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the end for betfair?

West Australian Racing
joneseejonesee    715 posts
edited November -1 West Australian Racing
Victoria to implement an even bigger turnover charge than nsw!!
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Comments

  • GhurkaGhurka    254 posts
    they do now, ask RWWA
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  • joneseejonesee    715 posts
    Racing Victoria will move to turnover-based product fee model based on 1.5% of turnover, increasing to 2% during months October & November
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  • RodentRodent    7,474 posts
    Why don't betfair just split their markets in two (a lay market and a bet market on each event). They can charge commission on whichever markets you win on.
    Say you back an evem money shot for 100,000 and lay it back for 100,000. Currently, betfair would have to pay $3000 turnover tax even though they get nothing from the punter.
    If they split the market, the punter would pay between $2000 and $5000 depending on their commission rate.
    It would screw the traders but wouldn't make any difference to those who exclusively back or those that exclusively lay.
    Betfair could still present their markets in the same way. I know it's not perfect but something has to be better than nothing.
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  • joneseejonesee    715 posts
    I reckon that they will just leave Australian racing - They still lose money on the Aussie side of it all and it is now a shareholder company...
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  • goosegoose    1,638 posts
    Would be a shame I think they do bring something different to horse racing/punting that has been stuck in the same groove for a long time.
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  • joneseejonesee    715 posts
    One enjoyable aspect of this is that betfair are really struggling with a new premium charge they consider unfair....I think rodent and his family and many others might sympathize!
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  • tonytony    2,437 posts
    said:

    I reckon that they will just leave Australian racing - They still lose money on the Aussie side of it all and it is now a shareholder company...

    Betfair's CEO was interviewed on Melbourne radio this morning. He said that Australian racing was important to them and they would not be leaving.

    When pressed on what changes they would make he said they would be discussing the issues at a board meeting next week.
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  • joneseejonesee    715 posts
    He cannot say anything else until the decisions are made - but why would Australian racing be important to betfair especially if they lose money betting on it??
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  • tonytony    2,437 posts
    Remember the Australian operation is 50% owned by Packer.
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