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Online westie

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O.P. « 2007-Oct-29, 09:06 AM »
Betfair may get a toehold into mainland Australia via NSW.  Morris Iemma has requested his Racing Minister to hold discussions with the betting exchange.   

Online westie

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« 2007-Oct-30, 01:17 PM Reply #1 »
Racing NSW
 
Racing NSW Chief Executive, Peter V’landys, on Monday said that any widespread extension of Betfair’s operations into New South Wales could be financially devastating for the State’s racing industry which was already suffering much hardship from the effects of the recent Equine Influenza outbreak.

In a statement V'landys expressed surprise that the NSW Government was considering a proposal to license the internet wagering company Betfair in NSW. There has been no consultation with the racing industry on such a proposal.

“We have, however, put forward a submission to the Government on a process for wagering operators to utilise NSW racing information in accordance with the provisions of the Race Field Legislation enacted by the Government in October 2006.

“In terms of that submission all wagering operators utilising NSW race fields to conduct their businesses would be required to pay the same licence fee.

“Our understanding is that Betfair has lobbied the Government that it should not be required to pay the fee set by the industry.

“It is not the Government’s role to be negotiating with Betfair on the use of the racing industry’s product and Betfair should not be given any favourable treatment.”

Mr V’landys said that proposals previously advanced by Betfair under which it would pay a fee based on gross profit would return very little to the racing industry.

“Unlike the totalisator system, Betfair conducts a low margin operation which would provide minimal returns to the racing industry.

“Unfortunately Betfair continues to ‘spin’ the returns it would make to the industry with confusing statements over its proposal to pay a licence fee based on gross profit rather than one on turnover.

“The fact is that under its proposals, Betfair would pay 24 cents for every $100 bet compared to $1 by bookmakers and $4.50 by the totalisator.

“Therefore turnover would need to increase from the existing $4.5 billion per annum to something like $80 billion – that is, of course, totally unrealistic.”

Mr V’landys added that these figures only apply to the racing industry and they would have to increase substantially if the Government expected to preserve the tax revenue it currently receives from wagering.

He said that the Government is exposing the State to losses of 10’s of millions of dollars which would otherwise go towards essential Government services such as health and education.

“Betfair’s Andrew Twaites admitted on ABC radio this morning that punters only have a limited amount to bet with,” Mr V’landys said.

“Therefore it could be expected that the majority of money invested with Betfair would be as a result of cannibalisation of existing turnover.

“Betfair is seeking to profit at the expense of the racing industry and its many thousands of participants who derive their livelihoods from the industry.”

Mr V’landys also said that even if appropriate financial arrangements were agreed upon, betting exchange operations may still pose very serious integrity concerns for the industry.

“The Board of Racing NSW has still not determined its position on these issues and we would need to be convinced that the integrity of racing and wagering operations was not placed at risk.”

He added that most racing jurisdictions around the world had banned betting exchange operations because of similar concerns and that previous inquiries in Australia had recommended similar actions.

 

Online westie

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« 2008-May-27, 11:03 PM Reply #2 »
Betfair betting exchange is moving closer to gaining permission to operate throughout Europe. The heavily controlled European markets have managed to keep Betfair out but now the exchange has apparently won a key battle with the Dutch Council of State deciding to refer the matter to the European Court of Justice.

Online westie

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« 2008-Aug-21, 02:26 PM Reply #3 »
Betfair
 
Betfair Australia on Wednesday announced the appointment of Andrew Twaits as its new Chief Executive Officer, commencing on 16 October. This follows the announcement by Crown Limited earlier today that Anthony Klok, Betfair’s Chief Executive Officer since December 2006, will be joining Crown in mid-October as their new International Business Development Director.

Chairman and co-founder of Betfair, Edward Wray, said; “Anthony moved across to Betfair on secondment from PBL in 2006 to guide the initial stages of Betfair’s establishment in the Australian wagering landscape. He will leave his position as CEO with the knowledge that Betfair is well placed to achieve its objectives in the Australian market. While we’ll be sad to see Anthony go, we’re delighted that he will retain a role in the business by staying on the company’s Board.”

Andrew Twaits has been Betfair’s Director of Corporate and Business Affairs in Australia since April 2005. He is a former lawyer and was a General Manager at Cricket Australia.

Mr Wray added; “Andrew has been crucial to the company’s continued growth in Australia over the last four years and is the natural successor to Anthony. He has worked alongside Anthony for the last two years and was the obvious choice to guide Betfair through the next stage of its development.

