The fascinating story of a huge international business success story, and how one company has created legions of new gamblers and changed the worlds of gambling and sport forever. A betting exchange is an Internet company which provides gamblers with an online marketplace in which they can bet with each other. Betting exchanges now account for a third of all betting in Britain. Betfair is the world's preeminent betting exchange, with 90% of the global market. Betfair oversees five million bets each day--10 times greater than the volume of the London Stock Exchange trades.