|The chairman of the British Horseracing Board, Peter Savill, has called on the UK government to launch an independent commission of inquiry into betting exchanges. Savill said that many people are now making money from exchanges by betting on horses to lose, rather than win, races. Savill said only people with a bookmakers permit should be allowed to lay bets. All this is a familiar argument to betting exchanges such as Betfair and Betdaq, who face an ongoing backlash from established bookmakers in the UK and Australia. To insist on a bookmaker’s permit for everybody who lays a bet on the betting exchange would almost certainly be unworkable. |
Savill argued that having only licensed bookmakers would protect the horseracing industry’s integrity: 'Betting exchanges have, for the first time ever, suddenly and immediately enfranchised 30-million plus people in Britain to make money out of horses losing races,' Savill told Ananova.com. 'Previously there were only 3,791 people—the number of on and off-courses bookmakers with permits who had passed the ‘fit and proper person’ test—who were so enfranchised.'
Savill noted the Australian Government has set up a National Task Force to examine the issues that betting exchanges pose.