Betfair loses race fields legislation case

[hhh]

Thought these articles might be of interest to any followers of this thread...

John Schreck - former AJC chief steward
New breed of punters threatening the sport of kings
http://www.watoday.com.au/sport/horsera ... 2sh9d.html

Pretty limp first article, considering if he did get a job with betfair from the outset would he have the same views as now?

Betfair Australia CEO Giles Thompson responds
Question of integrity answered by player
http://www.watoday.com.au/sport/horsera ... 2sw8z.html

Nice chip in from Victoria.

[Euler]

It's the age old problem of people fearing change and wanting to keep the status quo whatever it takes. The only thing certain about life is uncertainty, but thank fully time has shown that it's generally fort he better longer term. Else we would still be living in caves and wondering where all the woolly mammoths have gone?

[to75ne]

im going through another bout of insomnia and if i have a bad one tonight, i intend to pass the time trading the Australian horse race markets.

could someone confirm that the following territories/tracks are now not subject to the turn over charge. thanks.

Victoria
Ararat Bairnsdale Ballarat Benalla Bendigo Camperdown
Casterton Caulfield Colac Cranbourne Donald Echuca
Edenhope Flemington Geelong Hamilton Hanging Rock
Horsham Kilmore Kyneton Mildura Moe Moonee Valley
Mornington Murtoa Pakenham Sale Sandown Seymour
St Arnaud Stawell Stony Creek Swanhill Tatura
Terang Traralgon Wangaratta Warracknabeal
Warrnambool Werribee Wodonga Yarraglen

Queensland
Beaudesert Cairns Dalby Doomben Eagle Farm Esk Gatton
Gold Coast Ipswich Kilcoy Mackay Rockhampton
Sunshine Coast Toowoomba Townsville

Northern Territory
Alice Springs Darwin

Tasmania
Devonport Elwick Mowbray

[hhh]

Hey to75ne,

Jump on this...
http://betfair.com.au/turnovercharge/states_tracks.html

"View all Tracks" for each state then sort & delete in Guardian as required.

I have seen a few mentions to betfair contacting some of the bigger volume players to jump back onto vic/qld/nt races, so please - get amongst it!

Hopefully nsw/sa/wa/act change their pricing model asap so that us Antipodeans dont have to put in a feature request to Betangel to filter turnover charge markets

[to75ne]

hhh thanks very much

[gazuty]

Hey to75ne,

Jump on this...
http://betfair.com.au/turnovercharge/states_tracks.html



I have seen a few mentions to betfair contacting some of the bigger volume players to jump back onto vic/qld/nt races, so please - get amongst it!

Confirmed I got a call.

But since that time family functions have prevented me active.

[hhh]

Racing NSW records $4.5m loss

Racing NSW has recorded an after-tax loss of about $4.5 million for the 2013 financial year after a large increase in prizemoney.

Chairman John Messara said in the annual report, published in late October, that Racing NSW had funded a $29 million increase in prizemoney since July 2012.

Full Article:
http://www.afr.com/p/lifestyle/sport/ra ... r3x5ZoLihN

[jmcole]

Does anyone know when Betfair started offering a fixed odds service on Australian horse racing?

I prefer the old website, but ended up on their new site by mistake and noticed the option to place fixed odds as well as best of 4 bets. I was only previously aware of their best tote option.

[hhh]

Racing Victoria announces revised race field fees to be applied from 1 July, 2014

Following a review of its Race Fields Policy, RV has determined that an enhanced model will be adopted which differentiates between traditional pari-mutuel (tote) betting and non pari-mutuel betting, such as fixed odds, exchange and derivative betting.

http://www.racingvictoria.net.au/news/r ... olicy.aspx

... bugger.

[Euler]

According to http://www.factsaboutfunding.com.au/ they currently do it on net winnings so is this a return to the old model, or can Betfair shift to GPT?

[hhh]

3% of turnover for GP1's for Victoria. They are still running a blended model for greater amounts of turnover% vs revenue generated from what I understand.

Queensland racing & NSW are expected to up their race field fees too...

http://www.smh.com.au/sport/horseracing ... zrehd.html

Am sure Betfair will notify us of new tax arrangements

[hhh]

Vlandy's interview on Big Sports Breakfast, bit of scaremongering on the Championships carnival next year being on the ropes.

http://media1.sky.apac.kitd.com/POD/1/61RBJS.mp3

Also a glimmer of hope for Aus traders - race field fees for NSW are at maximum. NSW Government needs to come to the party and review takeout on NSW racing (more inline with other states)

[Rusty Saint]

In my opinion its pretty simple, they can't tax people on the money they win gambling because essentially if they did you could claim your losses as a tax deduction. However, introduce a turnover tax and then we are paying tax on everything we win and everything we lose!!