Ruling goes against Betfair Australia

[Bet Angel]

Bad news for Betfair in Australia: -

http://www.sportismadeforbetting.com/20 ... ation.html

[Bet Angel]

The view from Betfair's AUS CEO.

http://andrewtwaits.betfair.com.au/

[CaerMyrddin]

I regularly trade Australian races, does this mean that if Betfair is charged on turnover they won't be profitable and close the business in Australia?

[grigsy]

I won't even pretend to understand exactly what all this talk about margins and so on means but, please, someone just tell me things aren't as bad as they sound. If Betfair closes here in Oz, so does my trading career.

[Euler]

Too early to tell the full impact I guess. Betfair UK could still offer a market even if they are restricted in Australia so I don't see how the local authorities can win. My guess is a lot of liquidity is generated outside Australia already.

[CaerMyrddin]

My guess would be that too.