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A whole new way of betting!

2017-05-10 11:00:00

Betfair is one of the most established online casinos in the industry today and thanks to their merger with Paddy Power, the company has grown from strength to strength. We took a trip down under and checked out their Australian counterpart to see how the company operates in the land of Oz!

Betfair’s start in Australia

Betfair Australia was created in 2005 when the Government of Tasmania announced a deal to license Betfair in Tasmania. This was very significant as it was only the second license awarded to Betfair outside of England and resulted in Tasmania receiving substantial tax revenues. A year after the company was formed, the first bet was matched on the Australian exchange. Since 2006, over 350 million bets have been placed and millions of calls have been taken. That is not all as hundreds of thousands of unique markets have also been created and settled since the company starting running their betting exchange operation in Australia.

The company became so successful that in 2014 Betfair sold a 50% stake in Betfair Australia to Crown Resorts, who are one of Australia’s biggest gaming and entertainment companies. In 2015, Betfair Australia set a world record for most money traded in a single market when over $184 million was matched in-play during the 2015 Cricket World Cup semi-final between South Africa and New Zealand.