Betfair are one of the big innovators in the world of online betting, they were one of the front runners, the industry leaders to really drive on with the peer to peer betting platform that is the exchange. It has revolutionised the way that punters bet, because odds can be defined and selected and punters are able to back and lay a selection in a market. They are the biggest internet betting exchange in the world and they have seen tremendously rapid growth since their start in just 2000. They are now one of the most recognisable brands in online betting and they were fortified further when they merged with Paddy Power to form Paddy Power Betfair in early 2016, creating the biggest gaming company in the world and they also run a traditional sportsbook as well, giving punters the best of both worlds. Betfair launched a fixed-odds betting service in 2012 to enable it to compete with mainstream bookmakers to allow the company to become more financially viable across the sports betting industry. For its customers in the UK, Betfair is licensed and regulated by the UK Gambling Commission. For Australian customers, Betfair is license and regulated by the Tasmanian Liquor and Gaming Commission. For its international customers, Betfair is licensed and regulated by the Malta Gaming Authority.