There was an interesting report in Legal Week earlier this month about an additional (and relatively unknown) beneficiary of Betfair's profits.

"[International law firm] Linklaters is sitting on a seven-figure windfall from online betting exchange Betfair’s sale of a stake to Japan’s Softbank, it has emerged, as the City giant looks set to finally reap the rewards of dotcom-era fee deals.

The magic circle firm confirmed it had accepted a stake in Betfair via an equity-for-fees arrangement, one of a number of such deals Linklaters agreed between 1998 and 2001 as part of a drive to attract growth companies.

The stake, understood to be just under 1% of the company, potentially offers by far the largest payout yet generated by a UK law firm in a share-for-fees deal, with analysts currently estimating the gaming businesses’ market capitalisation at £1.5bn".

Considering that all number of people get mutinous when the topic of "legal fees" gets raised, one can only wonder what they will say now when they learn of this strategic investment !

Speaking of Betfair, where will they go next? A few commentators are predicting Africa - IS SOUTH AFRICA BETFAIR'S NEXT TARGET MARKET? - as that market is said to have "a local gaming market bursting at the seams as the country’s consumers benefit from the lowest interest rates seen in more than 25 years and buoyant economic conditions".

The country is considered important because of its close cultural links with Europe and Australia.