Betfair to Gain Aussie Licence
 

The following is a report in today's Daily Telegraph about Betfair gaining a licence from Tasmania to operate legally in Australia.

Licence for Betfair
By Sean Stevenson
July 13, 2005

TASMANIA seems certain to revolutionise Australian racing by granting a licence to controversial online betting exchange Betfair.

Premier Paul Lennon yesterday gave his strongest indication that London-based Betfair would be allowed to operate in Tasmania.

He said providing Betfair with an Australian licence could "bring great benefits to Tasmanian racing".

This is despite Tasmanian racing facing a backlash if Betfair is granted a foothold in Australia - Tabcorp, Racing Victoria and Racing New South Wales have threatened that Tasmania will be excluded from the SuperTAB betting pool and Sky Channel racing coverage, as well as being expelled from national racing bodies if it licenses Betfair.

Speaking on a Melbourne radio station, Mr Lennon said Tasmania had been at the forefront of regulating gambling in Australia for decades.

"The first legal casino was licensed here in Tasmania back in 1972, and it commenced operating a year later," he said. "We can all remember the views that were expressed at that time and how ill-founded they were.

"Betfair, of course, can already operate in Australia under a licence granted in the UK. I have always believed that it is best to regulate these activities, rather than put your head in the sand and believe somehow they will go away if you just ignore them."

Betfair requires an Australian licence to advertise its business in the country and establish a second global hub. An Australian licence will also launch a 50-50 joint venture with Kerry Packer's Publishing and Broadcasting Limited.

Betting exchanges facilitate bets between punters, but some in the racing industry argue they are a threat to the sport's integrity because they allow punters to back a horse to lose.

But Mr Lennon clearly does not accept this view.

"To say that to licence a gambling activity like Betfair will create corrupt activity is, I believe, misleading," he said.

betfair
 

EDITED.

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