UK betting exchange Betfair has won a Queen's Award for Enterprise for the second time in its eight-year history.
This year Betfair takes the prize in the International Trade category. Five years ago its award was in the Innovation category. Winners of the Queen’s Award are selected on the recommendation of the Prime Minister and an independent advisory committee.
Since 2003, Betfair has grown from a network of 100,000 users, with only 8 percent from outside the UK and Ireland, to a network of more than a million users, with over 40 percent from outside the UK and Ireland.
“Upon winning our first award in 2003, our chairman and co-founder Edward Wray said that the company was looking forward to taking this great British innovation onto the global stage," said Betfair CEO David Yu. "Five years on, this award for International Trade is recognition of the strides we’ve made towards achieving that aim.”
“Betfair continues to pride itself on its innovation, integrity, fairness to customers and a determination to work in partnership with international governments and regulators. Those qualities are being recognised throughout the world and we now have operational bases in Australia and Malta to support over one million registered customers.”