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'The Challenges Facing British Racing: Problems at the Betting Exchange' After a recent spate of horse races have been referred to the Jockey Club concerning controversial rides, questions have arisen over the regulations of betting exchanges. A betting exchange is an on-line betting medium where punters bet against each other, and have the option of backing or laying. The exchange acts as a broker and takes out a commission for providing the service. These exchanges are the most revolutionary phenomenon to hit betting since the opening of betting shops and have only been made feasible by the growth in internet activity. Concerns begin over racing's integrity, with the fact that certain individuals have the ability to act as a bookmaker without any sort of permit. Many fear that the betting exchange system, which offers profit simply from a horse getting beaten, is too open to abuse and exploitation. In one tragic case a...

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