Japanese technology Softbank is to acquire a 23% stake in Betfair in a deal which values the online internet betting exchange at a colossal £1.5 billion.

Softbank will buy up to 20% Betfair's parent company The Sporting Exchange and has also pledged to snap up a further 3% of Betfair shares - making it the betting group's biggest single shareholder when the deal completes in April.

Punters who originally invested in Betfair at £1 a share will see a stunning return of 130 times their initial investment as the offer price of £13 follows a 10-for-1 share split.