Betfair Fighting Recession and Winning

While the current economic slump is giving many industries and companies a hiding, one company that is not only keeping its head above water in these tough economic times, but is thriving, is leading UK online betting exchange Betfair, which has reported a 27 percent hike in its annual revenues.

As traditional UK high street betting shops continue to feel the pinch, Betfair has been reaping the benefits as increasingly sports betting fans are foregoing physical shops for the ease, security and privacy of online betting. So much so that the gambling firm saw it revenues jump by almost 30 percent up to £303m.

The results, which have no doubt left Betfair's rivals quivering with envy, reflect the company's continued growth and success which started three years ago. Since then the popular online betting exchange has more than doubled its revenues and, judging by the latest figures, is not about to slow down anytime soon.

In fact, while many large online gambling firms have been struggling just to cling on to their existing market share in the current financial climate, the pioneering leadership of Betfair has actively been thrusting forward with international expansion plans, regardless of the crises, with surprisingly impressive results.

While there is little doubt that the top brass of Betfair and all the leading other online gambling firms are hoping that the economic downswing will begin to slow down and recover, at least Betfair's leadership can justify popping the champagne in celebration of a job well done, and a rosy online gambling future.