair, Mucklow was a Head of Sports Trading Product at Ladbrokes managing a team of 60 sports traders. He also held trading roles with Paddy Power, Stan James and Betonsports.
As for the Betfair's new sports product, it is designed to complement its core exchange allowing customers to get 'house' prices where liquidity isn't available among customers. As it is estimated that the company loses approximately 30 percent of its customers' sports betting spend to competitors, the latest product will enable the firm a greater share of wallet from customers who place the majority of their bets on the exchange but are sometimes forced to use competitors if liquidity isn't available.
Commenting all the above, Mucklow said that "The introduction of the new sports product has the potential to not only revolutionise Betfair's business but also the whole industry. Everyone knows that Betfar's Exchange offers consistently the best value on the vast majority of markets, but there are areas it can't cover and we will be working to plug these gaps for customers."
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