PokerStars has created a new peer-to-peer online betting exchange that will increase the opportunities for social experiences on the company’s website. The idea behind an exchange is to enable consumers to create bets and then buy and sell them to other people who may be interested in backing the same selection. This will further increase the range of available betting markets to consumers, the Flutter Entertainment-owned company assures.
PokerStars Enters the World of Betting Exchanges
PokerStars Exchange is incorporated as part of the existing .com and .eu domains and will enable a global audience to interact and participate in various markets as enabled by the exchange. PokerStars Exchange is not navigating this new industry on its own, but rather borrowing from the expertise of another established Flutter Entertainment brand, Betfair Exchange.
PokerStars director of product Richard Garrod has talked about this new opportunity for PokerStars, traditionally associated with the poker community and some of the biggest prize pools. He noted that the company is constantly looking to expand its reach in new markets and create new opportunities.
Collaborating with Betfair Exchange to make the PokerStars’ product a possibility was a welcomed opportunity for the company. Garrod explained that poker and sports betting had distinct synergies between an exchange product and the existing PokerStars’ offer that were difficult to miss:
“Our research suggests that our customers would welcome the addition of an exchange product, with 70% of current sports bettors saying they want to get involved.”PokerStars director of product Richard Garrod
PokerStars is confident that the new exchange product will be a greater value for the end customer as well as it will great fresh opportunities for users to benefit from better odds and values.
PokerStars and Betfair to Share Liquidity
Part of this added value for the customer is achieved through the model of the exchange which pits consumers against one another, but another comes from the fact that PokerStars Exchange is sharing liquidity with Betfair Exchange.
This creates fresh opportunities for bettors to interact with players from all over the world in a unique manner that will boost sharp bettors’ ability to leverage their knowledge of sports betting and will create further value for recreational bettors who are looking for some novel way to place a wager o their favorite team.