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Betfair out of Greece next Monday

karagkounis

26 Nov 12 09:58

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Date Joined: 18 Sep 03

| Topic/replies: 3 | Blogger: karagkounis's blog

So, Betfair is leaving the Greek market next Monday...
As costumers we demand a good explanation for this decision and an answer to the question : why Betfair does not fight (with legal means) for its' rights and for its' costumers rights against the illegal Greek government decision for online betting sites?...

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Replies: 11

By:

saddo When: 26 Nov 12 10:12

You need a revolution, get rid of your government.

By:

blizard When: 26 Nov 12 11:46

thats really sort timeframe, and really stupid they dont fight these stupid rulles.

what about bedaq , heard anything?

By:

hippie When: 26 Nov 12 11:54

Betfair Quits Greek Gambling Market

British betting exchange Betfair has quit the Greek marketplace, citing regulatory uncertainty over gambling law in the cash-strapped country.
The company said it had previously operated in Greece without a local permit as they “consider the gambling legislation in the country to be inconsistent with European law”.

However earlier this month the Greek gambling commission threatened criminal charges and financial penalties if betting firms operate in the country without permission.
Betfair said the threatened charges – which may include payment of taxes on historical revenues – made the market economically unviable.
Greece had been expected to provide Betfair with £13m of revenue and £7m profits this financial year.
(source: cityam)

http://greece.greekreporter.com/2012/11/26/betfair-quits-greek-gambling-market/

By:

Tallywagger. When: 26 Nov 12 13:23

Does it include Cyprus?

By:

siwaadupa When: 26 Nov 12 13:32

here

By:

siwaadupa When: 26 Nov 12 13:33

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11407797

sorry html link seems to doesnt work here properly

By:

ballabriggs When: 26 Nov 12 13:51

http://www.bbc.co.uk/news/business-13954708

Its pre-tax profit for the 12 months to 30 April totalled £26.6m, up 50% from £17.8m a year earlier. Its revenues rose 8% to £368.6m.

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Prior to our decision to withdraw from the market, Betfair had been expected to generate £13 million of revenue and £7 million of contribution from the Greek market in the current financial year.

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What do they mean by "contribution"? If that is 'profit', a £7m hit on profits of £26.6m is a disaster. Also, if revenue to profit is £368m to £26m, how can the Greek revenue to profit be £13m to £7m?,...

By:

viva el presidente! When: 26 Nov 12 14:11

so that's germany and greece in a few weeks.

clearly the royal family's sway is not what it was.

By:

hippie When: 26 Nov 12 18:58

Tallywagger,

Cyprus is a different proposition:

http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/leisure/9534217/Betfair-to-challenge-Cyprus-ban.html

By:

bettmann When: 26 Nov 12 21:37

is the betfair site completey closed for greek ip`s or is it the same rule like in germany?

By:

dual When: 27 Nov 12 13:18

Access to the site will not be blocked however you will be unable to place any bets from withing Greece after December 3rd. At least this is how I understand it.