BETFAIR COMMITTED TO IN-HOUSE TECHNOLOGY DEVELOPMENT

Wednesday November 5,2014 : BETFAIR COMMITTED TO IN-HOUSE TECHNOLOGY DEVELOPMENT
 
Technology and product development headcount up 20 percent to 840.
 
Online gambling group Betfair's top technical manager has emphasised the company's commitment to in-house development of its technology and products during a presentation to investors and major shareholders this week.
 
The company's chief technical officer, Paul Cutter, said that innovation was driving in-house development projects in order for the group to retain its position in a competitive internet and mobile gambling market and continue to grow revenues.
 
In-house development was a key element in Betfair's corporate strategy, Cutter said, revealing that 86 percent of product development was carried out in-house, compared with just 53 percent at rival William Hill plc.
 
The company's restructured development operations include technical teams based in three locations – England, Portugal and Romania, he said, giving as examples of some of their latest work in-play features such as Price Rush and Cash Out +, which he said had driven sports punter staking average up by 20 percent.
 
Cutter said the Betfair board of directors had approved increased spending on technology, and that the company's technology and development staff complement had grown by 20 percent and now numbered 840.