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Andrew Black – the mastermind behind Betfair
This is not just another success story for online gambling – it is the story of the man who created a different bookmaker, different from other companies on the market! Andrew Black has laid the foundations for the best sports betting market around the world – Betfair, a company that has learned to be a leader since its founding.
Andrew Black’s early years
Born in 1963, Andrew Black graduated from King’s College School in London and decided to continue his studies at Exeter University, and his major was computer science. However, his university training was not finished as Andrew was passionate about betting and spent most of his time at local betting points rather than listening to his lecturers.
One interesting fact is that Mr Black’s father was an outspoken opponent of gambling and participated in many campaigns against this activity and the laws that allowed it. If Andrew had followed his father’s views, he might not have been able to deliver one of the best business ideas.
Before the idea was born
Andrew was forced to work for years as a regular employee for various companies.
In one of them, the US company Track Data, he was employed in customer service and development.
However, this job did not bring him the desired revenue and after a while he turned to betting again. The sport he was betting on was horse racing, and after his colleagues saw that Andrew was a pretty good expert, they even began to follow his predictions. It is known that in 1992 Andrew Black won £ 25,000 with a stake of just £ 20 after correctly guessing the winners of 2 of the big horse races in the UK.
These profits allowed him to fulfill one of his dreams – to buy a racing horse! After Andrew’s prognosis continued to be quite successful, he chose to leave his permanent job, earning less than £ 30,000 a year.
Black continued to develop his skills as a bettor but at one point the losses began to spin out of control and he had to find permanent employment again. He started out as a trader at Boxall but stayed there for only a year. It was also one of the turning points in Andrew’s life, because after that moment, he began his own career.
The idea behind Betfair
Andrew Black’s life was full of ups and downs. After many career changes, after the successes and failures of being a professional bettor, Andrew Black took action and set up his own software company, which won partnerships with many other organizations.
By experimenting with different betting software, Andrew began to refine the idea of a bookmaking business. At some point he decided to take the risk and put all his savings into his idea, the so-called Sports Exchange. However, his £ 50,000 could not be enough, so Black sought out other investors.
And he found one in Edward Ray – brother of Andrew’s best friend, Jeremy. Edward was an investment banker and could definitely help develop the idea. After creating their business idea project, they sought new funds from venture capital funds. Also the two of them had some wealthy relatives and friends, from whom they raised quite a large sum, which with their funds totaled 1 million pounds! This amount was enough to allow the Betfair project to see the light of day in 2000!
What exactly is the sports exchange?
At that time, people had the opportunity to bet on the various sports events and markets that certain bookmakers offered them.
The idea of Andrew Black and Edward Ray was to create a different betting model. The Sports Exchange is an online platform that allows different people to offer markets and odds. That way, other people can bet their money on these odds and markets.
To a large extent, the model was borrowed from the financial exchanges, but implemented in sports betting. This model offered people a new way of betting that, in many cases, allowed them to bet better and get higher odds than the various bookmaking companies offered them.
Betfair’s profit came from the commissions it collected on every settled bet. This business model works the same way today, with Betfair continuing to be the leader and offering the best Sports Betting Exchange.
A very important strategic step
At the same time that Betfair was created, another company, Flutter, appeared on the market, which uses a similar method of taking bets. A very successful move for Andrew Black and his colleague, Ed Ray, was to acquire Flutter in 2001, which gave them great power over the Sports Exchanges with 90% market share!
Andrew Black’s life after the creation of Betfair
Only 2 years after the company was created, the two founders Andrew Black and Edward Ray received the Young Entrepreneur of the Year title.
Over time, the company began to offer casino-type bets as well as bets on multiple sports and, in the traditional way, with fixed odds.
In 2010, the company was listed on the London Stock Exchange, with a share price of £ 13. This means that its total value is £ 1.4 billion! Andrew himself owned 15% of the stock, providing him nearly £ 200 million.
