Betfair

Betfair is an online gambling company which operates the world's largest online betting exchange. It also offers a Sportsbook (fixed odds betting), online casino, online poker and online bingo. The company's headquarters are located in Hammersmith in West London, United Kingdom and Clonskeagh, Dublin. It was listed on the London Stock Exchange as Betfair Group plc, until it merged with Paddy Power to form Paddy Power Betfair (now Flutter Entertainment) on 2 February 2016. The company was founded in June 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). Betfair was the first betting company to sponsor an English football team, featuring on the kit of Fulham in the 2002–03 season before the Gambling Act 2005 permitted the industry to advertise on television and radio. 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 US$50 million 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 London Stock Exchange with a stock symbol 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 May 2012, Betfair launched a Sportsbook (fixed-odds betting) service to compete with traditional bookmakers. In August 2014, Net Entertainment NE AB entered into a partnership with Betfair to expand its reach into the market in the United Kingdom. It was announced in September 2015 that Paddy Power and Betfair had agreed terms for a merger. The transaction was structured as an acquisition of Betfair by Paddy Power and the enlarged entity, named Paddy Power Betfair, is based in Dublin. The merger was completed on 2 February 2016. Betfair claims to have over 4 million customers (1.1 million active customers) and a turnover in excess of £50 million a week. As of April 2013, the company employed 1,800 people worldwide, down from 2,300 people. Betfair claims on average 20 per cent better odds than those offered by a traditional bookmaker. Betfair charges a commission on all winning bets, the market base rate is set at between 5 and 7 percent of the net winnings for most markets, depending on the country you reside, although according to how much a client wagers on the site, it is possible to reduce the base rate by as much as 60%. However, if a bettor on the website is efficiently profitable Betfair will require them to pay at least 20% and up to 60% of gross profits in total charges after they have participated in 250 markets. These charges are non-refundable if the bettor's account subsequently goes or reverts to an unprofitable status. . In late autumn of 2005, Betfair finalised a deal that began in early summer, to purchase the online poker site PokerChamps.com, which the company will integrate into its network, replacing a poker arm that previously used gaming technology software from CryptoLogic Inc. In a press release, the company's then poker head, Ben Fried, stated: "Having our own poker software puts us in command of our own destiny. It means we can react quickly to customer feedback and continue to develop an innovative, community focused product. We are confident that we are laying the foundations of a market leading poker room. Cash 4 Clubs is a sports funding scheme set up and funded by Betfair. The scheme provides sports grants to local community sports clubs. Betfair owns subsidiaries in the United States. The main company is TVG Network, which is dedicated to horse racing, broadcasting live races as well as race analysis, interviews, handicapping tips and features. It was acquired in 2009 for $50m. Betfair also has a subsidiary called BetfairCasino.com which is a New Jersey licensed provider of online gaming products. In February 2014, Betfair were granted two online gambling licenses by the State Gambling Commission of Bulgaria. On 7 April 2014, Betfair launched its betfair exchange in Italy. In May 2016, it launched a betting exchange in New Jersey, United States. In March 2018, Betfair successfully trialled an auto-cash out feature with its live betting customers in the UK and Ireland. The features allow players to lock in their chosen profit. As of November 2018, Betfair operates in some big European countries like Spain, France, Italy and Germany. However the brand recognises the potential to expand its customer base in Scandinavian countries with Norway being the next target for a license. Other countries like Portugal, where the brand ceased to operate in 2015, have a tax policy that currently discourages the brand from offering its services to those customers.


Betfair is one of the most popular uk bookmaker. The company operates all over the world. It offers online poker, online bingo, a lot of sports and many more. It is perfect choice to gamble what you want whatever you want. Enjoy!

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