Well it seems my betting turnover has just decreased by about 25%.

To quote the Betfair website..:

Important announcement concerning Victorian racing

Customers may be aware that legislation granting the peak racing bodies in Victoria, and the Victorian Racing Minister, the power to decide whether interstate and offshore wagering operators may publish Victorian "race fields", and on what terms, is scheduled to be become law on 29 November 2005.

Betfair has always said that it would apply for approval under this legislation if and when it becomes law. Following the passing of betting exchange legislation through the Tasmanian Parliament last week and in anticipation of the Victorian legislation coming into force this week, we have now submitted our applications for approval to Racing Victoria Limited ("RVL") and Harness Racing Victoria ("HRV").

In good faith, we have decided to remove our markets on Victorian thoroughbred and harness race fields until RVL and HRV have had a reasonable opportunity to consider our applications.

We expect that our applications for approval to publish Victorian thoroughbred and harness race fields will be treated in exactly the same way as the applications submitted by other interstate and overseas wagering operators. In exercising public powers, we expect that RVL and HRV will comply with the rules of procedural fairness in making their decisions and, as a result, we are confident that approval will be forthcoming in the very near future.

Given the comprehensive (and very public) debate that has occurred in relation to Betfair's efforts to obtain a licence in Australia, and the comprehensive applications that we have submitted, we believe that both RVL and HRV will be able to consider our applications within a very short timeframe.

We apologise to our customers for any inconvenience this action may cause and we will keep you informed of material developments.

Regards,
Betfair Horse Racing