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.

Last week, bookmaker Paddy Power (LSE: PAP.L - news ) and betting exchange Betfair revealed they are in merger talks to create one of the world’s biggest online gambling companies generating more than £1.1bn in revenues.

Answer: industry