Betfair Launches Exchange Platform
- source: Betfair
- Nov 10, 2016
- 2 min read
Betfair, the operator of the world’s most popular exchange wagering platform, today unveiled elements of a new brand campaign to introduce the company and its exchange wagering platform to New Jersey residents. With the tagline Smart Is The New Lucky, the campaign includes digital, television, print and social media and begins May 14th with the opening of the Monmouth Park summer race meet, four days after the official launch of exchange wagering on horse racing for New Jersey residents. The first spot in the campaign, “Lock,” features an animated character explaining one of the main advantages of the exchange versus traditional tote wagering, fixed odds.
“One of the great features of exchange wagering is price certainty for the bettor, being able to offer or accept the odds you want and the campaign drives home that value proposition,” said Kip Levin, president of Betfair US. “Our goal for the campaign is to both engage and educate potential customers about the benefits of exchange wagering -- value, choice and greater control for the player.”
Additional spots will be rolled out over the course of the campaign, which was developed by Phear Creative, a New York-based creative content agency.
"In this campaign we celebrate the idea that for the first time ever you can bet the way you live, with more control over your fate,” said Casey McGrath, Chief Creative Officer at Phear Creative. “Betting on horses will never be the same and we are excited to be a part of this revolution against luck.”
Exchange wagering is a form of peer-to-peer pari-mutuel betting that allows players to lock in their odds through cutting-edge technology. Players can take fixed odds by proposing or matching anonymous trades with each other through the exchange platform. It also allows bettors to ask for better odds than those available in the market at that time, to continue to wager during the running of a race and to “Cash Out” before a race is complete to ensure a profit or mitigate a potential loss.
Exchange wagering is very popular in other countries, including in the UK, where Betfair pioneered the exchange 15 years ago. Betfair now processes on average more than three million transactions each day
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