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.

 

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.”
 

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.

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."

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   

Wonder whether " Betfair Bookie " has been in touch with his "leading jockey manager " pal  lately.   

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..       

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

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  

Noticed they list Sandown as BPrk now

Have done for about two months now Larsy   

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

           

even funnier considering belmont park is WAs winter track     

     

In the words or Allhigh.......get FKD   

yeah mask,get fkd