About Betfair (Betfair)
Founded in June 2000 and located and licensed in
the United Kingdom,
Betfair is the world's largest online
betting exchange retaining an estimated 85%
share of this growing multi-billion market. A
betting exchange allows customers to bet at
prices set by them, rather than having to accept
prices dictated to them by the wagering
operator. Using sophisticated technology
modelled on the New York Stock Exchange, Betfair
accepts bets placed by individuals on a wide
range of sports, horse racing, entertainment and
financial events, and immediately offsets them
against counter-orders from other customers.
Betfair is a Betting Exchange, there is no
bookmaker on Betfair, just people exchanging
bets. They have removed the bookmaker and his
hefty margins from the betting process. -
Replaceing the bookmaker with a community of
punters who put their knowledge to the test
against each other. Odds are consistently around
20% better.
With turnover exceeding Pounds Sterling 50
million per week, Betfair has over 200,000
registered users from more than 85 countries
worldwide, and processes more transactions per
day than the London Stock Exchange. The
company's founders were jointly voted Ernst &
Young Emerging Entrepreneur of the Year 2002.
Betfair was awarded the Queen's Award for
Enterprise, in the Innovation Category for 2003.
Sports Betting
