Betfair is the United Kingdom’s largest online betting company and the largest internet betting exchange in the world. The company also runs several online casinos. Betfair operates in many parts of the world and holds licences from Gibraltar, Malta, Spain, Italy America and Australia. Its Australian / Asian business was a joint venture with James Packer’s Crown Resorts group. When Crown and Betfair joined forces in 2004, Crown Resorts owned 50 per cent of the Betfair operation in Australia and now it has taken over the whole Betfair operation there.
Betfair losses in Australia
James Packer is the chairman of Crown Resorts which is one of Australia’s leading casino resort and entertainment groups. The company also owns integrated casino resorts in Macau and the Philippines. Crown Resorts has paid 10 million dollars to buy the other 50 percent of Betfair Australasia. Betfair will, however, still provide the Australian company with technology and other services. Betfair has almost consistently made losses on its Australian operations and these amount to just over 43 million dollars since it launched its business in the country. Even though the company’s revenue rose last year compared to income in 2012, it wasn’t enough for Betfair to carry on in Australia, so selling appears to be to its advantage. It is believed that James Packer may change the way Betfair operates and hopefully reverse the company’s annual losses. For the first half of this year, Betfair lost Crown Resorts close to 2 million dollars.
Betfair casino with live dealers
Betfair is best known as a sports betting exchange but it operates online casinos with all the traditional casino games including roulette, baccarat, blackjack. It also offers video poker, poker and bingo among other games. Players in several jurisdictions can join live games of baccarat, blackjack and live roulette with real dealers. There is a live games welcome bonus of 100 percent up to £200 for new players on their first deposit. The Betfair casino also offers other welcome bonuses along with over 500 games including slot machines.