Online racing forecaster heads for £10m float

Sport4cast, AN online company that predicts horseracing results, is to bet its future on the stock market by floating next month at a value of £10m.

Sport4cast, AN online company that predicts horseracing results, is to bet its future on the stock market by floating next month at a value of £10m.

The group, which operates a sports analysis and results forecasting service for UK horseracing, aims to use cash from the flotation to expand overseas.

Its chairman, Sir Rodney Walker, said he believed there was "nothing to stop us" becoming the "market leader in the online sports analysis and forecasting arena." He added: "The UK is just the tip of the iceberg."

Sport4cast, which operates through www.sport4cast.com, said it held a competitive advantage because of alliances with players including the British Horseracing Board and bookmakers Littlewoods Leisure.

* Marketbet.co, which claims to be the first to offer online betting on shares and financial instruments, is launched today. It is part of Victor Chandler International, based in Gibraltar.