November 3 - After a few years of negotiations between online betting
exchange
Betfair and the government of New South Wales, Australia's most populous
state, it seems that Betfair may receive a betting licenses soon. The news once
again has the state's horseracing fraternity in a tiff,
unlike other parties such as the Tasmanian Thoroughbred Racing Council who see
real benefits in the deal.
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Betfair.com |
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The NSW Government is reported to be in discussions with Betfair's Australian
office, which is
a joint venture between James Packer's Publishing and Broadcasting (PBL Ltd).
The JV holds a license to operate in Tasmania.
Rod Thirkell-Johnston, chair of the Tasmanian Racing Council, argues that the Betfair's
presence in Tasmania has lead to an increase in prize money and brought a new
kind of punter to the races. The most positive aspects of Johnston's comments
was that initial fears related to the integrity of racing have come to naught.
"I was very concerned about the integrity side of it and I have to say my
first opinion about Betfair was probably wrong," said Thirkell-Johnston.
"There's been no problems with Betfair at all and it's been very straight
forward. They've been able to monitor the integrity satisfactorily."
Betfair started operating in Tasmania in February 2006 at a $4.59 million
licensing cost.
Thirkell-Johnston said Betfair has resulted in an average stake increase per
race of $2,750.
Betfair is therefore realising excellent revenue for the Tasmanian Racing
authority.
Click here to visit
Betfair.com (unfortunately US players cannot register at Betfair).
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