There was some big news from online betting exchange BetFair this week, as the operator announced that it is still on schedule to launch their fixed-odds betting platform. The plan has been to get the new system going ahead of Euro 2012, in attempt to cash in on the extra interest that England and Ireland’s participation of the tournament is going to bring. Euro 2012 is the summer’s big football betting fiesta, and it will be an important time for online betting operators to try and drum up business. The summer months are usually quieter for operators once the domestic seasons have ended. So Euro 2012 is an important revenue of funds.
Euro 2012 kicks off on June 8th and BetFair are sure that their conventional betting platform will be ready for the off. The betting exchange operator announced this back in last year, and while their current system has one been one of the most successful online sports betting destination, BetFair are missing out on a valuable area. Because traditional bookmakers have the ability to set fixed odds, it means that they can set long term ante-post prices on important markets, something which BetFair cannot do. So BetFair customers have been going elsewhere to get their long term odds down, and that is the market which BetFair want to capture
BetFair’s betting exchange allows punters to lay and back bets, as long as the bets are matched by another user. So if long terms odds and not being stood up by an exchange member, then they won’t be available. By offering fixed odds through a traditional platform alongside their betting exchange, BetFair are set to capture the best of both worlds. BetFair say that switching between the two modes on their popular sites will be easier, with the software being deliver Openbet, who provide engines to the likes of Paddy Power, William Hill and Ladbrokes
