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BetFair expands with Yahoo deal

UK online betting exchange Betfair has signed a deal with search engine Yahoo, extending its betting platform to a mass market audience.

Yahoo Betting, to be launched in March, will be built and managed by Betfair specifically for the Yahoo UK & Ireland customer base.

Betfair's pioneering concept enables punters to bet at odds set by other punters rather than the bookmaker.

Matching millions of bets a day, it has more than 300,000 registered customers.

Bets are matched between people with opposing views and Betfair makes its money by charging customers a commission on their winnings.

Better odds?

Because ordinary people are offering the odds, Betfair claims you can get prices that are, on average, 20% better than with a traditional bookmaker.

Set up in 2000, its website's technological achievements were recognised in 2003 when it won a Queen's Award for Enterprise in the Innovation category.

Further recognition came in 2004 when Betfair own three awards, including CBI's Growing Business of the Year award.

Based in Hammersmith, West London, the company now employs 450 staff and is the biggest betting exchange in the UK.

source: betfair.com

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