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Betfair Begins Mainland Push

Monday, 10th July 2006

On-line betting exchange Betfair "is planning a push into other mainland states after being granted a licence to operate on Victorian racing," reported The Australian Financial Review. Racing Victoria acting chief executive Stephen Allanson said Betfair's go-ahead was "inevitable after its licensing in Tasmania in February" & noted: "We do not support a model that allows wagers to lose. The approval was made because of our obligations & responsibilities under Victorian legislation." (The Victorian Government passed legislation earlier this year requiring all wagering operators to seek approval from racing authorities or the government if they wished to publish Victorian race fields.) Racing NSW chief executive Peter V'Landys told the newspaper Victoria "had not consulted any other jurisdictions & integrity concerns remained"; he declared: "This is not a back-flip by Racing Victoria, it is a triple somersault!" And Australian Racing Board chairman Andrew Ramsden said the Victoria Government's tightening of integrity measures "can at best be ameliorating influences". But Betfair corporate affairs director Andrew Twaits retorted: "Documents signed on Friday morning enable Victoria racing unprecedented levels of access to betting records, customer details & information that is important to maintain integrity."

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