Betfair calculates its own starting price, sometimes known as the BSP.
Betfair and Paddy Power are in talks to create one of the world’s largest online betting companies.
To improve liquidity, Betfair uses cross-matching to advertise an unmatched bet to as many customers as possible.
Launched in 2000, Betfair is the dominant betting exchange. The UK-based company pioneered the betting exchange concept where customers bet against each other, rather than the bookmakers, and can modify their positions during an event.