Sport is made for betting

One of Betfair's strongest allies in the press, Greg Wood of the Guardian isn't getting caught up in all the hype over the Betfair float. What prospects are left for growth? If the economy is flat, then why are they going ahead now? Is liquidity flat-lining? Betfair flotation may give potential investors that sinking feeling The men who founded Betfair are gamblers at heart, and reports over the weekend that they intend to press ahead with a float suggest that their appetite for a punt has not diminished. An oft-quoted estimate of the exchange's value is £1.5bn. These are uncertain times, but if it raises much less than that, it will be seen as a gamble gone astray. It is entirely possible that Andrew Black and Ed Wray, who own 25% of the business, are so confident about Betfair's long-term prospects that the immediate possibility of a double-dip recession is of little concern. Alternatively, it is conceivable that Betfair, in their opinion, is now as valuable ...