State-owned Danske Spil punts on start-up offering pool-betting on stocks

A firm that offers pool-betting on stocks has won over the government of Denmark.

The government-run is taking a punt on stock-market watching as it goes mainstream, starting with Fibetco, a new gambling company for betting on share movements, Bloomberg Business reported.

Fibetco is a Copenhagen-based start-up founded by Jeff Saul, who previously worked at foreign exchange broker Saxo Bank. For his new venture, Saul hired the tech team that developed the third-person shooter game series Hitman to create BetOnFinance, a first-of-its-kind gambling platform for stocks.

On BetOnFinance, punters can wager on the companies that they think will be the day’s top performer, or who will make it to the top three. In addition, players can also decide on the losing companies, according to the news outlet.