It is a pretty bold move, getting betting online started up in the 21st 6 Century. Although this is still a growing industry, there are many firms who have years of experience behind them, but Irish firm Oddball seems to think they have a chance to get in to this industry, and make it big. They have a lot of competition to deal with – for example Irish betting firm Paddy Power – is supposedly more liquid than the Bank Of Ireland.
This new company however does not seem to be perturbed by the success of this live and online gambling giant, and seem determined to "shake up online betting", according to the press release.
Oddball is a start-up company, which founder Eanna O Hiorua, expects to be fully launched by June of this year. It has also be emphasised that Ó hIorua seems determined to corner at least a 10% share of the overall Irish online betting market by the year 2015. He is a Dublin City University graduate in engineering and business studies, who developed the Oddball.ie concept himself. His own maths algorithms have been used to create a fluid odds system, which allows for better odds, and we have to admit that we all like the idea of better odds. He believes this system will control the exposure of the business, and thereby avoid adverse outcomes. We are not really sure what this technical-ese means, but it certainly seems to be technical.
Explained in lay-men’s terms, this online gambling concept is a new maths-based move towards to bookmaking. They basically adjust the odds more frequently which reflects their liability on certain events, and it is this which attracts punters who offset this liability. The knock on effect is what they have labelled "fluid odds", and O Hiorua believes that these results will be more attractive to punters. In other words they will be able to offer better odds deals than their competition.
The new company was started by O Hiorua, after being made redundant. It is based in Dublin – Glasnevin – and Oddball already employs three people full time. It is licensed in Ireland, and apparently the business has only set it’s sights on the Irish market for now. However, the one thing we all know is that any business online, tends to end up being business without borders.
There is a website set up already, running in test mode – Oddball.ie – where users are able to place virtual bets free, just for fun. Weekly Prizes are already being awarded to savvy tipsters who are willing to test the product. According to those who have tried it out, this is a simple design of website, which also loads well on the WWW as well as on Smartphones. The company is currently seeking investors.