Why aren't there legitimate betting exchanges in the US

[crinkledaces]

I see so many players get limited and restricted why don't we just band together and open up our own exchange in the United states. I mean are they illegal or something? I just don't get it.... It would be awesome to have BETFAIR or Matchbook here.

[littlekona]

I see so many players get limited and restricted why don't we just band together and open up our own exchange in the United states. I mean are they illegal or something? I just don't get it.... It would be awesome to have BETFAIR or Matchbook here.

New Jersey does I see it advertised during horse racing from Monmouth and Big M. State by State is problem

[Optional]

I see so many players get limited and restricted why don't we just band together and open up our own exchange in the United states. I mean are they illegal or something? I just don't get it.... It would be awesome to have BETFAIR or Matchbook here.

Because they would need to pay 30-50 different license fees is probably one reason. Being allowed to co-mingle funds from all states into one pool could be another.

[comet52]

I see so many players get limited and restricted why don't we just band together and open up our own exchange in the United states. I mean are they illegal or something? I just don't get it.... It would be awesome to have BETFAIR or Matchbook here.

Essentially, yes, because of the Wire Act. You can open an exchange that's limited to a single state, like Prophet Exchange in Jersey. But you can't open a national one. And unfortunately I think that's the only way an exchange could ever get the liquidity to really thrive in the U.S.