We all know traders like to use InTrade when gauging the outcome of the presidential election, but some traders, who might also consider themselves professional speculators, will also be watching Betfair.
We asked one trader who told why he prefers Betfair to InTrade.
"When you compare the two sites, Betfair's liquidity and real time technology make it a superior tool in assessing the pulse of the election," the trader said, adding, "And the more liquidity a market has, the more efficient it is. You always want to be trading at the market with the most liquidity."
To be clear, the trader we spoke to is not betting there. He's simply using it as a means to assess the market.
That being said, the trader told us he thinks it's "the best real-time assessment of who is going to win the election."
Right now, the site shows Obama is the odds-on favorite, but the odds are constantly changing.
When we last checked the pricing, Obama was listed at 1.25 , which means you make 25 cents for every dollar you bet on Obama.
Meanwhile, Romney is paying +4.8 when we last checked, which means if I give you a dollar, I get back a net profit of 3.8 dollars as of this very moment.
Again, these odds are constantly changing. So far, over $32 million has been wagered on Betfair.
"This will be particularly important later on in the day when polls begin to tally results and the betting markets can be one of the fastest places this information is reflected," the trader added.
More From Business Insider