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.
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.
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