Betfair is one of the world?s largest international online sports betting providers and pioneered the first successful Betting Exchange in 2000. The Betting Exchange, where customers come together in order to bet at odds sought by themselves or offered by other customers, has eliminated the need for a traditional bookmaker. Driven by world-leading technology the company now processes over five million transactions a day from its three million registered customers around the world. In addition to sports betting, Betfair offers a portfolio of innovative products including casino, exchange games, arcade and poker.
At the heart of Betfair is the pioneering Betting Exchange, where customers come together in order to bet at odds sought by themselves or offered by other customers, thereby eliminating the need for a traditional bookmaker. Betfair also offers a range of other sports betting products, casino games and poker.
Betfair also owns LMAX, which has developed an exchange platform for online retail financial trading that has evolved from Betfair?s exchange technology. LMAX was originally established by Betfair in 2007 and has invested significant resources since then in developing its proprietary exchange which launched in October 2010. Betfair also owns Betfair US, which comprises TVG (a licensed US horse racing wagering and television broadcasting business) and a development office in San Francisco.
In addition, Betfair has a 50 per cent. Shareholding in Betfair Australia, a joint venture which operates a licensed betting exchange business in Australia.
Betfair has twice been named the UK?s ?Company of the Year? by the Confederation of British Industry and has won two Queen?s Awards for Enterprise, being recognised for Innovation in 2003 and most recently for International Trade in 2008.
Betfair employs more than 2,000 people, with more than 100 also employed by Betfair Australia. The Betfair Group owns gambling licenses in Gibraltar, Malta, Italy, the United States and Tasmania.
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