Utilize the input text as a context reference, choose the right relationship between Betfair and online gambling from the options. Options: product/material produced, manufacturer, distributed by, industry, position held, original broadcaster, owned by, founded by, distribution format, headquarters location, stock exchange, currency, parent organization, chief executive officer, director/manager, owner of, operator, member of, employer, chairperson, platform, subsidiary, legal form, publisher, developer, brand, business division, location of formation, creator.

On the upside, shares in mid-cap Betfair soared 17 percent after the online gambling company and Irish rival Paddy Power said they had reached an agreement in principle on a possible merger, marking the latest in a string of possible tie-ups across the sector.
industry