Exchange users have long complained about high commission rates, and Betfair’s move looks unlikely to solve the issue for many.
Sensing an opportunity, exbet.io, which is now in live beta mode ahead of a full launch later this year, is offering a headline 1 percent commission – half that of Betfair’s lowest rate.
This will translate to big savings for high volume users who make the switch.
A spokesperson from exbet.io told CryptoGamblingNews.com: “We’re fully focused on the exbet.io beta and we’ve been getting superb feedback from an army of exchange and crypto veterans.
“As far as Betfair’s recent commission changes are concerned, it’s too little too late in our opinion.”
“It’s quite a coincidence that they made this announcement as exbet.io went into beta promising an industry-busting 1% commission.”
The Bitcoin-native betting exchange will launch with a range of major sports presented within a slick UI.
Exbet.io is now live in beta mode ahead of a full launch later this year. To join the exbet.io beta, click here.