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Posted 2.8.11 : Betfair's senior Australian exec says the best protection is a well-regulated environment with appropriate controls
The top man in online betting exchange Betfair's Australian operations, Andrew Twaits, flew into Hobart, Tasmania this week to inspect the company's new facilities, and voiced the opinion that the best way to protect vulnerable members of the public from online gambling was to regulate and control the pastime.
Speaking to The Mercury newspaper, Twaits said that unregulated markets in parts of the United States and the Indian subcontinent proved there could be issues with online betting, but with the right checks and balances it did not have to be that way.
"The best response to protect the most vulnerable members of the community is to have a well-regulated environment with the appropriate controls around harm minimisation," he said.
He also pointed out that Betfair has offered pre-commitment - a strategy favoured by the federal government - for some time.  "We were one of the first ... operators in the country to offer voluntary pre-commitment so you can predetermine how much you can deposit per day, per week or per month -- or lose per day, per week, per month," he said.
Betfair renewed its Tasmanian licence last year for a period of ten years. "We are established here now with 120 or so highly qualified, very loyal staff," he said, adding that his company paid more taxes than other betting agencies despite a recent and much-criticised reduction in the rate.

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Gambling News :

Yggdrasil Gaming Expanding - The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.

FanDuel and DraftKings Settle With NY Attorney General - Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.

Stan james Now Live With EPOS - The company switched to the Optima server less system across its entire estate in July after previously using Optima EPOS technology. The switch was completed early this (October) month and has already delivered noteworthy savings for the company.

Singapore Online Gambling Ban Begins - Singapore media reports indicated Tuesday that restricted online gambling services offered by the Singapore Pools have started online operations, whilst Singapore Turf Club will commence online betting activity on November 15.

Chinese police action against Crown Resorts Widens - In addition to the 18 Crown employees still held after their arrest last week, it now appears that the police questioned 87 Crown punters and junket organizers, detaining 10 of the latter.

Pennsylvania Online Gambling Updates - Pro-online gambling companies, including the Golden Nugget in New Jersey and Pokerstars, were quick to refute Schippers views based on their operational experience.

WSOPE In Czech Republic - World Series of Poker Europe 2017 has moved to King’s Casino Rozvadov (KCR) in the Czech Republic following a multi-year deal that will see KCR host numerous WSOP-branded events over the next several years.

Medialivecasino in Deal With Microgame - #Medialivecasino live dealer games have already gone live with Microgame joining content from other well-known providers NetEnt and Evolution Gaming.

BtoBet Partners with AfroBet - Following the launch in Kenya, Afrobet said it has high hopes for further expansion into East Africa, Tanzania, Uganda and Congo.

Pissed off Tabcorp shareholders - A significant number of Tabcorp shareholders, led by The Australian Shareholders Association, reportedly objected to proposed hikes in executive pay packages and were unhappy with the company plans for a merger with rival gambling group Tatts.

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