Betfair and the Italian Betting Exchange

Italy has recently made public its betting exchange regulations to the European Commission. A Ministerial Decree was made to announce the new regulations in the Italian market and seeking to ensure protection of the punters as well as the market.

One of the first reactions comes from Betfair.  With the nee decree about gambling regulations on, Betfair will now be able to increase its hold to the Italian market. It will now be able to apply for an authorisation under its existing Italian online gambling licence to operate the company’s betting exchange product.

Speaking on behalf of Betfair, Martin Cruddace, Betfair’s Chief Legal and Regulatory Affairs Officer, said;
“We are delighted to have an opportunity to bring our revolutionary betting exchange to Italy.”
Regulations on betting exchanges in the Italy will lead to a clearer analysis of the market and as well help to offer consumers greater choice and better value. Betfair Casino has over 185 online games to offer as well as many online gambling opportunities to offer to the Italian punters. Since its launched in 2000, this online casino has managed to grasp a big part of the UK market strong hold and is expected to expand into various countries.

The targeted market of Betfair for the moment is Italy where they see opportunity for growth and accommodate many of the online gambling fans of Italy.

In order for them to apply successfully for the authorisation, Betfair need to wait for the review of the Ministerial Decree by the European Commission. It will then be returned to the Italian Ministry of Finance after which it will be enforced.
This is one development which the online gambling community is looking at very earnestly.