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An on-course betting service is to develop an online service after raising £865,000 through an IPO on AIM. 

Neville Porter, which has been valued at £3.46 million, will also use the funds to expand its telephone betting service and to buy new pitches at horseracing tracks in Ireland.

Neville Porter's chairman David Soley said: "Neville Porter is an exciting business and with the heightened profile we hope to gain from admission we will push forward with plans to maximise revenues from our existing customer base and to attract new customers through the establishment of additional, effective routes to market such as telephone betting and online sports betting."

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