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Betfair Calls For End To Inter-State Ad Ban
Meanwhile Betfair's international director Edward Wray told thoroughbrednews.co.nz the restrictions on inter-state advertising for the betting exchange are "holding back the growth in revenue for the racing industry." And Betfair's Andrew Twaits (director of Corporate & Business Affairs in Australia) added: "The restrictions are designed to protect the local TAB operations. It means racing is losing millions in sponsorship, which is a direct cash injection into racing. If the competition was opened up, then it would mean that TABs, bookmakers & us would all be competing with our sponsorship dollars." (In the UK Betfair is a major sponsor of both flat & jumping races.) Wray emphasised "the real competitor to racing is betting on other sports" & noted "the challenge for racing is to ensure someone reaching an age where they can legally bet, went to racing first, instead of turning to sports betting. If racing stands still while other sports go forward, then racing goes backwards. Racing needs to adapt to the times."