|Online betting exchange and gambling group Betfair has announced that it has signed an agency deal with the Tasmanian Tote to distribute the totaliser’s betting products around the world.|
“We'll be distributing Tote Tasmania products to our customers worldwide,” said Andrew Thwaits, Business Director for Betfair.
“What that means is that Betfair customers will be able to bet directly on Tote Tasmania products through their Betfair accounts. 'There will be a single log-in, a single interface and a single account so no transferring of funds. The convenience factor that we're announcing today is compelling.'
The deal furthers Betfair’s Australian expansion plans with Thwaits revealing that Betfair now has more than 1.1 million active customers globally. The firm will also receive a share of Tote Tasmania’s net revenues for acting as an agent.
'We are ideally placed, we think, to take Australian racing to the world,'' said Thwaits.
'For every dollar that is bet through the Tote Tasmania interface on Betfair, money is returned to both the Tasmanian industry and via the participation fee that Tote Tasmania pays to Tabcorp for being a part of the SuperTAB pool, and a share of that revenue goes directly to Tabcorp as well.'
Thwaites said the agreement would not stop Betfair from entering into similar arrangements with other pools including Tabcorp in New South Wales and Tatts Group and added that the company expects to launch its new service towards the end of May.