UK’s Betfair faces hostile entry into Australia
By maddy
The Australian based Tab Ltd and Tabcorp are increasing the heat for the Federal Government to prevent low-betting exchanges like the UK based Betfair to get into their territory. They are trying their best to prevent Betfair from getting a license to operate in Australia.

UK-based Betfair ( which is the trading name the Sporting Exchange Ltd operates Internet auction sites which allow punters to buy and sell bets at different odds. This could hurt the bottom-line of majors like Tab and Tabcorp who are averse to low-tax offshore betting exchanges. .

TABs are major players in economic contributions, pumping in about $1.25 billion a year into the economy, which includes paying $471 million a year in wagering taxes which are essential to the racing industry. According to TAB’s management every one per cent shift in market share from TABs to bookmakers losses racing $5.4 million a year.

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