- The Sporting Exchange (BetFair-TradeFair) is a gaming company that operates on many countries.
- It would happen, occasionally, that one country’-s laws would allow fixed-odds bookmakers —-but not betting exchanges.
- BetFair would still want to operate in that country –-as a bookmaker, not as a prediction exchange–- to have its name out there —-with the long-term goal of reverting it to a full exchange, once the laws will have been modified, later on, in the future.
- To do so, in the summer of 2007, BetFair began to hire people to provide prices and manage risk for that Internet sportsbook. That sportsbook has no connection whatsoever with the UK betting exchange.
- One un-hired job candidate told everyone who would listen that BetFair was preparing to do some hidden market-making on their betting exchange —-hiring a “-team of traders”-.
- BetFair wouldn’-t deny those allegations, out of fear of hinting its competitors.
- The sportbook, which was at the origin of that market-making rumor, is BetFair Italy —-which has opened shop recently.