If a report on the gambling compliance website is to be believed then the leading sports betting exchange Betfair will be launching a new online bingo site powered by Playtech. The report goes on to claim that Betfair are most likely to operate both an online bingo and a televised bingo version which would be the first step into the world of online bingo for the well known sportsbook. As well as reportedly supplying the new bingo software for Betfair, the Gambling Compliance article states that Playtech will also now supply the Poker and casino software.
The Gambling compliance report states that the new deal with Playtech to supply online bingo and gaming software will end Betfair’s association with Chartwell Technology who currently supply slots and blackjack and the scrapping of Betfairs own poker platform. If there is truth in the rumour that Playtech are going to supply Betfair with the new portfolio of online bingo and gaming products, then it is most likely that Betfair have been influenced to select Playtech because of the success enjoyed by big gaming names such as William Hill, Bet 365, Paddy Power and Betfred who all employ Playtech casino and poker platforms.
Betfair, although they are an established name in gambling do not currently operate as a conventional bookmaker but as a betting exchange. This allows customers to place bets to either back (to win) or lay (to lose), these bets are then matched between customers so one will be betting on a market to win and another will be betting on the same market to lose. This exchange system of betting is a completely different principle to bookmakers who lay bets themselves. Betfair were the first company to offer an exchange betting system which allows betting customers to choose their preferred odds. Since the launch of Betfair in 1999 the company has continued to grow into other areas of gaming including casino, poker, arcade games, exchange games and spread betting. The addition of an online bingo games site to the company portfolio will further enhance their already strong online position.