Some facts about Betfair trading

The main office and foundation of it is Hammersmith in West London, England. From it foundation to the nowadays, Betfair become the largest company for online bets in Great Britain and the largest bet exchange in the world. It launch in June 2000 and to the date of today, Betfair have over 2 000 000 clients and a turnover in excess of 50 milions pounds in a week.

Exchange that use for adding some bets on a various type of markets, is the main instrument on that operate punters or gamblers between each other. Betting exchange play role of virtual bookmaker. The bets that every punters can make are two kinds: "Back" bets, which are normal bets on a selection to win and "Lay" bets, that are bets on a opposite side of the Back, against the selection.

Commissions in Betfair are owe only if you have some winning bets. The amount of the commissions often is around of 5% of the winnings for most kind of the markets. But some of the sites support Betfair, offer to their clients amount of commissions of the sort of 2%.

The interface of system Betfair, may be seem to you like the Stock Exchange, with the options "back" and "lay" which are like alternatives on buy and sell options for derivates or shares. And like in Stock exchange, on the Betfair market, there are so many marketmakers, who play for profit on it, but use some kind of robots for their purpose, instead to stay overnight front of computer.

So, let see some history. Co-founders of Betfair - Andrew Black and Edward Wray, became the winners of the Year award of the Ernst and Young Emerging Entrepreneur in 2003. In that 2003 year, the winning company was one of about 50 recipients of the Queen's Awards for Enterprise, in the category for Innovations.

Two years later, October 2005, Stephen Hill, who is a chief executive announced his resignation in the time when the chief board decided not to proceed with plans for a stock market flotation.

Same year, but a month later, the Tasmanian government announced a deal to give a license on Betfair in the state. It was the second license, that Betfair won outside the UK. The first one was in Malta, with subsequent licenses, than follow licenses from Austria and Germany.

Next year, in 2006, Betfair present a new interface, in which was include current live scores of in-play soccer matches, jockey silks and horse form. And some kind of express view of viewable current "back" odds.

Spring of 2007 or partially March, 2007, Betfair present their own radio service, which is online radio, available only through their website. Also connection on the telephone and elsewhere. Nowadays this radio station is called Timeform Radio, informing their clients for horse racing commentary and results.