Betfair plc got some great news on Monday after the Italian Government informed the European Commission of its intention to license and regulate online betting exchange operations.

Betfair is the world’s largest internet betting exchange .It boasts the title of the largest online betting company in the UK and the world’s largest betting exchange.

This development will lead to Betfair making an application to operate in what is considered one of the most lucrative gambling markets in Europe under its existing online gambling license.

In an announcement from Betfair the company stated,” The company looks forward to working with the Italian authorities to obtain this authorization over the coming months. The Ministerial Decree will now be reviewed by the European Commission, after which it will be returned to the Italian Ministry of Finance for signing following which it will enter into force.”

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