And when Betfair was excluded from the stock market, after its acquisition by Paddy Power in 2016, one share of the company was worth £ 44! Andrew Black created but also helped tremendously in the development of Betfair over the years. Out of this sphere, he maintained his interest in horse racing.
Black is investing in various technology areas in the UK and is also emerging as a professional bridge player. Created by him, Betfair is currently one of the world’s leading bookmaking companies and the sole leader in Sports Exchange betting. The company continues to grow and, after being acquired by its new owners, continues to innovate in the field of sports betting. It is one of the founding bookmakers of the Cash Out option and also implements features like ACCA EDGE and Price Rush!
Artificial Intelligence
Pay4Fun integrates payments into Betconstruct AI ecosystem for Brazil
Integration adds Pix, account validation, fraud controls and compliance tools for operators targeting Brazil’s regulated betting market.
Pay4Fun has integrated its financial infrastructure with Betconstruct AI’s platform in Brazil, giving operators connected to the ecosystem access to payments and compliance tooling built for the country’s regulated betting market.
Pay4Fun said Betconstruct AI clients will be able to use Pix payment processing, account ownership validation, transaction monitoring, fraud prevention, and compliance tools aligned with Brazil’s regulatory requirements.
According to Leonardo Baptista, CEO and Co-Founder of Pay4Fun, regulation is pushing operators to look beyond basic processing. “The Brazilian market has entered a new phase of maturity. Today, operators require solutions that go far beyond payment processing. They need partners capable of delivering security, compliance, and operational efficiency in an increasingly demanding regulatory environment. By integrating our solutions with Betconstruct AI, we are expanding access to a financial infrastructure specifically designed to meet the needs of the Brazilian market.”
Betconstruct AI said the integration strengthens its Brazil-facing offer for clients operating in the country or planning entry. “Pay4Fun was selected based on the expertise and industry knowledge the company has built within the Brazilian betting market. As the industry continues to evolve, the importance of working with specialized partners capable of delivering security, operational efficiency, and regulatory compliance continues to grow,” said Beatriz Lopes, the Brazil Regional Director.
Pay4Fun said it was the first payment institution serving the betting industry to receive authorization from the Central Bank of Brazil, and that the company’s infrastructure combines monitoring, identity verification, fraud and anti-money laundering controls, and compliance processes tailored to regulated iGaming operations.
The post Pay4Fun integrates payments into Betconstruct AI ecosystem for Brazil appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Artificial Intelligence
BetConstruct AI hosts Harmony Predictstreet event in Yerevan
Eighth Harmony edition runs July 8–9 and spotlights ADI Predictstreet collaboration ahead of the FIFA World Cup Final.
BetConstruct AI held its Harmony Predictstreet event on July 8–9, 2026 in Yerevan, Armenia, bringing together more than 300 guests for two days of networking and company updates.
The eighth edition introduced the “Predictstreet” branding to reflect BetConstruct AI’s strategic collaboration with ADI Predictstreet, described in the release as “FIFA’s Official Prediction Market Partner.” BetConstruct AI said the partnership includes integrating ADI Predictstreet’s prediction market solutions and official match streaming rights into its platform, timed for “the most important commercial moment in the four-year sports calendar, with the FIFA World Cup Final just days away.”
Day 1 was hosted at Garni Temple for an evening reception, including a live performance by the Armenian National Philharmonic Orchestra, a mapping show and music from DJ Leblanc.
Day 2 began at SoftConstruct headquarters with an office tour and networking session, before moving to Dvin Music Hall for the Harmony Predictstreet Gala Dinner. BetConstruct AI said founders and executive leadership presented updates on Eventbook, the ADI Predictstreet partnership, Betting Mate, The Last Battle Universe, Betbuilder & Powerbank, Softgates, and “the latest updates driving Vivaro.me and Open Stake forward.”
The company positioned the event as a forum for discussing future direction across its ecosystem, and confirmed plans to continue the series with a ninth edition.
