Betfair is the leading betting exchange. He has recently completed a restructuring of its commission scale in order to excel but may have in fact created a competitive opportunity for new rival WBX which has not hesitated to take advantage of the situation. This week in a bold move to steal Betfair punters, WBX has offered all Betfair customers their pre-restructured Betfair commission rates.
Included in this offer is an opportunity being given to all Betfair users who are able to present evidence of their current commission level, to use the same level when they bet at WBX.
Malcolm Gray, WBX’s CEO demonstrated a combative mood, when he was reported as saying that the redistribution of Betfair’s commission is once more illustrative of the fact that a virtual monopoly in the exchange industry is in fact to no one’s benefit or interests with the exception of Betfair. He said that if players wish to witness a genuine alternative to this current market leader they have one. All they need to do according to him is to use their fingers to vote.
WBX has announced that it has undertaken to aggressively compete with its better established rival Betfair, and has reached a betting turnover milestone of GBP58 million in only six short months.
A spokesman then said that in the week to according to a company spokesperson, by May 21st, the company had seen a GBP 7.46 million turnover, which was a new record for their company. It credits the rising level of turnover to its current series of zero percent commission promotions. For football matches, the standard commission at WBX is 3%. This is designed to undercut the higher rates of its chief rival.