Betfair Group plc is the world's largest Internet betting exchange.
The company was founded in 2000 by Andrew Black and Edward Wray who subsequently won the Ernst and Young Emerging Entrepreneur of the Year award. In 2003, the company was one of about 50 recipients of the Queen's Awards for Enterprise in the Innovation category.
Since Betfair was launched in June 2000 it has become the largest online betting company in the UK and the largest betting exchange in the world. Betfair claims to have over 4 million customers (1.1 million active customers) and a turnover in excess of £50 million a week.
In 2012, Betfair launched a fixed-odds betting sports betting service to compete with traditional bookmakers.