“The Australian wagering market is entering an exciting period and the Board is very confident in the ability of Andrew and the rest of the team to help Betfair realize its potential in this market.”
 

Online westie

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« 2008-Nov-17, 11:20 PM Reply #4 »
Victorian Off Course Agents Association
 
The Victorian Off Course Agents Association (VOCAA) said in a statement on Monday that it wished to express its disappointment with the announcement last week of a sponsorship deal between Betfair and the Melbourne Racing Club.

As proprietors of Victoria’s network of local TAB Agencies VOCAA feels that the decades of effort in supporting all codes of Wagering and their participating clubs has been undermined by this self centered decision. Its ninety four member agents and their hundreds of staff fear their small businesses may eventually be lost through harmful disunity within the racing industry.

The Victorian Racing Industry rightfully can boast that it provides the best racing product in Australia and that position is, in no small part, due to the strength of the joint venture between the racing industry and Tabcorp.

Comments attributed to Melbourne Racing Club CEO Warran Brown saying, “We don’t see Betfair as being in opposition to Tabcorp” are naive and show a distinct lack of understanding of the industry.

VOCAA acknowledges the rights of an individual racing club to obtain sponsorships outside the parameters of the joint venture. VOCAA does however question the wisdom of potentially jeopardising the far greater benefits of the massive levels of funding that is provided constantly through Tabcorp. Currently Tabcorp contributes more than one hundred times the amount of funding to race clubs than all corporate bookmakers combined.

VOCAA sees that a racing industry without a major all round contributor such as Tabcorp, if that was to happen would mean the loss of the vital agency network that connects the race clubs with their bread and butter clients.

Any introduction of new funding partners must be on an equal basis to promote true and fair competition. That is the level of takeout from betting turnover to be contributed to the racing industry by Tabcorp, Corporate Bookmakers and Betting Exchanges must be consistent for all parties.

Online westie

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« 2008-Nov-17, 11:24 PM Reply #5 »
Sport 927 reported on Monday Betfair’s CEO Andrew Twaites was wishing to extend its branding reach now that the industry advertising restrictions have been relaxed. It wants to develop its signage visibility on race tracks in Victoria, and the rest of Australia, after the first day of its sponsorship with the Melbourne Racing Club at the latter’s Sandown Classic meeting at Sandown, now branded Betfair Park, last Saturday.

Online westie

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« 2008-Nov-17, 11:26 PM Reply #6 »
Can't move into NSW that's Tabcorp's domain for another two years.

Online westie

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« 2008-Dec-04, 08:26 AM Reply #7 »
From racecourses in Australia to naming rights for races in England.

Betfair
 
English racecourse Ascot on Wednesday announced Betfair as the new sponsor of the King George VI and Queen Elizabeth Stakes, which will be run for £1 million for the first time in 2009 (£850,000 in 2008).

The sponsorship will run initially for five years as the centerpiece of a wide-reaching commercial partnership between the two parties.

‘The King George VI & Queen Elizabeth Stakes (sponsored by Betfair)’ is the headline agreement in a substantial seven-figure deal over five years that Ascot and Betfair believe will develop into a wider commercial relationship. Ascot’s late July meeting will now be presented as ‘Betfair Weekend featuring The King George VI and Queen Elizabeth Stakes’.

Ascot Chief Executive, Charles Barnett, said: “We are delighted to be partnering with Betfair in this exciting agreement primarily, of course, their sponsorship of our premier race, the King George VI & Queen Elizabeth Stakes, the highlight of what will now be Betfair Weekend at Ascot. The King George will be worth £1,000,000 for the first time in 2009, something which we have aspired to for some time and are now able to deliver as a direct result of this partnership.”

Elaborating on the additional strands to the new association, Barnett explained:

“Starting this coming February, Betfair will also be sponsoring our premier jumps race, the Betfair Ascot Chase, and there will be annual branding around the site including stalls branding on the Friday of Royal Ascot. These additional strands to the partnership are just two illustrations of why this agreement is significantly more than traditional race sponsorship.”

The Betfair Ascot Chase, run this year as the Commercial First Ascot Chase and won by Kauto Star, will complement the Betfair Chase, run at Haydock in November, and is likely to form part of the Betfair Million bonus in future seasons.

Betfair’s Director of Horseracing, Stephen Burn, looked to the future and further commercial benefits for both the exchange and Ascot: “We are delighted to have the opportunity to work with Ascot on this ground-breaking agreement, especially as it will take us up to and beyond the course's historic tercentenary in 2011,” he said.

