Betfair to IPO on London Stock Exchange

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BREAKING: Betfair, the world’s biggest Internet betting exchange and a UK Internet success story, is today announcing plans to list on the London Stock Exchange as part of its first moves to go global with the business. The company cuts out traditional bookmakers by matching individual gamblers who bet against eachother.

The UK is still it’s biggest market so growth will come internationally, specifically Europe and Australia with development in the longer term in the United States, India and China.

Betfair was launched 10 years ago by Andrew Black, a former professional gambler, and former JP Morgan trader Edward Wray, who jointly own one quarter of the group.

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