Online gambling site Betfair launches IPO

Betfair, the world’s largest online betting website, has launched an initial public offering of shares on the main market of the London Stock Exchange which, at a share price of 13 pounds ($20.41), values the company at 1.39 billion pounds ($2.18 billion). Betfair was initially funded by European venture capital firm Balderton, which sold a large part of its stake to Japanese holding company Softbank, which paid £355 million ($554 million). Softbank currently owns 23% of Betfair while Balderton holds a 7% stake.

Softbank Looks Poised to Lose Gamble on Betfair

It’s happening — the long-awaited IPO of U.K.-based Betfair, that is. The now 10-year-old Internet betting exchange announced on its site today that despite bumpy market conditions, it’s going to list its shares on the London Stock Exchange next month. Founders Ed Wray and Andrew Black — a former JP Morgan trader and a former […]

A Good Hand Suddenly Looks Even Better for Betfair

Betfair, the venture-backed online betting exchange, may soon see its multibillion-dollar business grow exponentially. Yesterday, the House Financial Services Committee approved a bill that would lift the ban on Internet gambling enacted four years ago. Democratic aides told the Wall Street Journal that to become law, it would likely have to be added to a […]

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