The post BetConstruct AI hosts Harmony Predictstreet event in Yerevan appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
ESPN Networks
THE 57th ANNUAL WORLD SERIES OF POKER® CONCLUDES AN EXTRAORDINARY SUMMER OF GLOBAL ENGAGEMENT AND ELITE COMPETITION
This summer’s event also saw huge growth in reach and engagement across WSOP’s social media channels, with over 378 million views
With 51 days of thrilling, high-stakes competition in the bag, the 57th annual World Series of Poker (WSOP®) at Paris Las Vegas and Horseshoe Las Vegas officially concluded its summer tournament schedule on July 15, 2026. Featuring a massive slate of 100 live gold bracelet events, this year’s festival once again demonstrated the unparalleled scale, passion, and global community of live tournament poker.
“The 57th annual World Series of Poker proved that Las Vegas remains the undisputed epicenter of the poker universe,” said Ty Stewart, Chief Executive Officer of the WSOP. “The energy inside Horseshoe and Paris Las Vegas was nothing short of electric. What is truly remarkable this year is how our community expanded far beyond the physical walls of the casino floor. Through our newly redesigned final table arena, extensive linear broadcast schedule, and unprecedented digital engagement, we brought the drama, excitement, and glory of winning a WSOP gold bracelet to millions of new fans worldwide. We are incredibly proud of this summer’s success and cannot wait to witness the Final Nine battle for the World Championship on ESPN next month.”
Redefining the Live Experience on Poker’s Biggest Stage
Throughout the summer, the Las Vegas Strip was the focal point of the poker world as players from around the globe competed for poker’s ultimate prize: a WSOP gold bracelet and a place in poker history.
Key milestones from the summer tournament action include:
- Colossal Main Event Field: The legendary $10,000 No-Limit Hold’em World Championship (the ‘Main Event’) attracted a massive field of 9,208 entrants, creating a colossal prize pool and proving the enduring allure of the world’s premier freezeout tournament
- The New Final Table Arena: WSOP officially unveiled a completely redesigned, state-of-the-art Final Table Arena and broadcast environment. The new stage integrates advanced lighting and large-scale digital displays to elevate the presentation of poker’s most prestigious final tables
- Historic Broadcast Expansion: Live coverage of the Main Event returned to ESPN alongside a new multi-year broadcast agreement with Warner Bros. Discovery to distribute coverage across HBO Max, Eurosport, and TNT Sports globally
- The “Final Nine”: The final nine players survived a grueling field to punch their ticket to the historic Main Event Final Table. They will return to Las Vegas from August 3 to 5, 2026, to play down to a champion live on ESPN
- Summer of Superstars: This year’s event saw an unprecedented number of bracelets won by poker luminaries with impressive records in the game’s history books; Daniel Negreanu won his eight WSOP bracelet by taking down Event #76 $100,000 High Roller Pot-Limit Omaha for over $2.2M, while reigning WSOP Main Event champion Michael ‘The Grinder’ Mizrachi further burnished his reputation by winning Event #70 $10,000 Pot-Limit Omaha Championship, claiming his ninth WSOP bracelet and a $1.35M prize. The poker world’s undisputed power couple Kristen and Alex Foxen also made history by each claiming a WSOP bracelet in 2026, taking down Event #19 $25,000 High Roller No-Limit Hold’em and Event #44 $10,000 Super Turbo Bounty No-Limit Hold’em, respectively
- Seamless Player Experience: The WSOP Live mobile app continued to enhance the playing experience, streamlining registration, virtually eliminating cage lines, and providing real-time seat alerts to thousands of players throughout the summer
WSOP 2026 By The Numbers
- 251,899 entries – a new record for the total number of entries in a single WSOP series
