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04 Sep 19
05:39
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Date Joined:
20 Jul 02
Club response to Betfair offering betting exchange wagering on Hong Kong racing
Dear Editor,
The Hong Kong Jockey Club is committed to upholding uncompromising integrity as a world-class racing club. Without prior consultation with the Club and in the absence of the Club’s permission and license, Betfair Pty Limited (“Betfair”) unilaterally announced on 21 August 2019 that it would be offering betting exchange wagering on Hong Kong racing. In line with its announcement, Betfair commenced offering wagering on Hong Kong, with the Sha Tin race meeting on 1 September 2019.
The Club takes this matter seriously as it represents a serious integrity issue and an equally serious infringement of its intellectual property rights. In addition, creating the opportunity for people to back horses to lose is against what we all believe in.
The Club has expressed, in writing, its grave concerns and opposition to Betfair’s actions to the Australian government and relevant racing authorities, including Northern Territory Racing Commission which licenses Betfair, the Australian Communications and Media Authority which administers the Interactive Gambling Act, and Racing Australia which is the national racing authority and makes the Australian Rules of Racing. The Club has also sent formal letters to Betfair and its parent company, Crown Resorts, demanding them to immediately cease and desist from offering wagering via its betting exchange platform (including in-play betting) on Hong Kong racing, and any related promotion or advertising for the purpose.
Betfair made their announcement via Twitter and Youtube without prior notice to the Club, and we were first made aware of it by the media. The Club is making public the enclosed letter to Betfair to let the media and the public understand the Club’s zero-tolerance towards issues relating to integrity and intellectual property rights.
Public Affairs Department.
Dear Editor,
The Hong Kong Jockey Club is committed to upholding uncompromising integrity as a world-class racing club. Without prior consultation with the Club and in the absence of the Club’s permission and license, Betfair Pty Limited (“Betfair”) unilaterally announced on 21 August 2019 that it would be offering betting exchange wagering on Hong Kong racing. In line with its announcement, Betfair commenced offering wagering on Hong Kong, with the Sha Tin race meeting on 1 September 2019.
The Club takes this matter seriously as it represents a serious integrity issue and an equally serious infringement of its intellectual property rights. In addition, creating the opportunity for people to back horses to lose is against what we all believe in.
The Club has expressed, in writing, its grave concerns and opposition to Betfair’s actions to the Australian government and relevant racing authorities, including Northern Territory Racing Commission which licenses Betfair, the Australian Communications and Media Authority which administers the Interactive Gambling Act, and Racing Australia which is the national racing authority and makes the Australian Rules of Racing. The Club has also sent formal letters to Betfair and its parent company, Crown Resorts, demanding them to immediately cease and desist from offering wagering via its betting exchange platform (including in-play betting) on Hong Kong racing, and any related promotion or advertising for the purpose.
Betfair made their announcement via Twitter and Youtube without prior notice to the Club, and we were first made aware of it by the media. The Club is making public the enclosed letter to Betfair to let the media and the public understand the Club’s zero-tolerance towards issues relating to integrity and intellectual property rights.
Public Affairs Department.
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file:///C:/Users/Admin/Downloads/2019%200904%20Letter%20to%20Betfair%20Signed-contact%20black.pdf
and there is the link to the actual letter which is too long to copy and paste.
and there is the link to the actual letter which is too long to copy and paste.
ePersonally, while I sympathise with the HKJC as I've made my living from HK racing for nearly 30 years, I feel the HKJC's response is essentially typical of a monopolistic supplier and they have to face the harsh realities of the change in (betting) technology which Exchanges represent. However unpalatable to the funding of racing, and whatever the integrity issues, exchanges represent such a significant cost reduction to punters/consumers (via such lower takeouts/market overrounds) that their progress is and has been inexorable. HK racing is perhaps the last bastion.
Is it cheaper for the punter at the cost of the industry rather than the operator?
that is indeed the question, there is no doubt Exchange technology provides a funding challenge to horse racing but the trouble is, imo, the genie is out of the bottle and no one is going to be able to put it back.
https://www.scmp.com/sport/racing/article/3025638/jockey-club-orders-betfair-cease-and-desist-betting-hong-kong-racing
this is probably a better link
this is probably a better link
so is this gonna be overturned do you think? i.e. will BF be able to continue offering HK racing?
They do right to try to stop it worse thing to ever happen to racing here
Already p issed em off might as well unload the whole apple cart and offer it to the UK exchange.
Their pools are a total rip-off. I think I'll go and demonstrate!
THe HKJC letter is pretty punchy:
https://res.hkjc.com/racingnews/wp-content/uploads/sites/3/2019/09/20190904-Betfair-attachment.pdf
https://res.hkjc.com/racingnews/wp-content/uploads/sites/3/2019/09/20190904-Betfair-attachment.pdf
Yes very good letter, imo, from HKJC though it is surely no more than Betfair Aus would have expected and discounted for when making their decision to offer exchange markets on HK racing
so far no response from Betfair Aus, as far as I am aware
so far no response from Betfair Aus, as far as I am aware
If you wander round Honkers you see HKJC everywhere. Hospitals and university buildings, cancer research centres. Dont recall seeing any Betfair or Tote largesse in Blighty.
yes there is much to be said for a Tote Monopoly. Arguably the HKJC could do even better as they have mind-boggling cash reserves and are the billions spent on the China project the most efficent use of said billions?
Betfair Australia caves to Jockey Club demands and pulls exchange on Hong Kong racing
In a surprise move, the wagering company decides to stop operating on Sha Tin and Happy Valley meetings immediately
https://www.scmp.com/sport/racing/article/3029615/betfair-australia-caves-jo...
In a surprise move, the wagering company decides to stop operating on Sha Tin and Happy Valley meetings immediately
https://www.scmp.com/sport/racing/article/3029615/betfair-australia-caves-jo...
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