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)
“The press and politicians. A delicate relationship. Too close, and danger ensues. Too far apart and democracy itself cannot function without the essential exchange of information. Creative leaks, a discreet lunch, interchange in the Lobby, the art of the unattributable telephone call, late at night.”
—Howard Brenton (b. 1942)