A 59-year-old civil servant from Linkoping in Sweden has become the two millionth customer for online betting firm Betfair after opening an account to place a wager on the outcome of the upcoming American Presidential election.
UK-based Betfair passed the one million mark only 20 months ago and revealed that it now handles an average of five million transactions a day, which is more than all of Europe’s stock exchanges combined. The firm was founded eight years ago and stated that 99.9 percent of its deals are now successfully completed in less than one second.
Swede Bo Ohrman was the man behind the prestigious milestone and opened an account in September to place a small bet on John McCain becoming the 44th President of the United States. He also went on to have a flutter on Wall Street - Up Or Down? and won a VIP weekend in London for himself and a guest.
“You have to back yourself in life and when my brother showed me the site I could see instantly that it gave me a wide range of choices and I could pick my own odds,” said Ohrman.
“It’s certainly more fun betting on Betfair than it is betting on the stock market at the moment.”
Betfair now handles 4.7 billion page impressions every week and revealed that it is due to be presented with its second Queen’s Award for Enterprise on Monday.
“In a year when we won a Queen’s Award for International Trade, it is fitting that Betfair’s two millionth account comes from outside the UK,” said David Yu, Chief Executive Officer for Betfair.
“Our international customers are already an essential part of our business and they are growing larger in number every day. So, congratulations to Mr Ohrman, he’s joined the world’s biggest online betting community.”