|IBetX the UK based person to person betting exchange has announced its intention to open to the American market, offering alluring bets on everything from hockey to horse racing. Essentially, a betting exchange does for gambling what eBay does for auctions, bringing together two parties over the Internet to make a transaction, bypassing the expensive middleman.|
'Betting exchanges are the future of online betting, and iBetX will be a major player in that future,' said iBetX founder and CEO, Rocky Mirza.
Exchanges are becoming increasingly popular because gamblers pay low commissions and get excellent odds, so they maximize their winnings.
Although it was only founded March of this year, iBetX has processed over a staggering one hundred and eighty million matched bets and liquidity is growing by 10% per week for the UK alone.
Players can ask for whatever odds they want. All they need is for one person to accept the bet. iBetX allows a minimum bet of just one pound, or approximately $1.50 in US currency. For its services, iBetX takes a commission ranging from 1% to 3%, depending on the customer's overall level of betting.