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Betfair is the English company that "invented" the betting exchange platform better known by the English term Betting Exchange. The company, a worldwide reference point in this sector, has become the recognized synonym of Betting Exchange to such an extent that those who trade with back and lay or simply use it to place bets use the two terms indifferently, thinking they are the same thing!
Betfair is an atypical online betting company that is different from all the other traditional Bookmakers, founded in June 2000 by two partners: Andre Black and Edward Wray, expert on two worlds that were diametrically opposed: the financial markets and the game of gambling. Andre Black was in fact an expert gambler, while Edward Wray was a trader of JP Morgan, who met the brilliant idea of joining these two worlds by creating the Betting Exchange. With this simple intuition they had found the way to pass the Bookmaker avoiding to pay the latter his commission or ease, by meeting online (with a huge catchment area), who wanted to buy and who wanted to sell a certain share with the same principle of how it happens on the stock exchange: this is in two words the operation of Betfair betting exchange.
The two partners, by joining their specific skills in the two sectors, created a market parallel to that of bookmakers with the same methods and functions as the financial exchange.
Expansion
Since 2000, the company has always seen its turnover increase by about 10% per year, initially by the British, the people with the highest betting culture, and then by almost all the other nations of the world, until today where it has about 3 million customers in 140 different countries.
Customers, and consequently the turnover, have always increased for various reasons such as the best odds, the possibility of being a dealer and an offer of different bets and games that continually attract customers. Most of the bets' turnover is realized with Horse Racing, which is the main sport for betting in Great Britain, followed by football, tennis and other so-called "minor" sports. Over time it has also implemented new markets such as Casino, Exchange Games, poker and Arcade, thus increasing revenues and customers.
For example, Exchange Games have been created and work with the same principle of betting; for example with the Black Jack it is possible to play with the dealer through a certified software that generates the cards going to buy or sell the probability of exit of the cards. Betfair has also sought to expand its business by taking Betting licenses in other countries such as: the United Kingdom, Gibraltar, Malta, Denmark, Tasmania, Spain and Italy.
Sportbook
Since 2000, the company has always seen its turnover increase by about 10% per year, initially by the British, the people with the highest betting culture, and then by almost all the other nations of the world, until today where it has about 3 million customers in 140 different countries.
Customers, and consequently the turnover, have always increased for various reasons such as the best odds, the possibility of being a dealer and an offer of different bets and games that continually attract customers. Most of the bets' turnover is realized with Horse Racing, which is the main sport for betting in Great Britain, followed by football, tennis and other so-called "minor" sports. Over time it has also implemented new markets such as Casino, Exchange Games, poker and Arcade, thus increasing revenues and customers.
For example, Exchange Games have been created and work with the same principle of betting; for example with the Black Jack it is possible to play with the dealer through a certified software that generates the cards going to buy or sell the probability of exit of the cards. Betfair has also sought to expand its business by taking Betting licenses in other countries such as: the United Kingdom, Gibraltar, Malta, Denmark, Tasmania, Spain and Italy.
Betfair.com
The specific Betting Exchange platform has been called the Betfair Exchange and has acquired ever-increasing liquidity since its inception. The company is continuously implementing new features and expanding the range of markets in Italy and the numbers, that is, the combined volumes, are confirming this trend. To place bets with Betfair, remember that you can use the operator's website or use certified software for sports trading.
Betfair has developed specific applications (Betfair Mobile) suitable for mobile devices to allow Betfair customers to bet even on the move
Main products
- Betfair Exchange: The Betfair Exchange is the name given to the proprietary platform to distinguish it from the traditional bookmaker activity, which is called Betfair sportsbook. The Exchange was officially launched in Italy on 7 April 2014. Betfair has focused very much in the last few years on having the Exchange in our country, making great technological investments and working side by side with the AAMS for the regulation and the technological aspect.
- Betfair cash out: in Italy, Betfair has also decided to launch cash out in the Exchange mode in Italy. Cash out is an important option that offers its customers and, in our opinion, will create a distortion in the world of online betting that will change the positions acquired over time. There are rumors that at least one Italian bookmaker wants to launch a product similar to the cash out of Betfair. The possibility of being able to close a position in profit (or possibly with a limited loss) before the end of a game, will make many understand the importance and benefits that the betting exchange will offer and will significantly increase the odds of Betfair online betting which now settle at negligible percentages when compared to its potential.
- Betfair sportsbook: The bookmaker mode has been present in Italy for several years with a specially-made company that has taken the license as a remote gambling operator. With the arrival in Italy of the exchange he decided to rename the two activities with different names. The activity as a traditional bookmaker has been dubbed “betfair sportsbook” which provides single and multiple odds. It must be remembered that Betfair presents its online game offer only because for business policy it has no betting agency on the national territory and English and in fact those who want to use the services of Betfair can do it through the website or through trading platforms that use the API of Betfair.
Definition of cash out
The translation of cash out means "cash out now" and is an option that allows the customer to exit a market at any time, allowing you to block the profits made or reduce losses using a mathematical formula that divides the gain into equal parts to the odds current. There is now an option on the Betfair website that allows you to divide the profit into different parts according to the greater probability of an event coming out compared to another. The original definition of cash out is the sharing of 50% of the potential profit accrued at the relative current odds.
The Betfair cash out is a new betting option launched and invented by Betfair that immediately met with great success in Great Britain also thanks to a targeted and powerful marketing campaign made up of advertising spots of great effect and impact.
- Category: Betfair
