When  asked, back in November, how will the absence of the home nations affect Euro 2008 turnover, one bookmaker replied: “I'd expect it to be down at least 40 per cent.”

That comment was proved mere pie in the sky as Betfair report that last night’s match between Germany and Croatia saw an unbelievable £22,948,364.46 traded on the 90-minute market alone.

That made it the biggest football match in Betfair’s eight-year history, by some distance.

The previous biggest football match odds market on the exchange was the Argentina-Mexico game in the 2006 World Cup, which saw £21,238,326.48 in traded volume.

But, despite an early evening, midweek kick-off, and a relatively low-key match where the lead didn’t change hands, last night’s Germany-Croatia game, won 2-1 by the underdogs, produced unheard of figures on the betting exchange.

Betfair spokesman Tony Calvin observed:  “It could well be that, given that the absence of the home nations, that some UK-centric bookmakers levels of turnover are indeed markedly down. But, given our extensive and growing worldwide client base – one in two of our new customers are non UK-based – Betfair were always confident of a vibrant Euro 2008.

 “However, it must be said that we have been slightly taken aback by the huge interest in the tournament, and to see our biggest-ever market eclipsed so early in the tournament is phenomenally exciting for our football product.

 “If Betfair is any barometer of the industry turnover, then this is set to be the biggest football tournament in betting history.”

Click here to go to Betfair's Euro 2008 Offer page