Exbet.com Launches Fixed-odds Financial Betting Site in Cook Islands

Tax-news.com

13 April 2000

Canadian based Exbet.com has lauched the first fixed-odds financial betting website through its Cook Islands subsiduary Cbet.com. Cbet.com recently obtained an Exemption Notice from the Cook Islands government, permitting Cbet.com to offer fixed-odds financial bets tax-free to customers around the globe and is now fully functional with online acceptance of credit card payments via Bermuda.

Exbet, through its subsidiary Cbet, is the first company to offer a comprehensive fixed-odds financial betting service on the Internet. Fixed-odds financial bets offer numerous advantages over traditional spread bets as risk is limited to the initial amount staked and payouts can be large.

Cbet.com offers a wide range of financial bets, ranging from up/down bets (where the client wins the payout if a given stock market is above or below a given target), to one-touch and no-touch bets, range bets, as well as bets derived from horse-racing terminology such as win, place, show, quinella and tierce bets.

Each bet can be customized in real time by the client on the www.cbet.co.ck web site. Clients have the ability to specify the exact target levels, the constituent stock indices of the bet, and the maturity date. The patent-pending Cbet.com system thereafter calculates the price of the bet in real time, based on current market conditions. The Cbet.com web site provides a comprehensive online dealing system with real time accounting, transaction recap and confirmation functions, protected by secure sockets layer encryption technology.

Exbet has stated that it intends to be the market leader in fixed-odds financial betting by establishing a round-the-clock financial betting service on a variety of financial securities and will offer fixed-odds on bets via the www.cbet.co.ck and www.finanzwetten.at web sites.

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