Betfair to continue with Racing in Australia
Reports coming in that despite their loss in the recent high profile court case, Betfair appear to have made the decision to continue to offer racing to Australian customers. Here is a copy of the correspondence.
Dear *****,
Many of you will be aware of a recent decision by the High Court of Australia which upheld Racing NSW’s decision to impose a turnover based fee on wagering operators.
Due to the additional cost to Betfair associated with this decision and in order for us to continue to offer an Australian racing product to customers, it is necessary to implement an increase to prices on all Australasian racing markets.
From 1 May 2012, Betfair’s market base rate (‘MBR’) on all thoroughbred, harness and greyhound races in Australia and New Zealand will increase from 5% to 6.5%. Customers will still obtain Betfair Points on these markets in the ordinary manner and will remain eligible to receive a discount on the commission payable in accordance with their discount rate (the maximum discount rate remains 60%).
This price increase does not apply to any sport or overseas racing markets.
Betfair remains committed to providing our customers the best products and service in the market and despite this adjustment, Betfair’s prices will remain the best of any wagering operator on Australasian racing.
Customers seeking further information on this pricing alteration can call the Betfair Helpdesk on 1300 238 324 or email [email protected].
Category: Betfair, Horse Racing, Industry news
