The United Kingdom’s spread betting company IG was able to sign a six-digit television rugby sponsorship deal with Sentanta Sports in a proposal to make Ireland’s largest player in the region by the end of this fiscal year. IG’s London based headquarters has already instituted its new Irish operations during the first quarter and is presently in second position in terms of market share.
It has recently achieved 30pc share price growth in Britain in the past twelve months which made it the country’s highest spread betting firm as well as the market’s top operator in terms of sales volume.
The Sentanta deal saw the IG tied in as a guarantor of the Irish sports network’s coverage of this year’s French Top 14 rugby tournament which is predicted to create huge interest after the recently concluded Johnny Sexton’ recent signing to Racing Metro.
IG’s MD in Ireland Declan Bourke stated that the rugby television transaction will expectantly be bolstered by what is described as a left field GAA sponsorship which will hopefully produce massive discussion and interest upon the details are publicly announced in the succeeding months ahead.
The Irish spread betting sector has not been adversely affected in a substantial degree by the recession and its predicted value has not declined in the past 6 years. Studies suggest that the present market can only expand further in the subsequent years which will make Ireland an idyllic company that embodies healthy growth and expansion.
IG was able to maintain its presence in Ireland mainly because businesses are fundamentally a local endeavour in which people ought to know who they are dealing with in a personal and daily basis. Spread betting will continue to expand and grow in popularity as investors turn replaced their traditional equity investments which are relatively much more expensive in terms of stamp duties and commissions that tie up most of their capital.