Betfair prepared to advance through harsh economic times

One of the United Kingdom’s best and well known online casinos is Betfair. During the current economic crisis most online casino companies have been apprehensive to expand or make changes to their existing business due to the fear of not returning a profit. Betfair is however the first online casino to decide to make a public offering in these troubling economic times. Betfair is planning a $2.5 billion IPO to raise funds to expand. Betfair wants to consolidate all its gaming operations, and by doing so they will be more than prepared to enter the United States market once US laws are changed with regards to online gambling.

Negotiations are already well underway with Betfair and their bankers in order to secure financial representation. Betfair is laying the foundations now so that it well prepared once the lucrative US market opens their doors.

Betfair is just one of the many online casinos eagerly awaiting the US change to occur. Betfair has a large variety of online casino games, poker, sports betting, and financial markets betting. It is believed that Goldman Sachs, Rothschild, and Morgan Stanley will all be competing to gain a lucrative part of Betfair for the capital the company needs to expand its operation.

Apart from Betfair several other online casinos are also seeking funding and preparing to apply for US licenses as soon as the laws are changed. It will however be a long process even if the bill is passed. For UK players this will mean increased competition at the online casinos since US and UK players will be on the same sites. This could be a great thing for the progressive pots.