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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 :
$400k Winner at Bodog Casino -
To win, you need to get a pair of Tens or better. Jerry K., however, got a much higher hand than the minimum; he pocketed $397,879 after landing the game’s best possible hand: a royal flush.
NBA : Warriors Win the West; NBA Finals Next -
The Golden State Warriors will play in their third-straight NBA Finals. They completed their sweep of the San Antonio Spurs Monday night, rolling to a 129-115 victory as 12-point road favourites; Golden State opened the season as a –250 chalk to win the Western Conference.
PartyPoker Rakebak -
Partypoker brings back rake back for players. All new ‘partypoker weekly Cashback’ launches.
NHL Odds: Lone Canadian Team Plays on Friday -
“Stingy” is a word that many have used to describe the Ottawa Senators in Round Three. The Sens know that they’re overmatched against a Pens lineup that features the likes of Sidney Crosby, Evengi Malkin and Phil Kessel, but with determined defensive play, Ottawa managed to frustrate the Penguins on their home ice, stealing one of two games.
NBA Odds: Will Cavaliers Be Rusty in Game 1? -
The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.
4 New Microgaming Releases in May 2017 -
Candy Dreams is a 720 ways to win, variable reel game. Players spin on a colorful reel area filled with candy treats, as they play towards enticing bonus triggers.
PKR Company Statement Update -
Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.
Microgaming Wins The Spark Award 2017 -
The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.
NHL Predators First Ever Conference Finals Appearance -
With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.
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