Betfair – The World’s Largest Online Betting exchange
As an online gambling firm, Betfair manages the world’s most successful online betting exchange. Betfair’s headquarters are situated in Hammersmith in West London, England and Clonskeah, Dublin. It has had a very positive history in the UK and globally. This online betting company introduced the Betfair Casino in 2006.
- The company was launched in 2000 by Edward Wray Andrew Black.
- In 2005 the Tasmanian Government licenced Bet fair, Australia in the state.
- In March 2011, the company shifted some of its operations to Gibraltar to reduce its tax payments.
- Since 9 March 2011 Bet fair has operated under a Gibraltar licence.
- In 2012 Bet fair released a Sportsbook (fixed – odds betting) to compete with conventional bookmakers.
- In 2014 Bet fair was given 2 online gambling licences by the Bulgarian State Gambling Commission.
- Bet fair was registered on the London Stock Exchange as Bet fair Group pic. On 2 February 2016, it amalgamated with Paddy Power to establish Paddy Power Bet fair.
The new business has maintained separate brands in the UK, Ireland and Italy.
Betfair – A Success Story
Betfair becomes the largest online betting company in the UK along with becoming the largest global betting exchange. In April 2013, the company had 1,800 employees worldwide. It has over 4 million customers and 1.1million active customers and ring in profits of 50million pound a week. Betfair maintains it has 20% better odds on average than those proffered by a traditional bookmaker.
Betfair collects a fee on all bets that win. This adds up to a 5% of net winnings for most markets. It is possible to reduce the commission as low as 2% according to the amount wagered on the site. However, a long – term profitable better will be required to pay at least 2% of gross profits and this could increase.
Betfair Casino was launched in 2006. It was one of the first big online casinos from the recognized UK betting brands. The site retains a modern design with a simple style and great functionality. Veteran and new players will enjoy the level of action offered by the table games, live casino games and online slots.
Players in 2017 choose games with themes you can become immersed in. The developer meets this preference with an extensive range of designs for the spinning reels. Some of these have popular TV shows, big movies or famous fairy tales themes.
Multiple languages are available and you can choose from the right – hand corner flag. Betfair is accessible in most European countries but is limited in markets where online gambling is not totally legalized. This includes the United States.
Betfair offers the punter a satisfying experience with the ability to place a bet quickly and efficiently on – line. Their reputation is boosted due to the fact they get their odds up early and often. Betfair has recently promoted a vast horse racing bettor product. The company has concentrated a lot on its online products. This is evident when accessing the website. The Casino room uses Playtech software and characterizes one of the main offerings from the operator.