Start Betting and Banking the Odds Using Betfair as a Bookmaker
With the arrival of the Betting Exchange in Italy known in our country by the name of Punta e Banca, many want to experiment with its functioning and start betting and banking the odds using Betfair as a bookmaker.
In fact, many users know that on betfair.com it is already possible to use the Punta e Banca but there is a big problem, the site is not legal in Italy, in fact not having the license to operate in the Italian territory is to be considered as illegal, while the Betfair site is functioning normally.
The Betfair site is in fact authorized by the Ministry of Finance and can operate freely under the AAMS license. At this point, we need to understand what are the differences between the Betfair site and the Belfair site.
The Belfair site is of English origin, as well as the Betfair company that owns it, the Belfair site is managed by an Italian affiliate company which is Betfair Italia. If Punta e Banca is the best product for making bets all over the world, we must thank Betfair for introducing it to the market.
In England, it has already been active for many years, and initially, even Italian users could use it, at least until the game of sports betting with online odds in Italy was regularized. With the introduction of gambling in Italy it was decided to establish a control and verification body which is AAMS, the Autonomous Administration of State Monopolies. AAMS plays a very important role in ensuring that the games are legal, safe, that only those over 18 years of age play them, and that they are not addictive.
At the moment it is possible to use classic bets on the Belfair site as well as all the other AAMS bookmakers while there is no possibility to use the Punta e Banca. This is therefore the main difference. However, it is only about time, as AAMS is defining the rules to introduce the Betting Exchange also in Italy, by 2012 it will certainly be active and this will certainly be good for all bettors and operators in the sector.
At that point, it is to be expected that the first bookmaker to introduce it will be Betfair Italy with its Belfair site as it enjoys the experience gained by Betfair on the Belfair site. It will only be necessary to readjust its functions to make them compatible with the AAMS posts.
Having said that, the advice is to register on the Betfair site already now to be the first to use the Betting Exchange, or if you prefer Punta e Banca, as soon as it is operational in Italy.