Betfair Plc has announced the launch of its Italian betting exchange. In order to comply with Italian gaming regulations, the betting exchange will have a ring-fenced liquidity separating Italian playr wagering.
The launch of the exchange has seen Betfair work closely with Italian regulator AAMS in order to comply with the markets regulatory provisions. The Italian focused betting exchange will join the existing inventory of igaming products served by the operator, which include online poker, casino and a fixed odds sportsbook.
The operator began 2014, by stating that it would aim to focus its future operations on regulated markets. The launch of the Italian betting exchange, comes just days after Betfair informed customers and media partners that it would no longer be accepting players and wagering from Russia.
Betfair soft launched its betting exchange yesterday, allowing wagering on Serie A football match Genoa FC vs AC Milan, market liquidity for 1×2 bets is said to have reached – €12,000.
CEO Brain Corcoran commented “We are pleased to be the first fully regulated exchange operator in Italy and look forward to bring the advantages of our innovative betting platform to Italian customers, “We believe this launch marks an important step in our drive to grow sustainable revenues.”