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Posts Tagged ‘Betfair’
Friday, September 24th, 2010
Betfair has announced their intention to go public after 12 years in the online sportsbetting industry. The bookmaker originally opened more than a decade ago with a fresh idea.
Just like holdem sites, Betfair wanted to give sportsbettors an opportunity to bet on sports, without betting against the house.
Betfair matches up sportsbetters with other betters in what’s called a betting exchange.
The site was originally launched by Pro gambler Andrew Black and Mr. Wray, a JP Morgan Trader. Today, those two industry pioneers own 24% of Betfair.
Since their induction into the online sportsbetting scene, the companies remained at the forefront of the industry, offering cutting edge options in punting, such as in-game-play betting, and house-free bets.
Representatives of Betfair say that they’re not going public so much to raise money, as no new shares will be issued at this time. The companies 14 major investors have each pledged to sell 10% of their own interest in the company.
In addition to a sportsbook and betting exchange, Betfair offers online poker, and an online casino.
Tags: Andrew Black, Betfair, Betters, Betting Exchange, Bookmaker, Cutting Edge, Forefront, Free Bets, Fresh Idea, Game Play, Induction, Industry Pioneers, Intention, Jp Morgan, Online Casino, online poker, Online Sportsbetting, Poker Online, Pro Gambler, Sportsbook
Posted in Poker Industry News | No Comments »
Wednesday, June 2nd, 2010
 As many online gambling sites move away from the French gambling industry many are moving in. after new legislation was passed a short time ago in France, many gambling companies including Betfair and William Hill have moved out of the region, as they decide if they are going to obtain a license to operate in the area. However as many pull out, more are moving in. one such company is TF1, the largest television broadcaster in France.
Societe Television Francaise 1 otherwise known as TF1 recently released a press release which read they are going to extend their gambling service Eurosportbet to France. This offering includes online poker as well. In the release TF1 commented: “TF1 is exploring all areas that are connected to the universe of entertainment.”
Francaise de Jeux a state monopoly in France confirmed that they signed a deal with Lucien Barriere to offer online poker to French players as well. Lucien Barriere is a land casino operator and another company that is moving into the online poker industry in France.
Back in April lawmakers opened the countries betting market so many foreign companies are jumping at the chance to move into the market first. The new legislation passed by the French Parliament is imposing a 7.5% tax on online sports and horse racing wagers. A 2% levy has also been placed on poker bets.
Tags: Betfair, Bets, Casino Operator, france, French Parliament, French Players, Horse Racing Wagers, Land Casino, Lawmakers, Levy, Lucien Barriere, Monopoly, New Legislation, Online gambling operations, Online Gambling Sites, online poker, Short Time, Societe Television, State Monopoly, Television Broadcaster, Television Francaise 1, Tf1, William Hill
Posted in Poker Industry News | No Comments »
Wednesday, June 2nd, 2010
 Rakeback is very important to many poker players as it is a way to get money back while playing poker. Usually the largest amount of rakeback a player will see from an online poker room is 30%, which is a nice rate. However one poker room has decided to increase their rakeback while the 2010 World Series of Poker is taking place.
Betfair Poker an online poker room based in Europe has stated they are going to increase their rakeback percentage to 40% while the 2010 WSOP is running. Members of the site recently received an email which stated: “We are pleased to announce our fantastic 40% Rakeback promotion to go with our other great Poker World Cup 2010 Promotions!”
So even if you are not a member of Betfair Poker, if you sign up in June you will still be able to take advantage of the increase rakeback offering. The rakeback will be paid in a bi-monthly basis which will be the first and third Thursdays of the month.
Betfair already offers 30% rakeback so players will be earning an additional 10% while the promotion is running. The site is also running a Points Chase race worth $125,000 which will see participants receive a $50 or $100 bonus. The race is taking place from June 11th to July 11th.
Tags: Betfair, Bonus, Chase Race, Email, Europe, increased rakeback, online poker, Participants, Playing Poker, Poker Online, Poker Players, Poker Room, Poker World, Promotions, Rakeback, Series Of Poker, Thursdays, World Cup 2010, World Series, World Series Of Poker, WSOP
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Monday, May 17th, 2010
 As the French poker market is opening up to outside operators many gambling operators are getting ready to move in by setting up shop in the area or signing deals with other companies. Surprisingly a few companies are moving out of the French Market.
Both Betfair and Sportingbet, online bookmakers with strong poker sites, have moved out of the French market which will soon be regulated. Betfair released a statement which read that the company is critical of the licensing process in France and they have yet to decide if they are going to apply for a license because the French Authorities have yet to publish the full set of license requirements.
The director of European public affairs for Betfair, Tim Phillips, commented: “We are looking very hard at the French market and how we might operate within the new licensed regime. Though it’s not impossible for a newcomer to create a commercially viable business, most projections show it will be very difficult to do so, given the proposed restrictions imposed on license holders.
French legislation will certainly benefit the incumbent players and the ultimate loser will be the French consumer. The new law does not adequately open the former monopoly’s market to true competition from other operators. We hope that the review, scheduled 18 months from now, will amend the law to address these flaws.”
Paradise Poker’s owner Sportingbet commented on their French website that they would no longer be allowing French players to play or bet at their site stating that it was their legal obligation to suspend activities. This took place on May 13th.
Tags: Betfair, French Authorities, French Legislation, French Market, French Players, french poker market, French Website, Legal Obligation, Loser, Monopoly, Newcomer, Online Bookmakers, Paradise Poker, Poker Gambling, poker market, Poker Sites, Public Affairs, S Market, Sportingbet, Tim Phillips, True Competition, Viable Business
Posted in Poker Industry News | 1 Comment »
Tuesday, April 6th, 2010
Australian chief executive, for BETfair, home of the famous Annette Oberstad, Andrew Twaits, has announced his desire to feature not only online poker and casino games at BETfair, following the completion of the recent Productivity Commission Draft Report, Twaits would like to introduce financial betting to Australians gambling online at BETfair.
Reports are out that the draft report has recommended more liberal online gambling laws, and this has obviously peaked the interest of online gambling operators where Australia is concerned.
“I think Australia is going to be squarely on the strategic map of a lot of those international businesses, so you will probably see more players come into the market,” Mr Twaits said.
Twait’s went on to speculate that Ladbrokes, Will Hill, and Coral are all companies that he expects we will see making their way into the Australian market, ‘whether by acquisition, or starting up themselves’ within the next couple years.
Right now however, Betfair is concentrating on establishing an online casino, and getting live online betting in place, which will allow punters to bet on games during the action. Both online casinos, and ingame betting are currently banned, BETfair hopes that the draft report will change all that!
Read More.
Tags: Betfair, Legal
Posted in Poker Industry News | No Comments »
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