Best Odds
Betfair is one of the world’s leading online gaming brands. It pioneered the concept of the betting exchange, which has revolutionised gambling for thousands of punters around the world. Driven by cutting-edge technology, Betfair enables punters to choose their own odds and bet against each other, even after an event has started.
Founded in June 2000, the betting exchange brought an end to the 'take it or leave it' price mentality of the traditional bookmaker. Betfair has created a platform that removes the middleman and geographical boundaries to allow punters to bet at prices that they set themselves and manage their book more effectively and efficiently. It also results in prices that are consistently up to 20 percent better than those offered by traditional bookmakers.
Such innovation has revolutionised the traditional industry. Betfair’s technology provides a real-time, competitive and clean market price and trading environment. With no comparable blueprint for Betfair’s IT infrastructure, Betfair has pioneered the concept and creation of the betting exchange. Betfair’s market leadership has been achieved through a balance of core in-house designed software and carefully selected best-of-breed products. It now processes five million transactions a day and processes 99.9 percent of bets in less than one second.
Betfair was founded on the principles of offering the consumer greater choice, control and value and has delivered on all of these. Customers can now directly express a view that an event will happen or won’t happen. Betfair also offers genuine in- running betting, including all horse races. Since prices tend to fluctuate during the course of an event, 'in-play' betting is a truly exciting development for punters who are now able to trade their betting positions.
Over the past six years Betfair has launched a series of products in addition to the betting exchange, including poker, casino, exchange-enabled games, and a mobile product, to bring even greater choice to the marketplace. Betfair Games, which includes Betfair Poker, is hosted from Malta and is an area which has seen significant growth and investment.
Betfair is now available in 18 different languages, has over 900,000 registered customers worldwide and handles 15 times more transactions a day than the LSE. A licensed bookmaker in the UK, it also has licences in Australia, Austria and Malta and is seeking licences elsewhere within the European Union and further afield, notably in South Africa.
Betfair welcomes regulation and is committed to paying the appropriate product fees in every market in which it operates. Betfair has taken a very strong line in its approach to regulation and therefore will not accept any bets from customers based in the US, China or Japan. It has also just opened its second major, international office in Australia, making Betfair a truly global innovation.
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