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London-listed online gambling group PartyGaming has announced the launch of a fixed-odds horse racing service on its PartyBets.com platform through an alliance with Sporting Index.

The Gibraltar-licensed firm stated that the new service would feature full coverage of UK, Irish and premier international race meetings including unique early prices, ante post markets and specials.

As part of the deal, Sporting Index has created a wholesale division, Spin Services, that is to provide all horse racing odds compilation and associated trading advisory services for PartyBets.com.

"The traders at Sporting Index are well known for being among the very best in the industry and have made the company the recognised world leader in spread betting," said a spokesperson for PartyGaming.

"Teaming up with Sporting Index to expand our fixed-odds betting services is a winning combination."

The launch of PartyBets.com's racing service is also being publicised with a promotion that will see winnings doubled on the first and fifth bet for all new customers.

"Spin Services has been designed to assist the wider gambling and gaming industry with all its trading needs," said Richard Glynn, Chief Executive Officer for Sporting Index. "We are delighted to be enabling PartyBets to offer its customers a first-class comprehensive horse racing service."

PartyBets.com was launched one year ago following PartyGaming's acquisition of Gamebookers, a non-US-facing sportsbook, in August of 2006. Both PartyBets.com and Gamebookers are fully integrated into PartyGaming's platform and bets can be placed on a wide range of sporting events in eleven languages.