- $469,975,059 – total 2026 WSOP gold events prize amount
- 35,157 places paid
- 22,811 entries to Event #63 $1,000 Mystery Millions No-Limit Hold’em – the biggest field in the 2026 series, the largest Mystery Millions event, and the largest $1,000 event in live tournament poker history
- 1,368 entries to Event #68 $1,000 Ladies No-Limit Hold’em Championship – the largest Ladies event in live tournament poker history
- 11,933 entries to Event #18 $1,500 Monster Stack No-Limit Hold’em – the largest Monster Stack event in live tournament poker history
- 4,764 entries to Event #87 $1,000 Mystery Bounty Pot-Limit Omaha – the largest Pot-Limit Omaha event in live tournament poker history
- 12,560 entries to Event #72 $1,000 Mini Main Event – the largest Mini Main event in live tournament poker history
- 41 – The number of $1M+ prizes won across the 2026 series
- 57 events exceeded $2+ million prize pools – equalling last year’s record
- 8 events exceeded $10+ million prize pools
- 149 – number of countries represented in the WSOP 2026 playing field
- Top Ten Countries by WSOP 2026 participants: 1 – United States, 2 – Canada, 3 – France, 4 – Great Britain, 5 – Japan, 6 – China, 7 – Israel, 8 – Germany, 9 – Brazil, 10 – Mexico
- 111 – number of countries represented in the WSOP Main Event 2026 playing field, a new record
- Oldest Player – Merle Vangieson, born June 28, 1931
- Youngest Player – Easton Jorgensen, born July 13, 2005
Worldwide Broadcasts Drive Growth Of Game
With thrilling WSOP action broadcast exclusively on ESPN Networks, Eurosport, TNT Sports, Abema Japan, Groupe M6 in France, and other media partners, poker fans had more opportunities than ever to follow their heroes, new and old, at the felt in 2026.
Comprehensive linear and digital coverage, available in more than 300 million homes across 70+ countries, ensured that countless big moments – from calculated bluffs to cunning value bets – were analyzed and enjoyed by enthusiasts on every continent.
Edited WSOP broadcasts will air from July 21, allowing a worldwide audience to catch up on all the summer’s action.
Explosive Digital Reach: WSOP’s Social Media Footprint
A highlight of the 57th annual WSOP was its unprecedented digital growth. While fans packed the physical tournament rooms, millions more watched the action unfold online. Across all major platforms, WSOP social media channels generated an astronomical 378.3 million total views during the 100-bracelet series, adding 222,828 total new followers across its digital ecosystem.
WSOP 2026 Social Media Performance
|
Platform |
Total Views/Impressions |
New Audience Growth |
|
YouTube |
38.7 million views |
103,128 new subscribers |
|
|
125 million views |
54,450 new followers |
|
|
127 million views |
56,800 new followers |
|
X |
36.6 million impressions |
8,450 new followers |
Looking Ahead: A True Global Season
While the Main Event action in Las Vegas has paused until the Final Table resumes in August, the WSOP excitement continues year-round. This year marks the formal rollout of the ambitious, revamped $1 Million Global Player of the Year (POY) race. The new global leaderboard unifies the brand’s three flagship festival pillars: WSOP Europe (which completed its historic run in Prague earlier this spring), the Las Vegas summer series, and the upcoming WSOP Paradise winter festival.
The global POY winner will be crowned at the conclusion of WSOP Paradise, hosted at Baha Mar resort in The Bahamas from December 1 to 17, 2026. In the meantime, the WSOP Circuit (WSOP-C) continues its action-packed year, including a special concurrent Circuit run in Las Vegas from July 14 to 25, 2026.
Players should follow @WSOP on X (formerly Twitter) and Instagram or check WSOP.com for more news and updates on WSOP events.
The post THE 57th ANNUAL WORLD SERIES OF POKER® CONCLUDES AN EXTRAORDINARY SUMMER OF GLOBAL ENGAGEMENT AND ELITE COMPETITION appeared first on Americas iGaming & Sports Betting News.
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