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Andrew Black (born 13 May 1963) is a British entrepreneur who, together with Edward Wray, a gambling entrepreneur, founded Betfair, 5️⃣ the world's first and largest bet exchange. He is now a noted angel investor in technology businesses in the UK 5️⃣ and further afield, and is a keen race horse owner and professional bridge player.
Early life [ edit ]
Black was born 5️⃣ on 13 May 1963, the son of a property developer and grandson of Tory MP for Wimbledon Sir Cyril Black, 5️⃣ who campaigned, among other things, against gambling.[2] He attended King's College School in Wimbledon, where he excelled at maths (according 5️⃣ to a moneyweek profile in 2009, not citable due to an entry in Wikipedia's blacklist) and then attended the University 5️⃣ of Exeter but was asked to leave during his second year, saying later that he had spent most of his 5️⃣ time at the bookies rather than attending lectures.
Black took a succession of unskilled positions after dropping out of university but 5️⃣ when his younger brother, Kevin, contracted a debilitating brain infection at the age of 19 Black gave up work to 5️⃣ look after him until his death aged 21.[3] Black then worked in the City of London for a derivatives business, 5️⃣ but during this time was becoming increasingly successful as a gambler, eventually earning sufficient money in winnings to give up 5️⃣ work and concentrate on gambling full-time for a while. After initial success, full-time gambling looked unlikely to provide sufficient financial 5️⃣ support for Black, who was newly married, so he set up a software business. The business won an on-site contract 5️⃣ at GCHQ which involved being 'locked out of the office' every day at 5.00 pm, giving him long evenings during 5️⃣ which to refine his ideas for a bet exchange. He became friends with Wray through playing bridge together[3] and showed 5️⃣ him a prototype he had programmed which succeeded in securing Wray's interest and investment.
Investments [ edit ]
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