[quote]
On 2004-10-19 20:33, Neil wrote:
One of the absurd arguments against Betfair and other betting exchanges is that punters can profit by making money on a horse not winning and this will lead to corruption.

Hi Neal! I was listening to the wireless (radio) this morning also, and found the arguments brought forward by the TAB spokesman extremely amusing. We DO have a system here, where we bet against the winners! By pouring money on horses we think have a chance we shorten their prices therefore the prices of lesser chances increase, so if you are game to bet on longer odds you go for them!!! The whole argument is Monty Phyntonist.
The only reason is money!!!! TAB!!! get back to a realistic level of takeout and you have nothing to fear!