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.