{"id":5948,"date":"2012-03-30T08:41:14","date_gmt":"2012-03-30T07:41:14","guid":{"rendered":"http:\/\/www.betangel.com\/blog_wp\/?p=5948"},"modified":"2012-03-30T08:41:14","modified_gmt":"2012-03-30T07:41:14","slug":"betfair-australian-court-case","status":"publish","type":"post","link":"https:\/\/www.betfairtradingblog.com\/blog_wp\/2012\/03\/30\/betfair-australian-court-case\/","title":{"rendered":"Betfair loses key Australian court case"},"content":{"rendered":"

Racing officials in New South Wales are rejoicing after a years-long challenge to their race fields legislation was this morning thrown out by the High Court.<\/p>\n

Read more here – https:\/\/www.abc.net.au\/news\/2012-03-30\/racing-nsw-wins-court-battle\/3922762\/?site=melbourne<\/a><\/p>\n

Betfair Australasia chief executive Giles Thompson says he respects the court’s decision but says it will reduce the competitiveness of wagering on racing in NSW. “A turnover fee will place extreme pressure on our ability to continue to offer our customers what we believe is the best product in the market.”<\/p>\n

I not sure what direct impact this will have on Betfair as RoW revenue in Fy12 results was only \u00a316.4m and Betfair only own 50% of that venture. You also have ambiguity on how Australian revenue is generated. Do people betting on Australian markets outside that country contribute to the same pot?<\/p>\n

However, it’s not a positive move from an exchange perspective, especially for those in Australia.<\/p>\n

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Racing officials in New South Wales are rejoicing after a years-long challenge to their race fields legislation was this morning thrown out by the High Court. Read more here – https:\/\/www.abc.net.au\/news\/2012-03-30\/racing-nsw-wins-court-battle\/3922762\/?site=melbourne Betfair Australasia chief executive Giles Thompson says he respects the court’s decision but says it will reduce the competitiveness of wagering on racing in […]<\/p>\n

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