What does it take to build a $2 billion consumer Internet company in the UK? For starters, center it around a market that’s illegal in the US. Betfair, a marketplace that matches and executes some five million wagers everyday, went public earlier this year and is valued at more than $2 billion.
It has a few things in common with the other $2 billion-plus Internet win out of Europe, Skype. While… → Read More
Smarkets, the London-based social gambling startup, has announced that it’s seen over £1 million traded on its ‘betting exchange’ since it publicly launched in February. The site, which competes with the likes of Betfair and to some degree intrade and betdaq, lets users set their own odds and bet against each other before and during events.
The company has also revealed that it’s finally going… → Read More
Most Web sites started in the late 1990s have either gone public, been acquired or are defunct. Wired has a rather harsh cover story on one of the most famous ones that isn’t, Craigslist. But there’s another one that could rile up even more attorneys generals and socially conservative figureheads: Betfair.
The London-based online gambling company is seldom written about or mentioned in the… → Read More
The Superbowl is in 17 hours, but many people think they already know who will win. The odds on betting site Betfair give the the Pittsburgh Steelers a 69 percent chance of winning versus the Arizona Cardinals. Both were seen as long shots at the beginning of the season, when the Steelers were given a 4 percent chance of winning the Super Bowl, and the Cardinals were only given a 1 percent… → Read More