Betfair, the world's leading betting exchange site, have just launched the very first online betting exchange in Italy, providing betting customers of the betting happy country to exchange bets with each other at a low commission rate. The new exchange will be ring-fenced for Italians only accordingly with the rules in Italy and they will be paying 20% tax on all the commission charged.
The launch was made after being approved by Agenzie delle Dogane e dei Monopoli, who did in-depth testing of everything. Societa Generale d'Informatico, which is the information and communications technology administration in Italy also approved the platform and Betfair had no remarks.
This means that Betfair will now be able to offer poker, casino, sportsbook and betting exchange on their Italian Betfair.it domain, which is only available for Italian citizens. You will need to have a codice fiscale to be able to register an account with them, which is only available to people living inside of Italy.
"We are pleased to be the first fully regulated exchange operator in Italy and look forward to bringing the advantages of our innovative betting platform to Italian customers, including the ability to cash out their bets. We believe this launch marks an important step in our drive to grow sustainable revenues." CEO of Betfair, Breon Corcoran said.