BETfair Fights Back

11/03/2008		BETfair Fights Back
Home History Games News Dictionary		The Australian media mogul Thoroughbred News and Racing and Sports reported earlier this week that Betfair has made moves to fight against the decision made in the Federal Courts that all betting operators both on land and online will be liable for a 1.5% income fee in exchange for the privilege of covering all NSW (New South Wales) pure-bred and harness races. The action originated from the powers of Racing NSW and Harness Racing NSW in the Federal Court of Australia, and was filed under the section 92 of the Constitution, and was based in accusation as a prejudiced conduct against interstate trade and business. It should be noted that BETfair has been here before, and managed to win their case against the Western Australian government in 2007 in another case, also brought under the jurisdiction of section 92. It is not the fee that BETfair says they have a problem with, it’s the amount. “We’re pleased to pay a cost to the NSW racing business on all our wagering income but the income fee inflicted by Racing NSW and Harness Racing NSW is very unfair,” stated BETfair’s director for corporate and business affairs, Andrew Twaits. He also acts as the Australian CEO delegate for the company. BETfair, based out of Tasmania, is permitted and licensed to receive bets from players all over Australia. Currently, 35% of their total profits are paid back to Tasmania in taxes and fees. All three of the racing codes in NSW have given endorsement to BETfair, and BETfair has assured that all necessary fees will be paid to Racing NSW and Harness Racing NSW according to what is mandated by the courts in the upcoming proceedings.

11/03/2008

BETfair Fights Back

The Australian media mogul Thoroughbred News and Racing and Sports reported earlier this week that Betfair has made moves to fight against the decision made in the Federal Courts that all betting operators both on land and online will be liable for a 1.5% income fee in exchange for the privilege of covering all NSW (New South Wales) pure-bred and harness races. The action originated from the powers of Racing NSW and Harness Racing NSW in the Federal Court of Australia, and was filed under the section 92 of the Constitution, and was based in accusation as a prejudiced conduct against interstate trade and business.

It should be noted that BETfair has been here before, and managed to win their case against the Western Australian government in 2007 in another case, also brought under the jurisdiction of section 92. It is not the fee that BETfair says they have a problem with, it’s the amount. “We’re pleased to pay a cost to the NSW racing business on all our wagering income but the income fee inflicted by Racing NSW and Harness Racing NSW is very unfair,” stated BETfair’s director for corporate and business affairs, Andrew Twaits. He also acts as the Australian CEO delegate for the company.

BETfair, based out of Tasmania, is permitted and licensed to receive bets from players all over Australia. Currently, 35% of their total profits are paid back to Tasmania in taxes and fees. All three of the racing codes in NSW have given endorsement to BETfair, and BETfair has assured that all necessary fees will be paid to Racing NSW and Harness Racing NSW according to what is mandated by the courts in the upcoming proceedings.