Are betfair likely to quit Australia?

sure as a punter they are great, as is the concept of a betting exchange, as it clearly reduces the cost of punting by reducing the takeout

but are they good for racing? there is a big funding issue here because of their smaller margins they can't return so much to racing from the betting turnover and this is clearly very bad - and in places like the uk this is perilous

my personal feeling is that they do need to return more to racing

i believe this is a very likely scenario - ie lost court case and take bat and ball and go home

I suspect that if NSW wins than the other major states will follow suit in the following 12-18 months.
What will be interesting is what happens during that time in-between, we can only hope that the whole NSW market suffers without Betfair.

If Betfair Aus. was to cease their current operation hopefully they'll still maintain a license in one of the states or territories so that punters are protected from any future federal laws prohibiting Australian citizens from holding accounts with overseas firms.

I thought Victoria was already trying to revisit their agreement with Betfair in light of the pending High Court judgement and pressure from the Victorian breeding lobby.

Also a loss for Betfair and a legal precedent that turnover is a valid basis for a product fee will most likely attract attention from sporting bodies who currently have agrrements in place to renegotiate those agreements when they lapse.

The echange model would not survive under a turnover based fee, imo.

no chance in hell of them quitting australia.

The Australian Government should boot Betfarce out and nationalise the exchange industry. 

That way punters should get a good solid exchange that is a true exchange, all the revenue stays in Australia, AND it would bring revenue to the country from overseas, rather than the exchange sucking cash out of the country.

Sharp practices on the part of the operators and punters could be eradicated, and crucially, the Government would be able to exercise some level of control over the operation of the exchange.  Steps could be taken to promote fairness to all.

Does the legal action referred to have anything to do wit TQ?

Deadly Earnest
The Australian Government should boot Betfarce out and nationalise the exchange industry.


Well won't that work wonderfully!! and exchang/tote with a take out of 15-20% of winnings every race , not every week.


Governments have such a sensational record of runnig such ventures, that why they hardly EVER handball them to private enterprise

FFS

I'll put this one forward. BF loses because  the govt want it to lose.

Power shifts back to tabcorp.It then establishes a betting exchange which the govt either gets paid to "licence" OR it is hived off seperatly and run by govt and then sold to the public, later to be taken over by tabcorp and buried.

Labor is  corrupt to its boot heels joe public can get nicked in its eyes.

too true loggy, the people in our fed and state govts. haven't got the ability to organise a piss up in a brewery ... imo.

seems to me we have to conflicting but desirable policy objectives here

rather like full employment and low inflation or intelligence and happiness!

these are the kind of takeout for punters which a betting exchange allows, say around 6 per cent, and financing a healthy racing industry via decent prize money which the kind of takeout tab-style promotes

there needs to be some bright policy maker to be able to thread a way between the two and make them compatible, ie a cheaper deal for punters but not to the extent of shutting off the oxygen supply to the racing industry

btw, lots of good views expressed here, imo, thank you guys

How will turnover be determined.
surely not $matchedX2??

who is a backer and who is a layer.
I back a result- the other side they back the opposite

happy what do u mean underground off shore, most betting exchanges off shore r just as well regulated as any jurisdiction in Australia, and as for the Tab or Government running an exchange give us a break, it took the tab 10years just to start to update their internet portal which is sh!t, do u really think they will spend 5mill building a betting exchange platform, and then even come close to attracting enough liquidity to make it work, and as for the government yeah sure they r going to pass law to build and run a betting exchange, do u realize how silly that sounds, why do u and the government think gambling should be confined to our shores, surely it is any industry like any other service and should be able to perform to the rules and principles of best practice.

logroller i don't think the thoughts you are attributing to me, i do not think for one moment that gambling should be confined to national boundaries or in the usa state boundaries, indeed wrt HK i campaigned against this very thing

by off shore i mean where they have a tax haven, see above re gibraltor and the uk, by underground i mean the betting exchanges on the net which mop up HK, Aust, Macau, Sing, Malay turnover - logroller you seem behind the times, these are very sophisticated indeed and more or less a match for betfair

i stand by my comments about govt and a betting exchange,

logroller - and also by underground i mean unlicensed, unregistered and paying no tax to any govt anywhere and making no contribution to horse racing either, there are a couple of massive ones in chinese and one big one elsewhere,

i hope this brings you up to date as i wouldn't want you to look silly

Imagine trying to put a multi quaddie on and having to type in 8 characters for each number..

dont think they will go

Confuciuos say"--Man who bet on chinese betting--exchange, need to see psyciatrist"....