Betfair celebrates three millionth customer

In the last five years total revenues at Betfair have nearly tripled, rising from us$ 163.2 million in 2005 to us$ 462.1 million for the year ended April 30th 2009, whilst adjusted EBITDA has more than doubled from us$ 45.7 million to us$ 109.8 million in the same period.

The Betfair platform now processes more than six million transactions per day and handled more than 500 million individual bets in the past year on the betting exchange alone.

“Reaching our three millionth customer is a significant achievement of which I am extremely proud,” said David Yu, Betfair’s CEO. “Our continued growth is a testament to Betfair appealing to a wider range of people than ever before.

“The fact that we have passed this milestone in the year we celebrate our tenth birthday is symbolic of how far we have come in that time; from a company seeking to break into an industry with new cutting-edge technology, to one which is truly global in size and scale. With what should be the biggest betting event of all time just around the corner in the World Cup we will be looking to build on this achievement as we power our way to four million.”

Betfair was officially launched in June 2000 by parent company The Sporting Exchange and developed by founders Andrew Black and Edward Wray.