The merger was completed on 2 February 2016. The transaction was structured as an acquisition of Betfair by Paddy Power and the enlarged entity, named Paddy Power Betfair, is based in Dublin. It was announced in September 2015 that Paddy Power and Betfair had agreed terms for a merger. In August 2014, Net Entertainment NE AB entered into a partnership with Betfair to expand its reach into the market in the United Kingdom. In May 2012, Betfair launched a Sportsbook ( fixed-odds betting) service to compete with traditional bookmakers. In March 2011, the company moved some of its operations to Gibraltar to reduce the amount they paid in tax. Betfair floated on the London Stock Exchange with a stock symbol of BET on 22 October 2010 at £13, valuing the company at £1.4bn ($2.2bn). In November 2009, Betfair announced a deal with the New York Racing Association that allows Betfair's customers to start wagering immediately on Aqueduct's thoroughbreeding races. On 27 January 2009, Betfair announced the purchase of the TVG Network in the United States from Macrovision US$50 million as part of Macrovision's dissolving of TV Guide's assets.

This has now become Timeform Radio, broadcasting horse racing commentary and results. In March 2007, Betfair launched its own Betfair Radio service, available via its website, on the telephone and elsewhere. īetfair was the first betting company to sponsor an English football team, featuring on the kit of Fulham in the 2002–03 season before the Gambling Act 2005 permitted the industry to advertise on television and radio.

In December 2006, Betfair completed the purchase of the horseracing publishing company Timeform (which traded under the name Portway Press Ltd). Softbank purchased 23% of Betfair in early April 2006, valuing the company at £1.5 billion.

The company was founded in June 2000, by Andrew Black and Edward Wray. In February 2016, Betfair merged with Paddy Power to create Flutter Entertainment. Business operations are led from its headquarters in Leeds, alongside satellite offices in Ceuta, Dublin, London, and Malta. Its product offering also includes sports betting, online casino, online poker, and online bingo. It operates the world's largest online betting exchange. Betting exchange, sports betting, online casino, online poker, online bingoīetfair is a British gambling company founded in 2000.

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