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#1
23rd June 2013, 12:46 PM
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Trading revival?
The following notice up on BF's website -
http://community.betfair.com/austra...oughbred-racing Betfair is pleased to announce that it will remove the turnover charge from Victorian thoroughbred racing from 1 July 2013. This charge was introduced in 2012 after Racing Victoria (RV) moved to a turnover model of charging fees to Betfair which equated to more than 60% of the revenue Betfair derived from Victorian thoroughbred racing. RV recently announced that, from 1 July 2013, it would assess turnover for a betting exchange as ‘net customer winnings’ rather than the aggregate of all bets taken on the ‘backer’s side’ of the exchange. In making its announcement, RV described this as “a more appropriate measure of the volume of customer transactions.” Betfair is hopeful that other jurisdictions will amend their definition of turnover to ‘net customer winnings’ and we will be able to remove the turnover charge on their specific markets. For the time being, we encourage customers who utilise the trading aspects of the exchange to continue to do so on markets where Betfair is charged on revenue or net customer winnings. For more information about these markets, head to www.factsaboutfunding.com.au. Great news, makes a nice change  
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