Betfair are best known as the company that popularised the exchange market in betting, in which peer-to-peer betting can take place with the middle man of the bookmaker all but removed. In recent years they’ve also added a traditional sportsbook to their roster, so people that find the exchange a bit confusing and daunting can still use their services. Of course, it’s the exchange where the site really excels so it’s going to be worth your while finding out how it works if you hope to make the most of what they have to offer.
Whilst the number of sports that they offer odds on isn’t as overwhelming as with some other sites, the odds and markets that they offer on the sports that they do cover are always impressive. There’s no question that In-Play betting is one of Betfair’s major strengths, so if you like to bet on events as they’re panning out then this is the site for you. The exchange offers decent odds almost uniformly because you get to dictate what you’re looking for yourself.
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While Paddy Power Betfair have rebranded to Flutter Entertainment, the high street names Paddy Power and Betfair will still operate for now under the same names and branding. The news comes as the company looks to expand with the name perhaps a nod to Flutter, an exchange company that Betfair acquired in 2002.
Betfair and Paddy Power have completed their merger, with the new company likely to have a turnover of in excess of £1.1 billion. It will combine the online offering of Betfair with the high street shops of Paddy Power to create a business with a 16% market share, making it one of the biggest in the world.
Betfair, the betting exchange company, has paid £5 million for various assets of the bookmaker Blue Square, including its customer database. In a deal that could rise to £35 million depending on performance, Betfair have also acquired to company’s poker site and its associated customers.