Betfair, the online betting exchange recently hit a major milestone by passing the third millionth registered customer mark. The company which was established a little over 10 years ago has gone on to become the global player in the betting exchange market.
The news comes as no surprise to those that have been using the Betfair betting platform for years. By matching bets between punters, Betfair claim to offer 20% better odds than the traditional bookmaker.
Their expansion into the Australian market back in 2005 has been a major contributor to the growth in the company finances, with revenue having tripled to over $480m in the years since they set up base in Tasmania.
In an agreement with the Tasmanian government, Betfair Australia were licensed to provide sports betting odds which effectively opened up the Australian market. However, the agreement related solely to sports betting and the company remain unable to offer poker, and online pokie games to its Australian facing audience, despite being able to offer these products to other geographic markets.
Commenting on reaching the milestone, David Yu, Betfair’s CEO stated
“Reaching our three millionth customer is a significant achievement of which I am extremely proud of.”
And Yu doesn’t believe the growth is going to slow down having made it clear that 4 million customers is a target that is realistically achievable given the fact that the World Cup is just around the corner.
Source: Online Pokies Club
Tags: australia, Australian gambling, Betfair
This entry was written by admin on Wednesday, April 28th, 2010 at 8:56 pm and is filed under News.
