Betfair tests prediction markets product in the UK
Betfair is testing Betfair Predicts with a small group of invited existing account holders ahead of a possible UK launch, the company said. The product uses Betfair Exchange liquidity for yes-or-no predictions on sports, politics and entertainment events, and Betfair said it is a beta that will develop based on customer feedback. The report says the product falls under Betfair’s existing UK Gambling Commission licence.
A launch could extend Betfair’s UK exchange offering into event-prediction markets under its existing licence, according to the report.