ounded by Edward Wray and Andrew Black, the Betfair exchange - launched on June 9, 2000 - allows punters to choose their own odds and bet against each other for bigger wins.
Today, the company has over three million registered customers and handles more than six million transactions a day, factors which have contributed to Betfair becoming the leading online sports betting company in the world.
Betfair CEO David Yu said: "Thanks to the vision of our founders and the hard work of our employees, the past ten years have been thrilling for everyone at Betfair. We celebrate our tenth birthday proud of what the company has achieved and excited about what the next ten years will bring."
From an average headcount of seven employees in 2000, the company now has more than 2,300 staff worldwide. The 2009 operating profit was of us$ 50,103,000 was double that of 2005 while revenues continue to rise.
The five biggest shocks in Betfair's ten year history: July 2003 Ben Curtis won The Open, beating Tiger Woods despite four bogeys in his last seven holes. At one stage his odds of winning the tournament were 1000.0.
In October 2006, after recording a world record 434-4 off their 50 overs, Australia were 1.01 (win us$ 1,45 for every us$ 145 bet) to beat South Africa, but they went on to lose after the South Africans reached 438-9 with just one ball to spare. In October 2008, Leading 3-1 at home, Arsenal were 1.01 to beat Spurs before the visitors fought back to draw 4-4.
In October 2008, Villareal vs Atletico Madrid served up a high scoring treat finishing 4-4, with Villareal trading at 1.01 . In June 2009, in the final of the European under-21 Championships, England led Sweden 3-0 at half-time and were subsequently backed at 1.01. However, Sweden launched a stunning second half comeback and the game finished 3-3 after 90 minutes.