Betfair's owners have been considering a flotation for a number of months but have until now delayed their plans because of the uncertain investor climate.

Betfair was launched ten years ago by former professional gambler Andrew Black and Ed Wray, a former JP Morgan trader, and the flotation will see them look to expand around the world, with expansion plans for China, India and the United States in addition to Europe and Australia.

Black and Wray, who together own a quarter of the group, will reportedly sell around ten per cent of their holdings.

In its latest figures for the three months to the end of July, Betfair increased revenue by 22 per cent to £86.3million with sports betting revenue up nearly a quarter.

Betfair currently has over three million registered customers using their sports betting, poker and games websites.