Betfair is the world's leading betting exchange, a concept it pioneered.

All bets on Betfair are placed there by users who either want to bet for a selection or outcome in the normal way (back), or bet against a selection or outcome (lay). Bets are matched between people with opposing views.

In addition to the exchange Betfair has an established games portfolio, including Betfair Poker, Betfair Casino and a number of exchange-enabled games.

Betfair is a licensed bookmaker in the UK. It also has licences in Australia, Malta, Austria and Germany.

Edward Wray (Co-Founder):
Edward Wray is non-executive Chairman, a position he took up in October 2006 having led the Australian joint venture since 2004. He is the co-founder of Betfair and was its Chief Executive for the first three years. From 1991 to 1999 Edward worked for JP Morgan in the bank's Debt Capital Markets division.