Betfair loses key Australian court case

30/03/2012 | By More

Racing officials in New South Wales are rejoicing after a years-long challenge to their race fields legislation was this morning thrown out by the High Court.

Read more here – https://www.abc.net.au/news/2012-03-30/racing-nsw-wins-court-battle/3922762/?site=melbourne

Betfair Australasia chief executive Giles Thompson says he respects the court’s decision but says it will reduce the competitiveness of wagering on racing in NSW. “A turnover fee will place extreme pressure on our ability to continue to offer our customers what we believe is the best product in the market.”

I not sure what direct impact this will have on Betfair as RoW revenue in Fy12 results was only £16.4m and Betfair only own 50% of that venture. You also have ambiguity on how Australian revenue is generated. Do people betting on Australian markets outside that country contribute to the same pot?

However, it’s not a positive move from an exchange perspective, especially for those in Australia.

 

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Category: Australian, Betfair, Industry news

About the Author ()

I left a good job in the consumer technology industry to go a trade on Betfair for a living way back in June 2000. I've been here ever since pushing very boundaries of what's possible on betting exchanges and loved every minute of it.

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