That is a very fair comment @JayMarket. Although, hopefully, the post served to highlight the value of star businesses with network effects regardless of what type of business that is.
It is hard to argue that the online betting exchange marketplace is making the world a better place. Richard might counter that statement by stating that the exchange is simply acting as the middleman, allowing users to both set a price for their bet and take a price that others are offering. Because punters are backing and laying bets against each other, the exchange doesn't mind at all who wins or loses. Richard would state that this results in better odds and a much more efficient book than you will ever find at a traditional bookie who also has to add in a profit margin.
On the other hand, I can confidently stand behind 1ST Group is saying that not only are they a star business with platform network effects, but they also improve lives by connecting consumers to a variety of healthcare services and information, to get well sooner and stay well longer.
A star business + network effects + societal value = a highly valuable business
1ST Price at posting:
8.1¢ Sentiment: Buy Disclosure: Held
