Chief executive Malcolm Gray said yesterday: "An exchange only thrives with the assistance and patronage of its customers so I would like to thank every WBX member who has helped us achieve this considerable milestone."

In late May, WBX attempted to turn up the heat on Betfair by offering its rival's customers the opportunity to continue betting at their old commission rate, and the move has been rewarded by an influx of new account holders, according to Gray.

"WBX remains committed to constant innovation within the exchange betting industry," he said, "and the Betfair Rescue Package and latest zero per cent commission promotion are just two recent examples of a far-reaching programme of new services, products and incentives which we are confident will see WBX take even bigger strides forward in the coming months."

WBX plans to soon have UK place markets available on the site, as well as markets on Irish racing.

Asian handicap betting will be available when the new football season starts and there will also be punting opportunities associated with a number of televised greyhound races.