Online gambling looks like being the next boom area in the UK, with the news that a 24 hour Internet betting company's is teaming up with Sky Sports online.
Netbet will offer millions of Sky customers the opporunity to bet on sporting events, including soccer and tennis, over the Internet. Netbet is conveniently based in Alderney in the Channel Islands which allows its customers to avoid tax.
Details of its tie up with Sky have not been made clear, but it is thought that Sky will take a share of revenue generated from the service.
Netbet was initially listed on Oftex at 70p a share. Dealing was suspended ahead of the deal at 230p - on resumption the share price soared to 415p. Netbet, like many other online companies has seen its value on paper soar overnight. It is now thought to be worth around £40 million.
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