Betfair Shutting Down In Australia

Thursday July 3, 2014 : PARTIAL AUSTRIAN EXIT FOR BETFAIR.
 
UK betting exchange will shut down operations mid-July, but retain fixed-odds sports betting and online casino services.
 
The UK online gambling group Betfair, which has operated under an Austrian licence since 2005, has announced a partial withdrawal from the region, advising that it will shutter its betting exchange from July 14, but will continue to offer fixed-odds sports betting and online casino services in the region.
 
The decision was taken following a review of operations by Betfair's executive team, which has hewed to a group strategy focused on licensed European markets and has seen Betfair exit the Greek and German markets, savings tens of millions in operational costs.