“The King George VI and Queen Elizabeth Stakes is one of the world's great races and, while its sponsorship is the cornerstone of this initiative, there are considerable further elements to our partnership as Charles alludes to and we are looking forward to working with Ascot, and its other partners, to find new ways of integrating our cutting-edge technology. We also have the opportunity to create a ‘Betfair Lounge’ on site at Ascot.

“Across the world, Betfair is working with racing industries to help attract new customers and revenue streams to the sport. We are confident that this Ascot partnership will be a blueprint for how racecourses and Betfair can work together for the benefit of each other and our customers."

Offline mugwump

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« 2009-Mar-09, 03:01 PM Reply #8 »
I have noticed that when a fave blows out on Betfair it generally gets rolled. There is the odd exception, but I reckon the smart money is on Betfair.

Offline OldLarsy

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« 2009-Mar-09, 03:05 PM Reply #9 »
I have noticed that when a fave blows out on Betfair it generally gets rolled. There is the odd exception, but I reckon the smart money is on Betfair.

Without a  doubt, it's the best form guide on the planet   :biggrin:

Offline Magiciansmask

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« 2009-Mar-09, 03:08 PM Reply #10 »
I have noticed that when a fave blows out on Betfair it generally gets rolled. There is the odd exception, but I reckon the smart money is on Betfair.


Saw a dog on betfair blow from $2.30 out to $6.00 in 5 minutes.   Started $2.70 on the tote nd ran a shocker.  No stewards enquiry or anything..    :lol:

Offline Max Manewer

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« 2009-Mar-09, 03:44 PM Reply #11 »
Wonder whether " Betfair Bookie " has been in touch with his "leading jockey manager " pal  lately.   :chin:

Offline Da Judge

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« 2009-Mar-09, 03:47 PM Reply #12 »
Wonder whether " Betfair Bookie " has been in touch with his "leading jockey manager " pal  lately.   :chin:


  :lol:   :lol:   :lol:

Offline OldLarsy

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« 2009-Mar-09, 03:49 PM Reply #13 »

Saw a dog on betfair blow from $2.30 out to $6.00 in 5 minutes.   Started $2.70 on the tote nd ran a shocker.  No stewards enquiry or anything..     :lol:  

Since when is there any activity on a dog race 5 minutes before the start on BF?   :lol:   :lol:   :lol:

Offline Da Judge

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« 2009-Mar-09, 03:50 PM Reply #14 »
Since when is there any activity on a dog race 5 minutes before the start on BF?    :lol:     :lol:     :lol:  



  :lol:   :lol:   :lol:

Offline Magiciansmask

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« 2009-Mar-09, 03:52 PM Reply #15 »
Was at The Meadows nd i  was as shocked as u r. Someone wanted to lay for heaps nd someone was taking it all.  Was lovely to watch  :lol:

Offline OldLarsy

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« 2009-Mar-11, 03:56 PM Reply #16 »
Noticed they list Sandown as BPrk now

Offline BurntToast

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« 2009-Mar-11, 04:10 PM Reply #17 »
Noticed they list Sandown as BPrk now

Have done for about two months now Larsy   :lol:

Offline OldLarsy

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« 2009-Mar-11, 04:13 PM Reply #18 »
Have done for about two months now Larsy    :lol:  

Fair dink, I haven't noticed before, or maybe I thought I was betting on Belmont Park   :lol:

Offline Da Judge

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« 2009-Mar-11, 04:14 PM Reply #19 »
Fair dink, I haven't noticed before, or maybe I thought I was betting on Belmont Park    :lol:  



  :lol:   :lol:   :lol:   :lol:   :lol:   :lol:

Offline Da Judge

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« 2009-Mar-11, 04:15 PM Reply #20 »
even funnier considering belmont park is WAs winter track   :lol:

Offline Magiciansmask

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« 2009-Mar-11, 04:16 PM Reply #21 »
even funnier considering belmont park is WAs winter track    :lol:  



  :lol:   :lol:   :lol:

Offline OldLarsy

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« 2009-Mar-11, 04:20 PM Reply #22 »
In the words or Allhigh.......get FKD   emthup

Offline Da Judge

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« 2009-Mar-11, 04:27 PM Reply #23 »
In the words or Allhigh.......get FKD   emthup

yeah mask,get fkd   :lol:   :lol:   :lol:

Offline Magiciansmask

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« 2009-Mar-11, 04:44 PM Reply #24 »
yeah mask,get fkd    :lol:     :lol:     :lol:  


I'll tell Mrs. Judge to tie you up and introduce you to.. Love----THE HARD WAY!!!!  :lol:


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