Betfair 30% Revenue Rise
1st October, 2007
Betfair, the leading online betting exchange yesterday announced a 30% rise in annual revenues. They attributed this to 'significant investment in technology and new products'.
Betfair has also introduced an online casino, re-launched Betfair Poker and improved its marketing efforts, attracting record numbers of users to the site. With over a million registered customers, the number of active users is up 57% on last year. Betfair provides a system where punters can bet against each other, with odds that are on average 20% better than the traditional bookmaker. Founded in 2000 by Andrew Black, a former professional punter, the company was valued at £1.54billion in January last year.
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