Betfair
 |
|
| Public | |
| Traded as | : |
| Industry | Online gambling |
| Genre | Betting exchange and bookmaker |
| Fate | Merged with Paddy Power, forming Paddy Power Betfair |
| Founded | 2000 |
| Founder | Andrew Black and Edward Wray |
| Headquarters | London, United Kingdom |
|
Key people
|
Gerald Corbett, (Chairman) Breon Corcoran, (CEO) |
| Revenue | £393.6 million (2014) |
| £61.6 million (2014) | |
| £51.0 million (2014) | |
| Website | betfair |
Betfair Group plc is the world's largest Internet betting exchange. The company's headquarters are located in Hammersmith in West London, England. Since 9 March 2011 Betfair has operated its betting exchange under a Gibraltar licence. It was listed on the until it merged with Paddy Power to form Paddy Power Betfair on 2 February 2016.
The company was founded in 2000 by Andrew Black and Edward Wray.
Softbank purchased 23% of Betfair in early April 2006, valuing the company at £1.5 billion. In December 2006, Betfair completed the purchase of the horseracing publishing company Timeform (which traded under the name Portway Press Ltd).
In March 2007, Betfair launched its own Betfair Radio service, available via its website, on the telephone and elsewhere. This has now become Timeform Radio, broadcasting horse racing commentary and results.
On 27 January 2009, Betfair announced the purchase of the TVG Network in the United States from Macrovision $50 million USD as part of Macrovision's dissolving of TV Guide's assets.
In November 2009, Betfair announced a deal with the New York Racing Association that allows Betfair's customers to start wagering immediately on Aqueduct's thoroughbreeding races.
Betfair floated on the with a of BET on 22 October 2010 at £13, valuing the company at £1.4bn ($2.2bn).
In March 2011 the company moved some of its operations to Gibraltar to reduce the amount they paid in tax.
In 2012, Betfair launched a fixed-odds betting sports betting service to compete with traditional bookmakers.
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Wikipedia