Understanding Traditional Bookmaker Margins and Betting Exchange Commission The concept of the betting exchange was pioneered by Andrew Black and Edward Wray, who co-founded Betfair in 2000. This is more likely in smaller or less regulated markets, where individuals might attempt to skew the market by placing large, misleading bets. This limitation is particularly evident for niche sports or lower-profile events, which may not be as extensively available on exchanges….

Find Out More