Betfair Grows to Three Million

Tuesday 11 May, 2010 17:56

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Having more than three million registered customers is quite a milestone and it is one that British sportsbetting exchange operator, Betfair, has recently achieved.

With three million customer, Betfair is now processing more than six million transactions per day and more than 500 million individual bets were handled through the exchange operator in the last year alone.

With the increase in customer numbers comes a substantial increase in revenues and adjusted earnings. From total revenues of £107 in 2005, the company last year reported total revenues of £303 million.

Betfair's adjusted earnings last year - before tax, interest, depreciation and amortization were reported at £72 million - more than double previous reports.

These impressive figures have been released while Betfair is in the process of celebrating its tenth anniversary. Only six months ago, the company had just over 2.5 million register customers.

David Yu, CEO for Betfair has stated that the company's continued growth is a testament to the fact that Betfair now appeals to a wider audience than before. Reaching this milestone of surpassing three million customers in the same year as the company celebrates its tenth anniversary is testament to how far they have come, continued Yu.

Betfair can truly be considered a global company and Yu announced that "reaching our three millionth customer is a significant achievement for which I am extremely proud."

All sportsbetting companies around the world are expecting drastic increases in online betting as the World Cup approaches. As before any major international sporting event, players want to enjoy watching their favourite sport, but also want to try make some money off their enthusiasm. No doubt Betfair, and other sportsbetting sites, will be offering attractive odds for all World Cup matches.

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