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Betfair.com:: Five Technology Forces Revolutionize Worldwide Wagering

Author

Listed:
  • Davies, Mark
  • Pitt, Leyland
  • Shapiro, Daniel
  • Watson, Richard

Abstract

The online betting exchange Betfair.com has not only revolutionized sports and racing wagering, it has won export and innovation awards and had its founder listed as one of the world's major innovators in Time magazine. It has also however attracted the attention of sports bodies, major competitors and governments, who seem uncertain about how to deal with this revolutionary player, as well as customers globally, who are attracted by the far superior value proposition the firm offers. In this paper we describe the Betfair business model, and use five technological forces to explain its strategic success. These forces are generalizable, and can be used to explore the impact of technology on any industry.

Suggested Citation

  • Davies, Mark & Pitt, Leyland & Shapiro, Daniel & Watson, Richard, 2005. "Betfair.com:: Five Technology Forces Revolutionize Worldwide Wagering," European Management Journal, Elsevier, vol. 23(5), pages 533-541, October.
    • Handle: RePEc:eee:eurman:v:23:y:2005:i:5:p:533-541
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    Cited by:

    1. Dave Cliff, 2021. "BBE: Simulating the Microstructural Dynamics of an In-Play Betting Exchange via Agent-Based Modelling," Papers 2105.08310, arXiv.org.
    2. Flepp, Raphael & Nüesch, Stephan & Franck, Egon, 2017. "The liquidity advantage of the quote-driven market: Evidence from the betting industry," The Quarterly Review of Economics and Finance, Elsevier, vol. 64(C), pages 306-317.
    3. Haoyu Liu & Carl Donovan & Valentin Popov, 2024. "A Comparison between Financial and Gambling Markets," Papers 2409.13528, arXiv.org.
    4. Helmut Dietl & Christian Weingärtner, 2012. "Betting scandals and attenuated property rights - How betting related match fixing can be prevented in future," Working Papers 0154, University of Zurich, Institute for Strategy and Business Economics (ISU).
    5. Easton, Stephen & Uylangco, Katherine, 2010. "Forecasting outcomes in tennis matches using within-match betting markets," International Journal of Forecasting, Elsevier, vol. 26(3), pages 564-575, July.

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