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Old 18th October 2005, 06:35 PM
La Mer La Mer is offline
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Join Date: Jan 1970
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Quote:
Originally Posted by Merriguy
Does anyone know what is happening re the Australian version of betfair? Seems to have been out of the media lately!?!?!


Not really, plenty of info about if you looksee.

For starters this is from yesterday.

Betfair Announcement To Be Made By Dec 1

Online betting agency Betfair's future in Australian racing will be known by December 1.

Tasmanian Premier Paul Lennon said an announcement on the internet betting exchange would be made in time for legislation to be dealt with this year "should we decide to proceed with it".

Tasmania's house of assembly and legislative council both finish sitting for the year on December 1.

Mr Lennon said he had been examining new information from the Australian racing industry in the past few weeks.

The industry has been vocal about its concerns for the integrity and probity of the UK-based company.

"I met personally with key members of the Australian Racing Board and the Victorian racing industry," he said.

"I had further representations from them and I am giving it the due and proper consideration I undertook to do.

"But there comes a time when decisions such as these need to be made and we are fast approaching it."

Mr Lennon said community consultation had decreased concern about the deal, which is backed by Kerry Packer's Publishing and Broadcasting Ltd.

He was aware a decision in favour of Betfair could harm the local racing industry.

"As I have said, if it is good for the Tasmanian racing industry then we will proceed ... some damage could possibly be done to the Tasmanian industry if we don't move carefully on this," he said.

"And that is what we are doing, moving carefully to make sure the industry is benefited."

Tasmania was approached by Betfair to grant its first Australian licence in April.

And from the Hobart Mercury today.

Racing Victoria offers alternative to Betfair
By GREG MANSFIELD - RACING , Tuesday, 18 October 2005

Racing Victoria has made a lucrative multi- million-dollar offer to Tasmania that would see an increase in prizemoney, more races and the scrapping of nomination fees.

Under the proposal, some administrative functions would be merged to cut costs and all Tasmanian thoroughbred meetings would eventually be shown on the new TVN racing channel.

Racing Victoria would accept direct accountability for achieving agreed prizemoney levels and would structure the industry in a way that guaranteed higher stakes and more races.

In return, Racing Victoria would want a say in how the industry was run but the Tasmanian Thoroughbred Racing Council would retain its sovereignty and remain accountable to stakeholders.

The offer has been presented to Premier Paul Lennon and Racing Minister Jim Cox, and local racing administrators are aware of the details but have been told not to say anything.

However, Racing Victoria is understandably keen for details of the offer to be made public because it wants to show that Tasmanian racing does not need Betfair in order to prosper.

When added to the $3.4 million reduction in settlement fees offered to Tote Tasmania, it's estimated that the total package from Victoria is worth more than $6 million a year.

This exceeds the initial licence fee offered by Betfair.

Racing Victoria has told local officials that its offer is not conditional on Betfair being rejected but there's no doubt that it's designed as an incentive to keep the betting exchange out.

One local administrator, who asked not to be named, said that the Racing Victoria proposal "could be one of the best things that has ever happened to racing in Tasmania."

"It's not a takeover - the same proposal is being put to South Australia in a bid to strengthen the ties between the three states and benefit racing in each area," he said.

¤¤¤ Premier Paul Lennon has failed to alter the Tasmanian Thoroughbred Racing Council's opposition to Betfair - in fact, it has increased.

In a recent letter to owners, TTRC chairman Geoff Harper reaffirms the council's view that licensing a betting exchange "is definitely not a good thing for our industry or the Tasmanian community."

Mr Harper said that the council remained unconvinced that allowing individuals to lay horses to lose was in the best interests of racing and policing this activity was "not in any way feasible."

"We also have fears about the financial uncertainties that surround the proposal," he said.

"We are seriously concerned about the total absence of any form of business case... and, despite several requests, still have no figures on returns that the industry would receive.

"The TTRC has called for an independent financial analysis."

Mr Harper said that the council was concerned how Betfair would impact on Tote Tasmania's turnover which in turn could result in a loss of revenue for the racing industry.

The Tote's $3.4 million settlement fee reduction would also be put in jeopardy.

"This annual payment is a golden opportunity that we should grab with both hands while it is still on the table," he said. "It should not be put at risk, especially when the alternative is a completely unknown quantity."

If Mr Lennon had any hopes of winning the support of the racing industry for his Betfair proposal it was certainly quashed by Mr Harper's closing remark - "We believe that licensing a betting exchange would be diametrically at odds with the long term interests of Tasmanian racing."
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