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Betfair is a British gambling company founded in 2000. It operates the world's largest online betting exchange. Its product offering also includes sports betting, online casino, online poker, and online bingo. Business operations are led from its headquarters in London, alongside satellite offices in Ceuta, Dublin, Leeds, and Malta.
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Andrew Black. Andrew Black (born 13 May 1963) is a British entrepreneur who, together with Edward Wray, a gambling entrepreneur, founded Betfair, the world's first and largest bet exchange. He is now a noted angel investor in technology businesses in the UK and further afield, and is a keen race horse owner and professional bridge player.
By "adjusting the odds" in their favour (paying out amounts using odds that are less than what they determined to be the true odds) or by having a point spread, bookmakers aim to guarantee a profit by achieving a 'balanced book', either by getting an equal number of bets for each possible outcome or (when they are offering odds) by getting the amounts wagered on each outcome to reflect the odds.
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