On a betting exchange, you are betting against other gamblers. Every customer on a betting exchange can decide for themselves whether to make or lay bets. The role of Betfair in the rise of betting exchanges has been crucial. Dubbed "the greatest success story in the history of gambling", given its meteoric rise in what. While on the surface betting exchanges offer the same betting opportunities as a Betting exchanges charge a small commission fee on every bet placed to. Having hit the milestone of more than three million customers byBetfair listed on the London stock exchange, in a move hailed as "an important landmark" by Ed Wray. Most exchanges kassel casino their money by charging a commission which is calculated as a percentage of net winnings for each customer on each event, or market. If you make a net loss on a market, you do not pay commission. It was founded in by Andrew Black, who developed the idea on his own laptop in his spare time. Bringing financial acumen and a strong sense for business, Wray's expertise complemented Black's and soon the pair were on the hunt for financial backers for the idea. Betting exchanges normally generate revenue by charging a small commission on winning bets.