The well-reputed sportsbook, Betfair, was awarded the prestigious Queen's Award for the second time. The sportsbook has been in the market for eight years, and had such a huge success and impact on the gambling and betting industry, that it twice has been awarded for its achievements. Betfair received the award first time five years ago for its innovative contribution to the business. This time around the sportsbook was awarded in the category of "International Trade."
Betfair has undergone a huge development since they received the first award. They have expanded their business and stab dramatically in the passing five years, and have developed from a small company with a few hundred employees to a large company of 1200 employees. In 2003 the sportsbook had 100.000 users, whereas now they can boast over 1 million users, whereof 40 % are foreign users. The success story continues. Betfair currently boasts licenses in Australia, Austria, Italy, Malta and naturally England. However, they are always on the outlook for more business and more market share, and are planning to achieve further licenses in the future.
Betfair started as a sportsbook only. Gradually the business became more diverse, and now includes online casino, poker rum and so forth. In 2007 they added another product, namely Tradefair, which offers gambling on the financial markets. The sportsbook process over five million transactions every day, more than the entire European stock market together. There is no doubt that Betfair belongs to the elite in the online gambling and betting industry, and rightly deserves to be awarded for its accomplishments.
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