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:
“Courtroom—A place where Jesus Christ and Judas Iscariot would be equals, with the betting odds in favor of Judas.”
—H.L. (Henry Lewis)
“I sometimes feel a great ennui, profound emptiness, doubts which sneer in my face in the midst of the most spontaneous satisfactions. Well, I would not exchange all that for anything, because it seems to me, in my conscience, that I am doing my duty, that I am obeying a superior fatality, that I am following the Good and that I am in the Right.”
—Gustave Flaubert (1821–1880)