Playtech – a top developer and a casino operator – released news this week that it had completed its acquisition of the binary options trade platform TradeFX, which had been announced last month. The trade, worth up to €458,000,000, sees Playtech take its first steps into the binary options industry. While it’s still up for debate whether binary options counts as gambling or trading, given its growing popularity, there’s no doubt this deal is a good move for Playtech.
Playtech won’t technically own all of TradeFX, but as this deal sees the company assuming control of 91.1% of the platform, it may as well. Playtech has already forked out a pretty hefty €208 million in cash to pay for the acquisition, but it may have to pay much more – to the tune of up to €250 million – depending on how well the platform performs under Playtech.
Playtech’s CEO, Mor Weizer, was quoted stating that “TradeFX’s proven management team has a strong cultural fit with [Playtech] and is incentivised to stay with the enlarged group.” He has no doubt that the binary options product will be a good fit for the company’s existing model and will serve to both appeal to players already familiar with Playtech, and attract new players to the fold.
About Binary Options
Binary options are one of the fastest growing sections of the online and mobile gambling industry in terms of popularity. Players who have traditionally enjoyed games of chance are discovering the thrills of a more skill based approach, while others who may not necessarily have been gamblers before are attracted to binary options betting because it’s more trading than gambling.
Instead of betting on the outcome of a spin on slots, or a deal at the card tables, binary options asks you to bet on the markets for various commodities going up or down over a given timeframe. You can risk a guess, and might be successful, but the real winners tend to be those players who do their homework to establish what’s going up and what’s set to come down.
We’re not at all surprised that Playtech would want to get a foothold in this market, as the developer-cum-operator is one of the best at identifying the next big crazes. Here at Droid Slots, we like to think we’re pretty good at the same thing, which is why we’re putting together a comprehensive guide to binary options. It can be found partially complete on our site now, but it is definitely going to grow in the future.