Discuss: Betting Exchanges Impact Upon Consumer Welfare. The issue of increased consumer welfare within the sports betting industry due to betting exchanges has been examined by the social scientists and empirical researchers from varied perspectives

Write 6 pages with APA style on Betting Exchanges Impact Upon Consumer Welfare. The issue of increased consumer welfare within the sports betting industry due to betting exchanges has been examined by the social scientists and empirical researchers from varied perspectives (e.g. Bird and McCrae, 1987, p1552. Tuckwell, 1983, p106. Bolton and Chapman, 1986, p1040. Hurley and McDonough, 1995, p949. Sung et al, 2005, p75). It is revealed that the betting exchanges offer a wide array of benefits to the consumers however, at the same time, there are some disparaging issues that lower down the credibility of the betting exchanges (Michael, 2009, p2). The dominating school of thought argues that the betting exchanges work significantly to increase the welfare of the consumers of the sports betting industry because these exchanges offer certain unique opportunities and options that were not available to the consumers through traditional bookmakers (Hurley and McDonough, 1995, p949). This impression is supported by a growing body of evidence that substantiate the significance of betting exchanges for the sports betting industry.