Tag Archives: The Sporting Exchange
History of BetFair, from the concept to the startup —in Andrew Black and Edward Wray’s own words
I already linked to it, but you should re-read the 2008 TIME interview of BetFair’s two founders.
Awesome literature, if you are an entrepreneur.
Take 10 minutes today to read that.
GREAT NEWS: Stephen Burn is now the big boss at BetFair USA [*], and Gerard Cunningham is out. – [VIDEO]
BetFair won’t release any public press release on all this, but they told me what’s on this site is accurate: Stephen Burn (previously director of horse racing) is taking over BetFair US leadership, including TVG.
We have decided that the strategy for the U.S. is to enhance our horse racing offerings and to support our global [...]
DOCUMENTED: How Mark Davies joined a small startup called BetFair —when it was just an Excel spreadsheet file
Read the whole thing, it is entertaining.
SportingExchange Financial Statement for Year Ended 30 April 2009
“The profit on ordinary activities for the year was £24.8m (2008 £50.5m). ….During the year the company disposed of its investments in BDD Holding A/S and Invest World A/S, two companies in Denmark, which closed during the year. The company recognised a loss on disposal of these investments of £11.9m).”
I am trying to determine whether [...]
BetFair is the best innovation that happened to horse-race betting.
#1 innovation of the decade = Peer-to-peer wagering
“In 2000 two men who liked to play card games and make a bet or two created the Ebay of betting –- an exchange where players could bet with each other.”
BetFair co-founder Ed Wray laments the suppression of UK’s tax incentive for startup entrepreneurs.
BetFair chairman Ed Wray: “Too many hurdles in the way of enterprise”.
Wray refers to a tax incentive that he and Black used to launch Betfair after they were forced to go to friends and family for funds, having failed to raise capital from institutional investors.
“That was very useful in terms of getting the business off [...]
BetFair is world’s third most valuable Internet startup.
The Silicon Alley Insider 50+ Top Ten:
1. Facebook
2. Wikipedia
3. Betfair
4. NewEgg
5. Craigslist
6. Mozilla
7. Yandex
8. Webkinz (aka Ganz)
9. GoDaddy
10. Demand Media
BetFair invests in WaterCooler.
- VentureBeat
- The Times Of London
UPDATE: The press release
Are BetFair wasting their time with Right2Bet?
One commenter:
A case of throwing good money after bad. Ever since the European Court of Justice’s judgement in Placanica, the European betting companies have poured good money down the drain, attempting to lobby the European Commission ( I will not name names). They have also spent a fortune attending conferences, where they have been told [...]
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