John Staley
San Diego, CA (USA)
Role(s):
Select
Smart Bet
Find More Startups
Startup
Location:
San Diego
Industry:
Entertainment
Year Founded:
2008
Number Employees:
10-50 people
Description:
Smart bet is a betting exchange. betting exchange facilitates the matching of bets between customers. The betting exchange ensures that trading profits and losses are transferred between customers in a timely manner and allows customers to close out positions by trading with any other customer.
Exchange betting allows bettors to bet for or against selections in an event with each other. It removes the need to pay the bookmakers margin, therefore offering better prices for each wager.
The betting exchange makes money by taking a small (3-5%) commission on all net profits made from betting activity.