Betfair was founded in June 2000, by Andrew Black and Edward Wray. It offers a Sportsbook (fixed odds betting), online casino, online poker and online bingo. The company's headquarters are located in Hammersmith in Greater London, England, and Clonskeagh, Dublin, Ireland. Betfair charges a commission on all winning bets, the market base rate is set at between 5 and 7 percent of the net winnings for most markets, depending on the country the player resides in, although according to how much a client wagers on the site, it is possible to reduce the base rate by as much as 60%. Betfair owns subsidiaries in the United States. The main company is TVG Network, which is dedicated to horse racing, broadcasting live races as well as race analysis, interviews, handicapping tips and features. Betfair also has a subsidiary called BetfairCasino.com which is a New Jersey licensed provider of online gaming products.
