Betfair Worth Big Bucks
August 28, 2009
The online gambling company Betfair is allegedly worth some big bucks depending on who you ask. The company is talking about their Initial Public Offering – or IPO – and they are supposedly worth $2.5 billion. That’s a lot of gambling!
The online gambling company is looking at possibly going through with the IPO as it is looking for a platform for consolidation. This is a real possibility if US restrictions are lifted. The online gambling company’s founders are meeting with banking advisors over the next few weeks to discuss the viability of an IPO and how it might work to everyone’s advantage. This would be the UK’s first major listing since the economy went belly up – and many investors are excited by the prospects.
This would give the company much needed capital and enable them to lead into consolidation in the gambling sector. With the US looking to remove the UIGEA ban that is currently in effect, this could end up being very beneficial to the online gambling company and anyone who was involved with them. The online gambling company is already different from the rest of those out there in that it does not take your money.
The online gambling company matches people up against each other in relation to sporting events – as opposed to them placing the bets with the company itself. The online gambling site then gets a portion of the proceeds from the bet – allowing them to continue to operate and move the bets through.
