The largest betting exchange in the world is based in the UK. It is called Betfair and if you are familiar with the name then you would know that they handle a majority of horse racing bets around the world.
Betfair is giant in the betting world, as they are responsible for a majority of sportive betting activity. Whether it is on football, golf, tennis, motor racing, or any other sport; Betfair takes nearly 50% of the bets placed.
They have many different markets available on their site, but on horse racing the majority of people usually bet on Win, Loss and Neutral markets.
The company was formed in June 2000, and really got going, as many people were pinning their bets on the market as soon as the site was launched.
Emails were being sent out by traders in Hong Kong to tell customers about upcoming races, so people could begin to place their bets on the races as soon as they became available.
The company has been around since 2001, and in the year that they have been operating in the UK, they have been known for making higher prices than other sports books. In the United Kingdom, they are popular for the prices that they charge, and the betting selections are also more likely to win as compared to other booking agencies.
Betfair is available to people who live in the United Kingdom and the United States, and their rate of commission is usually 5%.
The odds are also set by humans and the computers are programmed to give the prices if they think the chances of a horses wining are better than than those that are placed by humans.
The company was formed to control the odds on horse racing, and to promote the betting on sporting events, and in 2002 they won aerkimentum of the Queen’s Award for Technological Innovation for their Successful Methods of Betting, which was presented by the Queen of England. In the United Kingdom, they are known for taking bets from people, which is Insured Money, which has a high risk of being lost, so different rules must be applied in case of a bet lost.
The company was redeemed from the act of going bankrupt, due to their innovative sports marketing strategy, which ensured that the prices are higher than the normal bookmakers, in order to guarantee the winning of the bet. This is a very innovative idea bettors were able to profit from betutions, and the business took off.
The company has since expanded into many different markets, and the odds are also very high in those areas. In fact, the company has managed to earn more than £1 billion pounds in just the Euros against losses in the European market alone.