A betting exchange is an entity which provides trading facilities for retail or bookmaker customers to buy and sell contracts. These contracts are structured as binary options where the payoff is either some fixed amount of money or nothing at all, dependent on the outcome of a future event. Betting exchanges trade heavily on horse racing and sports events, but also offer markets on elections and other current events.
Read more about Betting Exchange: History, Exchanges and Traditional Bookmakers Compared, Laying, In-play Betting, Trading, Controversy
Famous quotes containing the words betting and/or exchange:
“What is faith but a kind of betting or speculation after all? It should be, “I bet that my Redeemer liveth.””
—Samuel Butler (1835–1902)
“I should like not to exchange any of my life for money.”
—Henry David Thoreau (1817–1862)