“Betfit.com Releases New Betting Exchange for Online Gambling”

With the launch of the new betting exchange, BetFit, Global Entertainment, a Costa Rica based company, has begun a new era in the ever-evolving online gambling industry. The betting exchange, according to BetFit’s executive director, Ricardo Silva “is a facility where consumers place bets between each other on the outcome of a certain event. Like real world bets about the outcome of a certain game, one person bets on a certain outcome and another bets against it. Consumers do not bet with the fixed odds offered by a traditional sportsbook. On the contrary, they negotiate the prices of their own bets, thus obtaining better odds. With betting exchanges, consumers make more profits and have more fun.”

BetFit is betting (pun intended) that BetFit will attract clients of traditional sportsbooks who immediately recognized the inherent advantage of the betting exchange. Of course, BetFit won’t turn away customers coming from the already established betting exchange markets and online gambling sites either.

Analysts are predicting a big shakeup in the online gambling industry with the advent of betting exchange sites. The betting exchange sites are definitely ushering in a new era. Even the name “sportsbook” has been affected since it has had to acquire a new name (“traditional sportsbook”) to differentiate from the new one now currently called “sportsbook”. Meanwhile, more traditional sportsbooks are adapting their system so it matches the new system (clients from the traditional sportsbooks are going over to the new sportsbooks as they begin to understand its advantages).