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Betfair Aussie Update
Andrew Twaits, boss of the Betfair online gambling group in Australia has stripped away the often deliberately misleading and confusing rumours about Betfair's preparedness to pay its way in the competitive Australian horse racing industry.
Betfair has refused to be intimidated by longer established interests in the sector, and has been prepared to fight for equal treatment in the courts on occasion. In often tense exchanges with Racing New South Wales, Twaits has been outspoken on the need for a level playing field and consistency in arriving at fair fee structures.
Addressing a press conference in Sydney, Twaits said he intended to be absolutely clear on his company's position regarding what fees it believed should be paid to support the Australian horse racing industry and keep it viable and appealing.
“There’s been some heated debate around the issue of industry funding with stakeholders quite naturally expressing concern about the future viability of the racing industry,” the Betfair exec said. “In all the hysteria, some of the facts have been lost or distorted, including the basis on which Betfair believes it should contribute to the funding of the racing industry.
“Let me be very clear on this. We have offered to pay the industry on gross revenue. That is, on the same basis as the TABs in New South Wales, Queensland and Victoria. Further, we think 20 percent is the right amount and we’ll pay at that rate if everyone else does the same.
“Racing New South Wales has set the fees for TABs at just 9.375 percent of their gross revenue.
"If Racing New South Wales sets its product fees at 20 percent of gross revenue for all wagering operators, we believe they would be likely to generate more than 10 million dollars a year in extra product fees for the industry. That is in addition to the undisputed element of the product fees Racing New South Wales is already charging interstate operators.
“While no one likes paying more tax, we’ve consistently said that 20 percent is the right amount for race fields.
"We’ll pay it if our competitors do the same.
"What we won’t do is pay tax at a rate that’s six times higher than our competitors. That’s a recipe for us going out of business.
“We’re determined to see the nation’s racing industry prosper and we’re prepared to pay our fair share to help achieve that result.”
Gambling News :
Live Dealer Now At Slotocash -
Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
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