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BetOnFinance – Review of the Broker and Traders’ Opinions

4.6 / 5

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BetOnFinance is a totally new betting concept, adjusted for games on the financial markets. Players are now able to bet on the best, respectively worst, performing financial instruments, with as little as 1€ as minimum investment. The players can bet on single stocks and indices within a fixed timeframe, which makes the game funnier and more exciting.

1. General Information

BetOnFinance is a unique betting concept, merging finance with betting. The easily understood game concept pushes the financial markets closer to the man on the street, who lacks enough knowledge and time to become successful on the regular financial markets. In addition, the minimum deposit of €1 makes the financial markets accessible to investors with all types of budgets.

The game offers betting on indices, single stocks and unique events, and the odds are so-called pool odds, where the odds guarantee is set to 1.05. Hence, a winner will at least get 5% return on his/her investment. However, the odds tend to be significantly higher than so – the highest odds so far were over 700! BetOnFinance also educate its players through its Bet School and provide the bettors with daily market updates. Hence, BetOnFinance is not only a money making tool, but also a good entry to the financial markets.

2. Finance betting types

The most simple game type with the highest pools is the index game. Players bet on the development of a stock index, briefly described. The game contains of several intervals, each representing a certain percentage development. The other game type is the stock race. This concept has many similarities with horse racing, as the only thing the player needs to do is to pick your winner or loser among 30 selected stocks per market. The player picks the stock/stocks he or she thinks will end up among Top3/Bottom3 during the trading day. The game can be played as a full-day game, which closes for bets just before the market opens and settles when the market closes, or as live-game, which closes for bets halfway through the trading day and settles when the market closes. The games constantly offer high odds as an effect of the market volatility.

3. Advantages and disadvantages

Low minimum investments: As mentioned, the minimum investment is only 1€, which makes the financial markets available also for people who do not have sufficient funds to invest on regular financial markets.

Attractive odds: As the lowest possible winning odds are 1.05, the bettor is guaranteed a return on investment of 5% when winning in any game. However, odds tend to be higher than so - the highest odds ever were over 700.

Low risk: Players only risk the invested money when playing, and there is hence no leveraged downside correlated to the great upside. This is a distinct difference to traditional financial investing, where a high upside requires a low downside.

Pool sizes: As BetOnFinance still is a relatively new actor with corresponding pool sizes, it is not possible to invest unlimited amounts in the games.

4. Trading platform

BetOnFinance has made it easier than ever to participate in betting through an easily understood platform. In order to play, click on “bet now”. Then, the function “select game” can be found on the left hand side. Here users find all the various game types and markets. On the right hand side, the actual chosen game is found. The platform also includes the functions of setting budget limits, which enables players to control their spendings. Furthermore, the platform is entirely HTML coded, which makes it user friendly on desktop, smart-pads and smart-phones. Hence, the need for an app is non-existent.

5. Opening an account

Opening an account and becoming registered is very simple and takes just a few minutes. The registration process does not require any verification documents or such, as commonly requested when registering on financial platforms. As soon as the registration is complete, you are allowed to play.

6. Deposits and withdrawals

Players can choose among various payment methods when depositing money. Both withdrawals and deposits can be done through regular bank transfers, Visa and Visa Electron. BetOnFinance also offers payment solutions through Neteller and Skrill. If any questions arise, customer support is offered through live-chat, email and Facebook.

7. Education/Training

BetOnFinance targets the man on the street and the concept enables people who lack financial knowledge to participate on the financial market. However, the chance to become successful increases the more the bettor knows about the stock market. Hence, BetOnFinance focuses on educating the players through its Bet School, which is a collection of articles available on the website. The articles constitute of basic financial theory, with the aim to improve the players´ stock picking skills and financial knowledge in general. Hence, BetOnFinance is not only a useful platform in terms of making money, but also a good entry to the financial markets for none-experienced investors.

BetOnFinance also posts daily updates about the US, Swedish and Danish stock markets. These updates can be found on both Facebook and the website. The market updates are written in an easily understood way and focuses on concrete stock news rather than general macroeconomic information, including changes in interest rates etc. The US update can be found in Danish, Swedish and English, whereas the Danish and Swedish update are available in respective domestic language and in English.

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