Betfair US head Cunningham to go after strategy review

BETFAIR US head Gerard Cunningham has left the company following a strategic review of the betting exchange’s American business.

The company said the head of its US operations (pictured) had taken the decision to pursue other opportunities.

A company statement read: “We have decided that the strategy for the US is to enhance our horseracing offerings and to support our global product development initiatives and therefore, at this point, [the company] want the US horseracing and engineering teams to integrate more closely with UK operations. Given these changes, Gerard decided to leave the company to pursue alternative opportunities.”

Stephen Burn will now run Betfair’s US horseracing business and Los Angeles office, reporting to Betfair’s UK-based managing director of exchange, Mathias Entenmann.

Ravi Keswani will continue to run the US engineering and product management teams and assume responsibility for the San Francisco office, reporting to Betfair’s London-based chief technology officer Tony McAlister.

Cunningham was at the helm when Betfair entered the US market with its buy of online wagering and TV racing network TVG in February 2009.

Since then he has also served when Betfair led a US$5.5m round of funding in Watercooler, a developer of fan communities and social games which claims to have more than 26 million users in October 2009; and when the same month Betfair signed a deal with America’s Breeders’ Cup to allow Betfair customers to bet directly into US tote pools.