“Betting Exchange Ushers in New Era in Online Gambling”

Betfit, a new betting exchange, enables consumers to place bets against one another on the outcome of a certain event. The latest in an ever-evolving online gambling industry, betting exchanges are attracting clients who want to make more profits and have more fun.

Global Entertainment, a company based in Costa Rica, has launched Betfit, a new betting exchange in which consumers can bet against each other as to the outcome of a certain event. Ricardo Silva, Betfit’s executive director, sees lot of advantages to this way of betting over traditional sportsbooks, in which consumers have to bet with the fixed odds they’re offered. With a betting exchange such as Betfit, the players can negotiate the prices of their own bets, one player betting on a certain outcome and the other one betting against it. Betfit hopes to attract both those people who were formerly fans of the traditional sportsbooks and those people who have experience with other established betting exchange markets. They certainly wouldn’t discourage interest from experienced online gamblers either.

Clients of the “traditional sportsbooks” (so called to differentiate them from the new ones, called simply “sportsbooks”) were quick to see why the betting exchanges were preferable. In fact, these traditional sportsbooks, seeing how quickly they were becoming antiquated, have also begun to adapt their systems so that it is more similar to that of the modernized sportsbooks.

A newer version of Betfit’s software is due to come out in mid-2005, no doubt rendering much of what was thought to be new and exciting in the online gambling world obsolete. In an industry that is forever evolving, the advent of betting exchange sites is sparking a real shake-up and can only revolutionize things even more.