Image source: Freepik
Have you heard the name Andrew Black? If you’re familiar with online betting, you probably have. Andrew Black is best known as the co-founder of Betfair, the revolutionary online betting exchange that changed the face of gambling forever.
Here’s everything you need to know about him.
The Man Behind the Betfair Revolution
Andrew Black, born in 1963, is the son of a property developer and the grandson of Sir Cyril Black, a former Tory MP for Wimbledon known for his fierce opposition to gambling. Ironically, his grandson would go on to reshape the betting industry completely.
Andrew Black’s early years weren’t exactly traditional. He attended Exeter University but dropped out, opting instead to pursue gambling professionally. He developed a passion for horse racing and casinos, honing his skills as a gambler before later finding success as a technology entrepreneur.
From Gambling to Tech Innovator
Before launching Betfair, Black worked in the City of London for a derivatives firm. However, his love for gambling eventually led him to leave his city job and attempt a full-time career as a gambler.
Though successful, it wasn’t enough to sustain him long-term. He pivoted to the tech world, launching a software business that secured a lucrative contract with GCHQ (Government Communications Headquarters) — the UK’s intelligence and cybersecurity agency.
It was during this time that Andrew Black began developing the idea for an online betting exchange.
How Betfair Was Born
In the late 1990s, Andrew Black worked tirelessly in the evenings to develop a prototype for a betting exchange—an idea inspired by financial markets where users could act as both backers and layers (essentially taking the role of the bookmaker).
His passion for bridge (a strategic card game) led him to meet Edward Wray, a fellow bridge player and financier. Impressed by Black’s prototype, Wray agreed to invest. They raised £1 million from family and friends after venture capitalists rejected the idea.
In 2000, Betfair officially launched—and the betting world was never the same.
Disrupting the Industry
Betfair’s concept was simple yet revolutionary: allow people to bet against each other rather than the bookmaker. Larger bets could be formed through multiple smaller wagers, similar to how financial exchanges work.
Betfair’s arrival sent shockwaves through traditional bookmakers like William Hill, who were mocked for being “dinosaurs” in the fast-changing landscape.
By 2010, Betfair floated on the London Stock Exchange, valued at an astonishing £1.4 billion. Andrew Black’s 15% stake was worth around £200 million at the time. The share price soared from £13 to £44 before Betfair was eventually acquired by Paddy Power in 2016.
At his peak, Andrew Black’s personal fortune was estimated at over £500 million.
A Lifelong Passion for Horse Racing
Horse racing has always been close to Andrew Black’s heart. In 2009, he partnered with former football star Michael Owen to launch Manor House Stables. One of their biggest successes was Brown Panther, a popular racehorse who famously won the St. Leger Stakes in 2014.
From 2007 to 2016, Black also shared his thoughts on racing through his popular Bert’s Blog, offering betting insights and commentary.
Life Beyond Betfair
Though Betfair made him a fortune, Andrew Black didn’t walk away from his passions. He remains an avid professional bridge player and is still closely involved in racing and gambling circles.
Legacy of Innovation
Andrew Black didn’t just co-create Betfair—he created a new way to bet, which inspired countless others and marked the biggest shift in the history of bookmaking.
As gambling writer Dave Nevison once admitted in his book A Bloody Good Winner, he wished he’d thought of the betting exchange idea himself. But as many say—everything looks obvious in hindsight.
Final Thoughts
Andrew Black is much more than a wealthy businessman. He’s a former professional gambler, innovator, and someone whose passion for technology and horse racing led to a billion-pound industry revolution.
Whether you’re a bettor or not, his story shows how passion, persistence, and a good idea can change an entire industry.
Photo: Freepik
These days, betting exchanges are familiar to most gamblers. Many punters couldn’t imagine the betting world without them. But back in the late 1990s, few knew such platforms existed. The rise of betting exchanges dramatically changed the gambling landscape forever.
When people think of casinos, they picture flashing lights, ringing slot machines, and high-stakes bets. But there’s another side to these glamorous gaming halls—
Tony Bloom. The name alone stirs up admiration, intrigue, and, let’s be honest, a fair bit of mystery. Brighton & Hove Albion’s chairman, professional poker player, and master sports bettor — Bloom is a man who keeps his cards (and spreadsheets) extremely close to his chest.
Poker has fascinated players for centuries. For many, it starts as a casual game among friends or a hobby on weekends. But for others, it becomes much more—a lifestyle, a business, and ultimately, a profession. If you’ve ever wondered how to transition from a recreational poker player to a professional, this guide will show you the steps, bankroll requirements, income potential, and some surprising aspects most people overlook.