The online casino, poker and sportsbook software development company of Playtech has made a move into the world of Binary Options and has agreed to purchase TradeFX for $458 million. TradeFX owns the extremely popular trading site of Markets.com and Playtech have stated that it was a great opportunitty for them to invest in this growing industry.
Playtech will remain as a software provider, using its many years of expertise to provide a binary options trading platform that adds to their existing casino, sports and poker operations, and in a stock market statement Playtech stated that the acquisition was, “in line with Playtech’s strategy to acquire profitable, regulated, highly cash generative businesses with market-leading positions.” Playtech CEO Mor Weizer added to the official statement by saying that, “I am delighted to announce the proposed acquisition of TradeFX which provides entry into a highly complementary new market vertical where our combined operational superiority will enable exciting growth opportunities.”
There are many casino games players that are now checking out the world of binary options and although it’s a different animal the thrills can be just the same. Binary options are different from other forms of trading as the two outcomes of a trade are a fixed amount of money or nothing, and although it is a little like gambling, when dealing with binary options trading, knowing whether an asset will increase or decrease in value is all about the knowledge. There has been some debate as to regulation in the US and while many binary options brokers do accept US traders, some do not, and are awaiting more information on the legal side of things. No matter what that may be it’s great for this fledgling industry to have such a large and reputable company as Playtech getting involved and that can only be a good thing.