Casino and online casino list for Ireland

Business users are active on Betting exchanges

By mr-casino on 2010-10-23 10:10:09

Many of the larger online casino operators such as Paddy Power or Ladbrokes also have a sports betting operation while others recommended by are specialised online casinos operators such as Spin Palace or Party Casino. The sports operations of these bookmakers have a different competitor in the form of what is known as market makers, the best known of which is Betfair. All the advertising of such companies like to point out that you are making a wager with another private individual and thereby cutting out the middle man and therefore getting better odds but recent information suggests that this might not be the case. Betfair will of course not discuss their customer base quoting customer confidentiality as the reason but it is known that several users are businesses who make money by creating markets and has learned that one company which is based in Malta but has a share listing in Sweden generated betting turnover of over £5.5 million last year which hardly makes them a small operator. Traditional bookmakers have been concerned for some time about the secrecy which surrounds the customer base and are hopeful that the upcoming flotation of Betfair will force it to be more open. The racing industry is also concerned because traditional bookmakers contribute a levy to the industry whereas exchange users do not which as long as they are individuals is no problem but if they are business users it is a different issue. The racing industry reckons it could be losing something exceeding £30 million of income due to this activity..