A new entry to the fixed odds online gambling market

Gambling.ie has been set up to keep our Irish online gambling public as safe as possible by recommending only those sites which we know to be completely trustworthy but also to keep them up to date with developments in the online gambling world and with this in mind it is interesting to read that the well known betting exchange operator Betfair has announced their intention to expand their business into fixed odds online gambling. Betfair is known as a betting exchange whereby it brings online gamblers in contact with other online gamblers who then strike a deal with each other and the intermediary takes a cut; this supposedly gives better odds although there has been some bad press in recent times which have been reported here at gambling.ie with people running up liabilities beyond their means. Betfair reckons however that they are losing around 30% of their customers gambling wallet to other online gambling providers who can provide better in play gambling or can provide “ante post” online gambling on events several weeks in advance. Gambling.ie has learned that a fixed odds software has been trialled in Cyprus and is now planned to be launched before the Euro 2012 tournament. This is a major move in the online gambling market and moves Betfair from a low risk operation into a much higher risk and reasonably enough some shareholders might be asking questions but gambling.ie has seen reports from Betfair’s sports operations director, Mr Nick Hagen, who said they has built a new trading team based in Dublin that is lead by Craig Mucklow who is a previous director of Ladbrokes. With Betfair moving into fixed odds online gambling we at gambling.ie will be interested to see how the big boys react; they might just decide to have a go at betting exchanges.