|London (12/05/04) Betfair, the world’s leading betting exchange, today announced it had appointed Jacob Weinreich as a Nordic markets consultant to lead the expansion of its business in the region. The new post comes as Betfair continues to expand its international business and focuses on potentially lucrative new markets. |
Jacob comes to Betfair with a wealth of industry experience and local knowledge, having worked as Business Director for Bet24.com and as Marketing Manager for Danish wagering company, Expekt.
Over the next 12 months Jacob, who will be based in London, will provide business development advice to the company as well as recommending product development opportunities and coordinating Betfair’s media and public relations presence in the Nordic region.
Weinreich said, “The Nordic area represents a huge opportunity for the business. Betfair has recently experienced a significant increase in activity from punters in the Nordic betting markets, who are attracted by the greater choice and control which Betfair offers the betting consumer in a market dominated by existing state monopolies.
“We believe that Betfair has the potential to generate tremendous interest from Nordic punters in both the local and international markets. I am looking forward to working with Betfair to explore the opportunities for growth in the region and providing the best possible betting product to Nordic punters.”
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Notes to Editors:
1. Betfair has 250,000 registered customers from 85 different countries and has ten different language sites including Danish, Swedish, Norwegian and Finnish.
2. Betfair (www.betfair.com) was the first person-to-person betting exchange. A betting exchange allows punters to bet on prices set by punters themselves rather than by a bookmaker, which, by one independent study, results in Betfair’s odds being 20% better than bookmakers’ starting prices.
3. Betfair was launched in June 2000 and is already the UK’s No 1 online betting company. At peak times the exchange – based on the NYSE - matches up to 12,000 bets a minute.
4. The company’s co-founders – former professional gambler Andrew Black and former JPMorgan vice-president Edward Wray – were jointly voted Ernst & Young Emerging Entrepreneur of the Year 2002. In April 2003 Betfair won a Queen’s Award for Enterprise in the Innovation category.
5. In 2002/3 Betfair was the shirt sponsor of the Premiership’s Fulham FC.
6. Strategic investors in Betfair include Benchmark Capital, UBS Capital, JPMorgan Chase.
For further information please ring Jacob Weinreich on +44 (0)20 8834 8289 or +45 6130 6461 or Hugh Taggart on +44 (0)20 8834 8234.