Betfair and Paddy Power to merge

Betfair and Paddy Power to merge

 

There is a major shake up in the online gaming world currently within the UK, with mergers becoming common place, as the large brands attempt to keep their stranglehold upon the market.

A couple of years back there was the Ladbrokes/Coral merger, which has now created the biggest bookmaker in the UK. We also have the 888/bwin up coming merger drama while Sportingbet do their utmost to get involved.

But today, it has been announced that Paddy Power and Betfair are merging!

Paddy Power will take control of 52% of Betfair, implementing their own management team at the online betting exchange.

Paddy Power will continue their role as high street and online booky driving their effective yet often controversial campaigns.

Betfair was the world’s first online betting exchange, allowing players to bet against each other, select their own odds and in general, get up to 20% better prices than all other betting sites and shops in the world. They have since grown to include extra products such as Casino and Arcade, multiple betting as well as a traditional bookmaking product for those who can’t (or don’t want to) get their heads around the exchange.

As yet, we have no idea what this merger will mean in terms of changes, either to the exchange, to Paddy Power’s website or to their high street stores. Betfair and Paddy Power released a statement this morning;

“The combination has compelling strategic logic and represents an attractive opportunity for both companies to enhance their position in online betting and gaming and to deliver synergies, customer benefits and shareholder value.”