This is all really puzzling.
Of course Betfair revenue is up, they are covering more races, trots and greyhounds than they ever have and added more inplay options on those races.
Then they have increased premium charges and levies.
Revenue is not profit.
Any company that reports revenue rise is playing smoke and mirrors to it's shareholders.

Revenue minus total expenses is profit.

Liquidity is down, both here and in the UK, the gaps between back and lay prices and market percentages in all but the last two minutes tell the story.

& yet BF still provides on average the best prices if you are a backer, & the option to lay if that floats your boat. & do not ban.

Maybe BF is slowly but surely going down the gurgler, maybe not, will worry about it when I wake up one morning & cannot logon. Until then will continue to enjoy getting prices I cannot get anywhere else.

That happened to me a few times when I was getting started, quite distressing. With Betfair's future uncertain, best not leave more money than absolutely needed in BF accounts.

Who says its uncertain? Betfair are making a profit. They are not going anywhere.

I meant Betfair Australia, which isn't making a profit. But yeah I was being dramatic.

Betfair Australia is a 50:50 joint venture between Betfair and Crown Limited. Net revenue was up 13% in the year, driven by a 23% increase in Australian racing revenues. Following the decision of certain states to implement turnover-based race field fees, Betfair Australia increased the base rate of commission from 5% to 6.5% on Australian horseracing. This change in pricing structure was the driver of the increase in horseracing revenue. The revenue growth, however, was insufficient to cover the increased race field fees and our share of underlying operating profits reduced to £1.4m (FY12: £2.4m).

As stugots just showed. They made roughly 4-5million Australian dollars profit (covert from pounds to aussie dollar). Its obviously going just fine and growing each year.

I apologise, I was wrong. I read the following article on the SMH website which reported a $1.6m loss for year ending April 2013 and assumed they were talking about the AU operation:

http://www.smh.com.au/business/crow...0318-3506r.html

I wouldn't have a clue how to interpret an annual report so thanks for the correction.

That article is so incorrect. The year before betfair made the following in its annual report:


So betfair is making lots of money year in and year out. The SMH reporter must not have done their research properly (which took a whole 5 seconds).

Now can we think of any reasons why a paper would incorrectly report such a thing? Hmm, let me take 5 seconds to come up with half a dozen;)