Cross matching

[Iron]

Interesting Gambling Commission press release from 2008 (http://www.gamblingcommission.gov.uk/gh ... r_and.aspx):

The Gambling Commission has had under consideration a change to Betfair's practices introduced on 18 February 2008 under which Betfair General Betting Limited (BGB), a company in the Betfair group, accepted customers' bets on the Betfair Exchange in connection with a process called ‘cross matching'.

Cross matching extended the bet matching process to permit matching across different selections in the same market, with BGB acting as counterparty to allow customers' bets to be matched. Cross matching was introduced without informing customers in advance. BGB made revenues of approximately £300,000 from the inception of cross matching until the end of March 2008.

If my reading of the above is correct, Betfair not only acted as an honest broker where cross matching was concerned, but some of the bets were matched by Betfair themselves...

Jeff