|Minister of Gaming Andrew McIntosh welcomes the advent of betting exchanges in Great Britain. “I welcome the innovation that betting exchanges bring to the betting market. And I believe that the proposed Gambling Commission can regulate them effectively' |
Betting exchanges have been hotly debated in the United Kingdom since the major licensed UK bookmakers began legal action against betting exchange Betfair. Betfair has, and still does, maintain that their business of offering person-to-person betting is within the bounds of UK gaming law. Now it looks like the word from the top concurs with Betfair’s original ascertain.
Regulation specifically aimed at betting exchanges may be invoked before the UK enacts its proposed gambling reform through a series of decisions made by groups like the Department of Culture Media and Sport, The UK Gaming Board and the Joint Pitch Council.