Betfair is without doubt one of the biggest British business success stories of the last 10 years. When the mainstream media's idea of business coverage is the jumped up egotists on 'The Apprentice' it is refreshing to have a book that highlights the global success of a modern forward, thinking company.
In the past 8 years Betfair and its concept of allowing punters to back and lay with each other rather than via bookmakers has completely revolutionised an industry, reducing prices for punters, highlighting possible cheating and in the process thoroughly annoying the incumbent traditional bookmakers who had had it good for so long.
Colin Cameron's book on Betfair is extremely well researched. He has gained access not only to many senior figures within Betfair but also from throughout the gambling industry, both peers of Betfair and the bookmakers who they competed with. His book covers all aspects of the Betfair story, from the background of the founders, the hard work of the initial idea, the constant battle with the incumbent bookmakers right through the wider impacts of the concept and the changes the industry can expect in the future.
The book is well written and engaging. My only complaint would be that it isn't written in chronological order and thus jumps around slightly. This I would imagine would make the book a difficult read for someone who isn't already familiar with Betfair. Also, as someone who knows quite a bit about Betfair, I felt that a few (but not many) points were missed, such as the fact that regulation of people acting as bookmakers on Betfair is irrelevant since the company can guarantee that they will always pay out, or the importance digital odds played in allowing punters to trade out of positions at low gains thus generating more liquidity.
All in all, a great read though about one of the most innovative companies of recent years.
