On-line betting company Exchangebet.com Holdings, an affiliate of investment house Regent Pacific, is to take a 40 per cent stake in Toronto-listed International Pursuit.
Exchangebet.com aims to revolutionise financial betting by offering - subject to official approval - fixed odds wagering, taking bets on key stock indices around the world.
Founder Jean Yves Sireau, a local entrepreneur, said the attraction of the site was that it minimised the risk to punters to the size of their stake, whereas the more prevalent spread betting carried unlimited risk.
It is the latest in a series of Internet initiatives by Regent. In October, Regent announced a US$2 million investment in Exchangebet.com.
Regent has on-line financial services in South Korea via Korea Online Holdings.
Chairman Jim Mellon said: 'Regent is embarking on a significant expansion of our activities to include the development of e-commerce platforms and to increase our already substantial investments in the technology sector.' INTERNET