|Betfair has received more than its usual amount of attention recently. The UK Chancellor Gordon Brown is looking into the way that betting exchanges operate, while others have accused betting exchanges as facilitating match rigging and sports fixing.|
Betfair has argued that ‘Betfair’s opponents are commercial in background and hypocritical in nature,’ and that the claims of ‘the traditional bookmakers to uphold the integrity of sport are contradicted by their unwillingness over a 40 year period to offer information to the Jockey Club to assist the investigation of countless betting scandals.’
The main points that Betfair made to the Joint Scrunity Committee were;
-Racing scandals are not new and were not created by exchanges, but had come to public attention due to their openness.
-Licensing and taxing exchange users who bet that outcomes will not happen would achieve nothing.
-Bookmakers provide punters with the opportunity to bet. Licensing or taxing punters on exchanges who bet that outcomes do not happen is as absurd as taxing those who bet that outcomes do happen. Both are punters, neither is a bookmaker.