Dublin-based WorldSpreads has signed an agreement to offer spreadbetting to customers of betting and gaming company Victor Chandler International in a move that seeks to take advantage of the relatively favourable regulatory environment for financial spreadbetting across European markets.

Maiden figures from WorldSpreads confirm that financial spread betting continues to enjoy a purple patch. However, the future of the firm’s sports spread betting arm is in doubt after it failed to impress.

The trading volumes of Europe’s spread-betting firms continue to impress, even as the extreme volatility of the wider markets plays havoc with their collective share prices. Dublin-based WorldSpreads was the latest to unveil strong half-year results.

Dublin-based spread betting firm WorldSpreads Group plc has confirmed that its trading for the six months to the end of September has continued to accelerate, with European and Asian expansion offsetting the effects of a recently imposed ban on short-selling financial stocks.

A management buyout currently under consideration at WorldSpreads’ Dublin-based division could see their UK and Irish operations separated as the savage downturn being endured by the Irish spreads market takes its toll, according to industry speculation.

Paddy Power says it can afford to be selective in hunting acquisition targets after successfully elbowing its way into Australia’s bookmaking market via their deal to buy a controlling stake in Sportsbet earlier this year.

While the report of Ireland’s casino committee enthused about the revenues and benefits that could be created were the country to become an international online gambling hub, a panel of experts at this week’s Irish Gaming Review in Dublin concluded that realities of EU taxation policy, and competition from established jurisdictions, may put those dreams far out of reach.

Restrictions on opening spread betting accounts will become stricter with the introduction of the European Union’s MiFID regulation changes, which come into force today, industry bosses have warned.

WorldSpreads has confirmed the details of the management buyout (MBO) that will see the financial spread-betting firm split its Irish and UK-based financial divisions, leaving the Dublin operation in the hands of the same team which recently bought its sports division.

Stock markets may have been convulsed by fears over a global credit crunch but according to the chief executive of one of the newest spread betting firms in the industry, the amount of credit offered by spread betting firms has already fallen and will continue to do so.