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Betfair is a British gambling company founded in 2000. It operates the world's largest online betting exchange. Its product offering 🫰 also includes sports betting, online casino, online poker, and online bingo. Business operations are led from its headquarters in Leeds, 🫰 alongside satellite offices in Ceuta, Dublin, London, and Malta. In February 2024, Betfair merged with Paddy Power to create Flutter 🫰 Entertainment.
History [ edit ]
The company was founded in June 2000, by Andrew Black and Edward Wray.[1] 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).[2]
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.[3][4]
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.[5] 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.[6]
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