P2P bets are the most popular type of what is called Betting Exchanges. Betting exchanges work at an individual level and use an online platform for private users to bet and brokers to give advice. A similar platform in a different field is the widely known website eBay. In the sports betting market there was nothing alike till P2P bets appeared. P2P bets provide with special offers. These offers are the product of a commission charged to users. When a user wins, the betting exchange charges him around a 4 percent of his winnings.
The P2P betting model is getting more and more popular all over the world. In the United Kingdom, P2P bets are growing fast and some gambling operators are even thinking about expanding abroad. In other countries, like Germany, they only begin to appear now. Some of the most popular German betting exchanges so far are Spomaxx (Sportwetten Gera) or Betbull (BetandWin). Nonetheless, not all betting exchanges are making the same profit. The most successful company these days is Betfair, which makes around 50 million Euro. Other companies, like Betbull, still find hard to make profit at that scale and barely survives, thus they are thinking about entering the retail betting market.