Whats the legal position in Australia now (Dec 2003) regarding the use of Betting Exchanges, one London based exchange in particular??

And in general, as punters in Australia, do you want these exchanges to operate or not??

Welcome flintstone. Judging by your website I'm surprised you are not an authority. You have come to the right place, we have many "know-alls" on this forum. Enjoy!! :wink:

ok ok, point taken...but I am in Poland now...and not up to speed on the law in Australia regarding this matter... I was interested to know...if the interest is there for Betting Exchanges or not...thanks for your responce though...

As I've said flintstone, you have come to the right place, we have many (well at least 2 anyway :roll: ) self proclaimed "experts" on this forum.

Sit back & enjoy their work (and stablemates) !! :wink:

To the best of my knowledge only the State of NSW has outlawed betting on exhanges.

The rest of us can.

That may change but unlikely punters will!

Cheers

I would like to see betting exchanges made legal and ozzie owned with access for international $$ coming in rather than going out.

Hi flintstone. Topic already covered a lot on this forum. Suggest you use the search feature provided on the forum, to view relevant threads.

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All the best from the West

Sandgroper :smile:

[ This Message was edited by: Sandgroper on 2003-12-18 13:36 ]

Hey Freddie Flintstone,

Nice link to your website.

You must think we are as dumb as your missus Wilma.

Just wondering what the post is about except to get a link to your site, but what I can't understand is why you have bothered.

You claim over 87000 copies of your book sold at $39.95 each.

Thats approx $3,500,000.

Oh I know why you lost the lot on the punt :???:

Hi kencharn, thanks for your comments. Me and the Missus Wilma are doing just fine, just had a brand new baby too!!! no she's not called Pebbles!!!

The point to my earlier post was to get an answer to the question, which I now have , thanks, Just as an update, The Betting Exchange I was reffering to has just come back to me now as I write this, saying "Betting on the Exchange in Australia is completely legal. The only betting that is illegal is to bet 'in-running' via the internet.

Your other calculations are not bad either. bare in mind though, my publication (which there is no link to posted here) has been marketed for a long time and that $3.5 mill you mention, don't forget that the advertising costs were close to 80% of that.

Sure I'm in business and those publications are good BUT it was not my intention to 'ADVERTISE' on this forum, I was just simply asking a question. Thanks Regards Freddy and Wilma

Hi Freddy,

OK I'll eat humble pie, but you must admit it looked sus, and we get so much of that on this forum.

As far as betting exchanges, don't know about other states but NSW are illegal.

Cheers

Although Betfair is used here, it is not legal anywhere in Australia as yet.

Cheers.

Crash,

I think you are wrong there. The only state I am aware of that has any legislation that potentially makes Betfair illegal for people to use is NSW. ACT, Vic, Qld, SA and Tas dont have laws that cover it (not sure about WA) and the Federal Government legislation does not make it illegal (except if you bet "in the run" on the sports that are covered in this manner). If there isn't a law that makes it illegal then it is, of course, legal!

The NSW law has NEVER been enforced so we don't actually know if it would stand up in court (there have been various rumours that it wouldn't due to it breaching fair trade agreements, etc). I certainly wouldn't be surprised if nobody is ever charged under this law at all as I think it was primarily designed as a scare tactic for the TAB to use - it will lose it's scare factor if someone is charged and they get off with a slap on the wrist or have the law questioned by the judge. Better just to keep advertising the law but never try to enforce it! (If I was living in NSW I certainly wouldn't be worried about it!).

My main concern would be getting your money out of the exchange....from what i understand they are trying to stop you useing your CC on the sites

On 2003-12-19 11:55, Shaun wrote:
My main concern would be getting your money out of the exchange....from what i understand they are trying to stop you useing your CC on the sites


If we're talking Betfair, then I certainly wouldn't have any concerns at all about my money - they are a legitimate business and any adverse publicity in this area would severely affect their credibility.

The ban on credit cards was presented as a way of trying to force an Australian ban on offshore betting exchanges, if such a ban ever eventuated. As far as I know, there is no such ban in place on credit cards. The other thing is that the betting exchanges also have other methods of deposits and withdrawals, so such a ban would not be really effective anyway.

Just my AUD$0.02.

Cheers,
Chris.

Hi Stebbo,

Betfair & Betdaq are certainly trustworthy businesses and both are well established.

To my understanding there are two organizations that have expressed concern over Betfair operating in Australia. One of them is MasterCard. As far as the UK go, MasterCard seem to have imposed the following:

"MasterCard Changes
Recent industry-wide changes have been made that will not allow you to withdraw any funds back to a non-UK or non-Sterling currency MasterCard. Instead, you may withdraw funds to another registered card type such as a debit card, cheque, or by performing a bank transfer request. This may only be done once your MasterCard has been validated."

Betfair have a registered Bank Account in Sydney and funds can be transferred in and out of that. Internal Transfers are charged at $10Aud. There is no charge for Cheques.

Betfair maintain that they wish to be licensed in Australia. If this happens they do not see them selves as Betfair UK Company but would be Betfair Australia. (An Australian Company)

Freddy.