Betfair Downsizes, Focuses on Regulated Markets

Poker Rooms | estimated reading time
2013. February 18.
Online betting exchange Betfair, the Poker division of which recently joined the iPoker network, now seeks to cut annual costs. This can result in the letting go of about 650 employees worldwide, as well as in a more focused approach towards the regulated markets.
Online gambling provider Betfair, with Betfair Poker recently moving to the iPoker network, the number four operator on the market, boasts 4 million customers worldwide and a weekly income of £50 million and employs 1,200 people in the UK alone, with 2,300 more in the rest of the world. However, Betfair CEO Breon Corcoran announced the reduction of the betting exchange’s expenses by £20 million annually, which can result in dismissing 650 employees in total.

Betfair

The downsizing primarily affects the company’s grey market presence, most notably in Cyprus, Greece and Germany, in addition to Russia, the Ukraine, Norway and Canada. Betfair Malta managing director Steve Ives commented that the spreading of the dot country registration “will inevitably put pressure on groups to consider where they employ staff, which may explain some downsizing.”

Following Betfair’s annual results falling short of expectations in December, 2012, CEO Corcoran announced his plans to “reinvigorate the business by focusing on regulated jurisdictions” and to “invest in product and brand to enhance our competitive position and drive growth.” Partly due to the announcements as well as to the fact that Betfair continues to grow in major markets like Australia, the company’s shares are once again showing growth in value.

Source: Online-Casinos.com

Related articles

0 comments

Our partners
Unibet
  • High rakeback
  • Beginner friendly
  • High number of casino players
Go to the room
GGPoker
  • Excellent traffic
  • Soft fields
  • Highest tournament guarantees
  • Innovative games
  • Generous bonuses
Go to the room
RedStar Poker
  • Highly trusted operator with outstanding support
  • Part of the third largest poker network
  • High overall rakeback
  • HUD is available
Go to the room
Natural8
  • Excellent traffic
  • Soft fields
  • Highest tournament guarantees
  • Innovative games
  • Generous bonuses
Go to the room
partypoker
  • Great tournament selection
  • Attractive VIP promotions
  • User-friendly software
  • Reliable provider
Go to the room
PokerKing
  • American players
  • HUD available
  • High central refund
  • New software to meet all your needs
  • More advanced game types
Go to the room
JackPoker
  • Extreme high Welcome bonus package
  • Many recreational players
Go to the room
888poker
  • Many casual players
  • Great promotion for cash game players
  • Exciting game variants: SNAP and BLAST
Go to the room
BetOnline
  • Beginner friendly
  • Wide selection of games
  • US players
  • Wide range of payment options
Go to the room
bwin Poker
  • Great tournament selection
  • Attractive VIP promotions
  • User-friendly software
  • Reliable provider
Go to the room
TigerGaming
  • Soft fields
  • US players
  • Soft fields
  • Beginner friendly
Go to the room
SportsBetting
  • Crypto Deposit & Withdrawals
  • US players
  • Wide selection of games
  • Beginner friendly
Go to the room
Betsson Poker
  • HUD is available
  • Good fields
  • Part of the third largest poker network
Go to the room
Bet365 Poker
  • Premium tables
  • Many sports betting players
  • HUD available
Go to the room
Segregated Markets
  • Privat deal: Only for Rakerace.com players
  • Untouched Fish Ponds on the Segregated Markets
Go to the room
Betkings
  • Rakeback: Up to 60%
  • Generous Welcome Bonus
  • Quick payments
Go to the room
Betfair
  • Pleasant field
  • Significant traffic
  • High flat central rakeback
  • Monthly races with total prize pool of €70 000
  • HUD available
Go to the room
PokerStars
  • Wide selection of games
  • High-guaranteed prize tournaments
  • Great software
  • HUD option
Go to the room