Net Entertainment signs agreement with Betfair
Two pioneers in the online gambling industry, leading software developer Net Entertainment and one of world’s largest international online sports betting provider Betfair, have signed an agreement. This agreement will further strengthen Netent’s exposure on the UK market but also in other parts of Europe.Betfair
In 1999, professional gambler Andrew ‘Bert’ Black and City professional Edward Wray joined forces, resulting in the launch of Betfair in june 2000. It’s by now Betfair has become the largest online betting exchange in the world as well as the largest .com IPO ever. Betfair has helped to revolutionise online betting, turning it into a sustainable industry. The company owns licenses in Gibraltar, Malta, Spain, Italy, the United States and Australia. The online betting company claims to have over 4 million registered customers, of which 950.000 can be called active, and an impressive turnover of £50 million a week while Betfair’s revenues amounted to £387m in 2013.
Established in 2000, Betfair has by now a long history and an impressive reputation within the iGaming industry. Betfair pioneered the betting exchange concept, allowing customers to bet at odds set by themselves or by other customers.
It all started with the 2000 Epsom Oaks which included small stakes at the time. Nonetheless several respected media sources predicted the start of a betting revolution and they were more than right. It was in this same year Betfair placed its first advert, in October 2000, the start of the success Betfair is still facing day in day out.
No doubt Betfair has been a pioneer in online betting, inventing the concept of an “in-play” soccer market in 2001. This was followed by a merger with fellow exchange Flutter.com in December 2001. By 2004 Betfair showed revenues of over £50 million while established as the pre-eminent Exchange product in the market.
In 2013, Betfair launched a fixed odds Sportsbook to offer greater choice to the recreational end of the market.
Betfair is the pioneer in the field of betting exchanges, but is by now offering an all-round gambling platform. After the betting exchange kept on growing in the UK as well as Europe throughout the past two decades, several new products were launched on the way, including poker, casino, Live Casino and a mobile casino platform.
“We are very excited that Betfair has selected us as a partner and I wish them a warm welcome as a customer. This agreement will further strengthen NetEnt’s exposure on the UK market but also in other parts of Europe.” comments Björn Krantz, Managing Director in Net Entertainment Malta Ltd.
Recently signed agreements/partnerships
Earlier this year Bet365 launched the Netent games which involves a contract signed in 2013. Also a partnership agreement was signed with platform supplier GameAccount Network, a nice opening to the Italian market.
In April Netent announced that an agreement was signed with The Rational Group, one of the world’s leading online gaming companies. This agreement involves Full Tilt Poker too, which means Netent will provide Full Tilt Poker with a wide range of Net Entertainment’s best in breed mobile and desktop casino games.
In June Net Entertainment signs its very first land based gaming machine partnership with UK bookmaker William Hill.
In July another impressive agreement was signed with bwin.party, another big fish in the iGaming industry and this week another agreement was signed with Betfair which means that their players can start looking forward to popular Netent games like Gonzo’s Quest, Starburst, Aliens and many more.