Monday, July 20, 2009
Betfair Moving Into United States Online Betting Market
5:00 AM | 
Posted by
coolvision
Betfair is preparing to bring their highly popular exchange betting to the United States online Betting Market. Betfair has already set up shop in Silicon valley and is readying a website with streaming live horse races.
Betfair has become one of the biggest online betting sports books in the world largely because of exchange betting. This is where gamblers are paired up against each other, rather than playing against the house.
Two or more customers who are betting on opposite sides of a game are paired up together and they propose bets. Then, one or more gamblers accepts the bet. Betfair gets a percentage of the bets, but unlike in most sports books, the winner pays the percentage, not the loser.
This is attractive to many gamblers who do not like the extra percentage they lose when they make a bet and lose with a sports book. The gamblers much prefer to pay the percentage when they win, instead of it piling on their losses.
Betfair will most certainly be waiting for the Unlawful Internet Betting Enforcement Act to be overturned, but in the meantime, they will begin their journey into the United States market with online horse race betting.
Betfair is paying specific attention to their technical team and what they are building for the site. Betfair believes that Internet Betting will be different in each state, so they are building their site with the ability to turn on different forms of Betting in different jurisdictions.
\Read about USA betting and popular betting systems!
Betfair has become one of the biggest online betting sports books in the world largely because of exchange betting. This is where gamblers are paired up against each other, rather than playing against the house.
Two or more customers who are betting on opposite sides of a game are paired up together and they propose bets. Then, one or more gamblers accepts the bet. Betfair gets a percentage of the bets, but unlike in most sports books, the winner pays the percentage, not the loser.
This is attractive to many gamblers who do not like the extra percentage they lose when they make a bet and lose with a sports book. The gamblers much prefer to pay the percentage when they win, instead of it piling on their losses.
Betfair will most certainly be waiting for the Unlawful Internet Betting Enforcement Act to be overturned, but in the meantime, they will begin their journey into the United States market with online horse race betting.
Betfair is paying specific attention to their technical team and what they are building for the site. Betfair believes that Internet Betting will be different in each state, so they are building their site with the ability to turn on different forms of Betting in different jurisdictions.
\Read about USA betting and popular betting systems!
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