The company is expected to be worth about £1.5 million.

Online gambling website Betfair is about to make its debut on the stock exchange, in a move that could be worth £1.5 million to its shareholders.

Founders Ed Wray and Andrew Black would be able to immediately cash about £375 million, while other parties, including chief executive David Yu, should also benefit financially.

A spokesman for the sports betting specialist said trading on the stock market is "one option for a business of this scale".

The firm has received advice from Goldman Sachs and Morgan Stanley and is thought to have been considering the move for several months.
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But it is now ready to float on the London exchange, creating one of the most notable market debuts of the year.

Mr Wray and Mr Black are each expected to sell a portion of their stake in Betfair if the move is completed.
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The company prides itself on its ability to process more than 99.9 per cent of bets within a second and has more than two million customers.

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