As of November 21, 2012, what is the market share for the U.K.-based company Betfair?
The most recent information found concerning Betfair's market share is that the company has a minimum market share of 75 percent and up to 90 percent. Based in London, England, Betfair is a worldwide organization that has their innovative Betting Exchange.
With this Exchange, customers converge to bet at odds they are looking for or offered by other customers. The Betfair Group owns gambling licenses in Gibraltar, Malta, Italy, the U.S., as well as Tasmania.
In addition, Betfair offers a spectrum of other sports betting products, casino games and poker. Furthermore, Betfair owns the LMAX Exchange. LMAX is a financial exchange for CFD Trading and FX trading. Betfair launched the LMAX Exchange in 2010 to innovate online CFD Trading and FX trading.
Betfair established their business in 2000. The Company's Betting Exchange only accepts bets if the complete risk of each can be matched with another customer or a set of customers with the opposite view.
The Company's Betfair Games consists of the Betfair Casino, Exchange Games and the Betfair Arcade. In November of 2010, Betfair won three awards. They won the 'UK Operator of the Year', the 'Mobile Operator of the Year' and the 'Innovation of the Year' awards. The Company was founded in May of 1999 by Mr. Andrew Black and Mr. Ed Wray.