23 Facts About Betfair

Betfair is a British gambling company which operates the world's largest online betting exchange.

In February 2016, Betfair merged with Paddy Power to create Flutter Entertainment.

In December 2006, Betfair completed the purchase of the horseracing publishing company Timeform.

In March 2007, Betfair launched its own Betfair Radio service, available via its website, on the telephone and elsewhere.

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.

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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.

In May 2012, Betfair launched a Sportsbook service to compete with traditional bookmakers.

In late autumn of 2005, Betfair finalised a deal that began in early summer, to purchase the online poker site PokerChamps.

In February 2014, Betfair were granted two online gambling licenses by the State Gambling Commission of Bulgaria.

In March 2018, Betfair successfully trialled an auto-cash out feature with its live betting customers in the UK and Ireland.

In December 2021, Betfair announced the launch of their online casino overseas.

The Court held that the relevant law would have no discriminatory or protectionist effect on interstate trade, thereby complying with section 92 of the Constitution of Australia, and that Betfair had not proven that the fee would cause significant economic damage.

Betfair has sponsored many sporting events, teams and organisations, including Barcelona FC and Conmebol – South American football's governing body.

In September 2011, Betfair admitted that it had concealed the theft of confidential customer data from the company's 2010 share prospectus.

Betfair further stated that it had informed the Serious Organised Crime Agency of the incident which happened on 14 March 2010 but was not discovered by Betfair data security until 20 May that year.

Betfair offer in play betting on a variety of horseracing events.

The practice drew widespread scrutiny after one such agent, working for a company established by former Betfair employees, was arrested at the 2014 Australian Open; charges were later dropped.

In September 2008, Betfair introduced a "Premium Charge" for wagerers whose winnings are particularly high compared to the amount of commission they pay.

Betfair has noted that they have signed numerous information sharing agreements with governing bodies around the world, with whom they cooperate on matters if the latter suspects corruption to have taken place.

Betfair has agreements with some thirty sports bodies, such as the Lawn Tennis Association and the British Horseracing Association, and has been instrumental in several high-profile investigations into suspicious betting.

At the disciplinary hearing into Findlay's betting against Gullible Gordon, it was revealed that Findlay had been in financial difficulty and that Betfair had allowed him to use the account of a friend, racehorse owner Eammon Wilmott.

In September 2011 Betfair refused to honour winning bets made by their customers on The Tote Jackpot bet at Newmarket Racecourse.