Betfair was launched ten years ago as a solely internet betting firm revolutionising the online sportsbook industry. They offered a betting exchange which allows bettors to bet against each other with Betfair taking a small percentage of the winner’s profit. They have since branched out into casino and poker providing a full online gambling service to millions around the world.

Betfair as yet is unable to take American gamblers or poker players but with legislative changes potentially drawing near in the US this would be a significant boom for Betfair. The valuation of £1.5bn would see Betfair valued higher than traditional gambling stalwarts like Ladbrokes and William Hill.

Wray and Black will only be selling one tenth of their 22.5% stake in the business and if they reach the expected value they would each net a jackpot windfall of £17m which is some return on investment from their original £60,000.

Unsurprisingly Betfair are being backed by Goldman Sachs and Morgan Stanley in their public listing with the two banks providing expert assistance – at great cost to Betfair.

Betfair Casino is one of the most forward thinking casinos with great progressive jackpots and loads of casino games.

The first is specifically aimed at those who are considered high rollers so the minimum wagering amount here is 1.00. FanCashtic consists of 4 reels and 10 pay lines and contains some very interesting and unique features we rarely see in slots games. For instance, players have the opportunity to win extra cash via the Cash 1 and Cash 2 symbols. When these symbols appear on the reels after a spin, one of the ten spots located to the right of the screen will be colored.

The aim is simple, the higher the player gets the more they will win. What also makes the game interesting is winning combinations do not have to be horizontal as the pay line is bi-directional.

The other two new games are just as exciting even though they don’t have the ten spot feature. They are named Lady’s Charms and Vivia Venezia. Both have a seductive and sophisticated appearance and contain 5 reels with 20 pay lines. Extras such as bonus rounds and free spins can increase your winnings.

The wagering limits are lower for these games so all customers can play here. They range from 0.10 to 2.00 on each pay line that is selected.

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.

Betfair have initiated a multi million Euro legal proceeding against the government and have already submitted a formal complaint to the European Commission against them.

They are extremely angry at the Dutch government because their MD Mark Davies stated ‘It is a desperate move by the Dutch government and is merely to protect their own gambling monopoly. It simply breaks the rules of the EU regarding the right of free movement, we are going to fight this as it should not be allowed to continue further’.

The online gambling company want the letter sent to the banks early in February to be withdrawn immediately.

Further legal action will be taken by Betfair as the Dutch Government have initiated a boycott against all Betfair websites, therefore could potentially see the company lose millions.

Betfair fear that the longer this continues the higher the risk that other European countries such as Sweden which makes up 2.3% of their consumer base, Germany who make up 6.6% and Austria where 1.6% of their customers are based, could all follow suit in the Betfair ban.