Betfair appoints Ladbrokes expert

BETFAIR has appointed Craig Mucklow as director of trading where he will lead the trading team responsible for managing all of Betfair’s risk products, including the company’s forthcoming new sportsbook product.

Mucklow joins Betfair from UK bookmaker Ladbrokes where he most recently served as head of sports trading product, managing a team of sixty sports traders. He has also held roles with Paddy Power, Stan James and Betonsports.com.

“Craig is a superb addition to Betfair’s management team and his appointment reflects the commitment we have for offering a comprehensive and world class risk product to our customers,” said Ian Chuter, Betfair’s group operations director. “We have been offering risk products for a number of years, but the arrival of the new sports betting product will be a game changer for Betfair.”

Betfair’s “next generation” sports product is designed to complement its core Exchange, allowing customers to get ‘house’ prices where liquidity isn’t available between customers, such as some ancillary in-play markets, or early prices on main markets where liquidity may not form until nearer the event.

“The introduction of the new sports product has the potential to not only revolutionise Betfair’s business but also the whole industry,” said Mucklow, who will be based in Dublin. “Everyone knows that Betfair’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. I am really excited to be joining Betfair at this time.”

In other Betfair news, the online gambling firm is expected to smash records during the London Olympics with £150million wagered through its website. The Games will benefit by being held at convenient times for America and Asia, but the relatively short events and lack of interest among gamblers in athletics will restrict the amount wagered.