Betting firm announces €1.7m losses

ONLINE bookmaker Sports Spread made a €1.7 million loss last year, after taking a gamble to enter the British betting market.

Accounts just filed for the company, which is backed by former Irish football international Kevin Moran, entered the British market last year by offering spread betting on sporting and financial events.

Excluding the loss made on the new venture to the British market, Sports Spread made a profit on both its fixed odds and spread betting operations.