Australian
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If Victoria really is following NSW charging 1.5%-2% of turnover Betfair will have to shut down those markets or radically change what they offer. If other states and sports follow Betfair will have to close those markets as well. 60% of gross profits in fees is too much. I cannot see it covering operating cost.
Why dont they just move the servers to somewhere else? They jumped ship from the UK and now dont have to pay levy to UK racing. Activity is unaffected because Betfair is already established in the UK. The same is true in Australia.
In there submission to the Victorian Wagering Review they mention:
'In relation to low margin overseas wagering operators, who currently don’t pay race fields fees at all,
a turnover based model would make these operators even more attractive to Australian punters.
This would lead to even further “leakage” from licensed Australian wagering operators, to the
detriment of the Australian racing industry.'
Why dont Betfair just become an overseas operator?
Why dont they just move the servers to somewhere else? They jumped ship from the UK and now dont have to pay levy to UK racing. Activity is unaffected because Betfair is already established in the UK. The same is true in Australia.
In there submission to the Victorian Wagering Review they mention:
'In relation to low margin overseas wagering operators, who currently don’t pay race fields fees at all,
a turnover based model would make these operators even more attractive to Australian punters.
This would lead to even further “leakage” from licensed Australian wagering operators, to the
detriment of the Australian racing industry.'
Why dont Betfair just become an overseas operator?
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Replies: 12
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because there is more than one sport being wagered on is Australia?
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THe other exchange was operating on Aus racing for a while and stopped due to legal reasons, so I am not sure it is so easy...
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US stopped it by stop banks making payments - UK is currently moving towards an off-shore taxing model
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i think the other mob stopped operating on aus racing ,just in case the high court went the other way and they wanted to apply for a licence.
the other purple lot wanted a clean slate..if my memory is working !!! |
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Found this article about Be t D aq stopping betting on Oz racing
http://www.theaustralian.com.au/sport/all-bets-are-off-as-online-agency-stops-operating-on-australian-racing/story-e6frg7mf-1226094895598 |
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interesting, thanks Hal
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What about the exchanges in Macao etc?
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the ones no one knows about Ballsy
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Oi, Lickyourownballs
 Is that a coffee or a parrott you refer to?  |
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BF would never leave these shores and bet on Australian Racing from some far off jurisdiction. They have a bigger picture in the USA, the biggest betting market in the world, that they r pursuing and in no way would they jeopardize putting aussie's betting authorities noses out of joint because of the possible ramifications it may have with the possible USA entry.
plus they r very good corprate citzens and they sure wouldnt want Australian Authorities shouting accusations at them |
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that's it logroller !!! its not just about the money.
maybe betfair will wear losses in a small market so that they have a better chance of expanding into other much bigger markets. or maybe even pass on only part of their cost increase and not all of it. bigger picture here !! |
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that is a possible outcome loggy BUT if they do it will look like they will just roll over and take whatever governments/administrators throw at them
my latest thoughts on what they'll do - switch off the exchange and just offer fixed odds on states / codes with turnover models |