Skip to main content

Betfair UK is falling down

Not a glowing article about them in the Guardian today, just backing up the anecdotal stories heard elsewhere. The problem for them is that many of those staff listed as leaving are the 'good eggs', frustrated as hell by the impenetrable cliques and bone-headed decision making going on elsewhere. The firm has lost nearly half its paper value since it floated - surely it's time for blood at the top?

Going looks hard for Betfair as managers quit and shares fall

Wave of middle-management departures rocks betting exchange already reeling from shares selloff

Betfair, the embattled betting exchange, has been rocked by a fresh crisis following a wave of middle-management departures. The defections come as the company digests the results of a private poll of staff revealing that employees believe their company lacks direction.

This year's departures include: Mathias Entenmann, chief product and services officer; Charlie Palmer, head of mobile; and Robin Osmond, chief executive of financial betting exchange LMAX. Lee Cowles, director of UK sports and gaming, is understood to have told staff he will also be leaving.

These have been joined by director of European and public affairs Tim Phillips, head of strategic programmes Emily Foges, director of site products and services Rob Glynne, head of sports exchange products Alex Deacon, IS director Tony Rigby, and Don Fotsch, vice-president of global user experience.

News of the departures comes as the group's shares, which listed at £13 last autumn, have come under pressure. They have slumped from around £10 in early April. The latest sell-off, which saw the price hit a low of 778p, is thought to have been triggered by predictions that next month's results announcement will be lacklustre, heaping more pressure on chief executive, David Yu. Analysts at Investec, who have a 445p share price target, predict pre-tax profits of £21.9m for the 12 months to April the same as in 2010.

A source close to the company said: "Betfair has lost a lot of good people. There is no leadership. It is a given that there will be no growth [in the annual results] as for a long time the company has been running hard to stand still. If good decisions were made and proper structures put in place the company would be able to accelerate quickly."


  1. Sad but true................

    It's not too late for them IMO, but if a credible competitor came along now, I reckon the end would be in sight.

    You ever thought of doing it all over again?

  2. Would need a major clearout before I'd even consider it. Too far gone now for me to go back, not a fan of big corporate environments, much prefer the excitement and spontaneity of start-ups.

  3. Haven't you just answered Betfair's dilemma?
    The staff and personalities that drive a start-up are not the same one's who want to take a company into "adulthood".
    When a company is growing exponentially, it must be hugely exciting. But now, being the dominant world-leader of betting exchanges, isn't it a period of consolidation and seeking new markets?
    Where do we want Betfair to be in 10 years?
    Me personally, I want it to remain in existence (or be replaced with an equally available exchange). But I don't want it to start buying hotels, or football clubs, or racehorses.
    I would like Betfair to protect the "ordinary" punter more, perhaps by providing a an alternative "bot-free" exchange. As a player who does not use a "bot", I find some markets (ie, in-running during horseracing) are virtually un-playable.
    A great blog by-the-way, well done.

  4. Excellent post Scott. Betfair is not only losing the core of its middle management, it is well on its way to losing any last scraps of loyalty from its customers. The PC was the beginning of the end in that respect, followed by the long series of site crashes and unnecessary gimmicks added to the site. Betfair has sadly become another corporate beast lacking soul and ignoring those who made it such a success.

    We've added you to our blog list Scott

  5. thanks Betfair Shark. I've got a rule about new blogs - too many guys write 3 or 4 posts and then give up. Keep the content flowing and I'll endorse you on my blogroll in a few weeks.

  6. As an observer from the U.S. side, much the same is happening there. They have let a lot of good people go while keeping the dregs. Their desperate attempt to lobby their Exchange through could be a very expensive failure.


Post a comment

Thanks for your comments, but if you're a spammer, you've just wasted your time - it won't get posted.

Popular posts from this blog

lay the field - my favourite racing strategy

Dabbling with laying the field in-running at various prices today, not just one price, but several in the same race. Got several matched in the previous race at Brighton, then this race came along at Nottingham. Such a long straight at Nottingham makes punters often over-react and think the finish line is closer than it actually is. As you can see by the number of bets matched, there was plenty of volatility in this in-play market. It's rare you'll get a complete wipe-out with one horse getting matched at all levels, but it can happen, so don't give yourself too much risk...

The Melbourne Cup preview 2019

We're back again for the greatest race on turf, the world's richest staying race and the only race in the world which creates a public holiday for millions of locals.

Once again a fine international field has been assembled and it's worth a deep look at the race. So get a cuppa and find a comfortable seat to plough your way through my preview!


The Lexus Melbourne Cup
Group 1, Handicap, 3200m
AUD 7,750,000
Flemington 1500 local, 0400 GMT
Broadcasters - Network 10 (AUS), (worldwide), SkySportsRacing (UK)

1. Cross Counter
Trainer - Charlie Appleby (one previous Cup win)
Jockey - William Buick
Breeding - Teofilo - Waitress
Drawn 5, Weight 57.5kg

Last year's impressive winner who doesn't get the 3yo weight advantage this time. Won first up at Meydan in March but has run fourth, third, fourth in the big set weights staying races in England and Ireland, never quite making it as the next big staying star. While running close behind Stradivar…

Westow Stakes - York 16/5/19

The sun was out for a glorious opening day of the meeting, and races down the straight appeared to have no concerns about draw bias. Thursday's card has a few higher profile races but this 3yo sprint is worth watching closely, tomorrow and for future form.

British Stallion Studs EBF Westow Stakes
£50k, Listed & Class 1, 3yo, 5f
York 1605

Soldier's Call - flying machine, winning four of six starts in Britain last season, running third in the Prix L'Abbaye, beaten a neck at WFA then finished sixth as joint favourite in the BC Juvenile Turf Sprint. Has plenty on these on ratings, but life's rarely that simple with unexposed 3yos early in the season.

Broken Spear - more exposed than most of these and well beaten by Garrus first up. Missed Chester last week, probably due to the rain (or a poor draw). Pass.

Charming Kid - won at this meeting last season but has been a little erratic ever since. Well beaten on AW Championships Day, appears to be a few lengths off these.

Garrus -…