Andrew Black

Andrew Black is a British entrepreneur best known as the co-founder of Betfair, the world's first and largest betting exchange. Born in 1963, Black developed an early passion for gambling, particularly horse racing and bridge. He attended Exeter University but was expelled for spending more time at the bookmakers than in lectures. After a period as a professional gambler, Black recognized inefficiencies in traditional betting markets, leading him to conceptualize a peer-to-peer betting platform.

In 1998, Black partnered with Edward Wray to found The Sporting Exchange Limited, which launched as Betfair in 2000. The platform revolutionized the gambling industry by allowing punters to bet against each other rather than against a bookmaker, operating on a model similar to a financial exchange. Betfair quickly gained market dominance and was floated on the London Stock Exchange in 2010 with a valuation of £1.4 billion. The company was later merged with Paddy Power in 2016.

Following his success with Betfair, Andrew Black transitioned into an active role as an angel investor in technology businesses, with a particular interest in the gambling and sports sectors. His investment portfolio includes companies such as Network Gaming, Bubble, Boku, and Nanotether. He frequently advises nascent companies on innovative ideas within the betting landscape. Black has invested in 9 companies, with his most recent investment in Network Gaming on March 31, 2022.

Beyond his entrepreneurial and investment pursuits, Black remains a keen racehorse owner and a professional bridge player. He maintains a stud farm in Cobham and has publicly discussed his bloodstock operations on his horse racing blog, "Bert's Blog." He continues to participate in professional bridge tournaments, having returned to the game in 2011 after focusing on Betfair.