By Jonathan Davies

Online betting firm Bwin has accepted a £1.1 billion bid from GVC Holdings.

Bwin had already accepted a £900 million bid from rival betting firm 888, and chairman Philip Yea admitted that shareholders were unsure of accepting GVC's offer.

"There was a pretty even split of those that expressed views one way or the other. But we also had a significant block of shares that was happy to support the board on its deliberations," Mr Yea said, according to Reuters.

More betting companies are starting to merge following stricter rules and regulations imposed by the Chancellor in his last few Budget statements.