Betfair said it was delighted with the decision of the Tasmanian government to introduce legislation to allow the licensing of betting exchanges in the territory.
Betfair Australia and its partner Publishing and Broadcasting Ltd (PBL) welcomed Tasmanian Premier Paul Lennon’s announcement that his cabinet is to introduce ground-breaking legislation next week. If passed it will enable the Betfair and PBL joint venture to apply for a licence to create the first betting exchange to operate in Australia, be regulated in Australia, and pay taxes in Australia.
“Betfair applauds the way the government has dealt with our proposal,” said Edward Wray, co-founder of Betfair. “It has undertaken a rigorous and fair consultation process and seen through the scare tactics of our opponents. The government has assessed our proposal on its merits, which is all we ever asked.”
Wray thinks Betafair Australia will introduce competition into the wagering market and provide significant support for sport and racing in Australia.
James Packer, executive chairman of PBL, also applauded the decision: “Many people are scared to embrace change, but those who do inevitably reap the rewards. The Lennon government is to be congratulated.”
He added: “If the legislation is passed by the Tasmanian Parliament and Betfair Australia proceeds to obtain a licence, it will be a win-win situation. Tasmania will benefit, the racing industry will benefit, punters will benefit and Betfair Australia will benefit.”
source : egr magazine
