And here's the bad news..................

Many of you will be aware of a recent decision by the High Court of Australia which upheld Racing NSW’s decision to impose a turnover based fee on wagering operators.

Due to the additional cost to Betfair associated with this decision and in order for us to continue to offer an Australian racing product to customers, it is necessary to implement an increase to prices on all Australasian racing markets.

From 1 May 2012, Betfair’s market base rate (‘MBR’) on all thoroughbred, harness and greyhound races in Australia and New Zealand will increase from 5% to 6.5%. Customers will still obtain Betfair Points on these markets in the ordinary manner and will remain eligible to receive a discount on the commission payable in accordance with their discount rate (the maximum discount rate remains 60%).