Founded in 1999, this London company is well established in the online betting market. Betfair enables punters to choose their own odds and bet against each other even after an event has started, making money by charging a small commission on customers’ net winnings. Andrew Black and Edward Wray sold 23% of the business to Softbank for an estimated £345m in 2006. International expansion and the company’s growing popularity have driven sales growth of 40% a year from £66.7m in 2004 to £181.9m in 2007.
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