In 2004 Chris Bell, the then boss of Ladbrokes, a bookmaker, claimed that at least one race a day was being fixed, and blamed betting exchanges.

在2004年的Chris Bell，当时Ladbrokes的老板——一位赌注登记经纪人，宣称每天至少一场比赛的结局是固定了的，并归咎于赌博交易。

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At that time, they consisted of side betting parlors (much smaller than exchanges).

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Nasdaq is betting that regulators will ask banks that now trade these instruments over the phone to move them to exchanges where pricing will be instantly available to everyone.

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For instance, exchanges the gambling equivalent of online auction sites have lowered the costs of betting by cutting out bookmakers through matching gamblers offering and accepting bets on just about anything.

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