2006 Profit Track 100
Rank: 4 Betfair
Says it processes 300 bets a second through its website
The online sports betting company Betfair, which cancelled a stock- market flotation last year, is seeking growth abroad. It has now secured licences to operate in Austria, Malta and Australia. The bookmaker was founded in 1999 by Andrew Black and Edward Wray. It allows punters to bet against each other and takes a commission on winnings. Betfair has grown profits 146% a year from £1.6m in 2002 to £23.2m in 2005. Staff numbers have risen to 420. It recently agreed to sell up to 23% of its shares to the Japanese technology group Softbank in a deal that reportedly values Betfair at £1.5 billion.
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The online sports betting company Betfair, which cancelled a stock- market flotation last year, is seeking growth abroad. It has now secured licences to operate in Austria, Malta and Australia. The bookmaker was founded in 1999 by Andrew Black and Edward Wray. It allows punters to bet against each other and takes a commission on winnings. Betfair has grown profits 146% a year from £1.6m in 2002 to £23.2m in 2005. Staff numbers have risen to 420. It recently agreed to sell up to 23% of its shares to the Japanese technology group Softbank in a deal that reportedly values Betfair at £1.5 billion.
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Company facts
Betfair
Online bookmaker
Company website
| Profit growth | 145.81% pa |
| 2005 profit | £23.2m |
| 2002 profit | £1.6m |
| 2005 staff | 423 |
| Founded | 1999 |
| Location of HQ | West London |
| If applicable: * = annualised figures ‡ = draft accounts |
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