General Betting
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?...
what about bedaq , heard anything?
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/
sorry html link seems to doesnt work here properly
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?,...
clearly the royal family's sway is not what it was.
Cyprus is a different proposition:
http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/leisure/9534217/Betfair-to-challenge-Cyprus-ban.html
