Following the latest attack on betting exchanges by David Harding, William Hill\’s CEO, Martin Cruddace, Betfair\’s legal director, spoke at the Westminster Forum defending exchange layers.
“Regarding the bookmakers\’ persistent call for \’non-recreational\’ layers on betting exchanges to be licensed, the Government, after detailed and independent analysis, came to the firm conclusion that to differentiate between backers and layers is arbitrary and would introduce unnecessary and unwise regulatory loopholes,” he said.
“The Government will rightly be aware that any attempt to licence thousands of exchange punters based on an arbitrary threshold will merely succeed in driving those customers offshore. Companies like ourselves need to be licensed. Our customers do not.”
“We are convinced that the licensing of an exchange customer adds nothing to the core aims of the Gambling Bill.”
“Bookmakers are principally concerned with protecting a 40-year monopoly, and offering punters narrow choice and poor value.”
“We make no apologies for gatecrashing an antiquated and stagnant 40-year monopoly. Our mission is to offer better choice and value to the customer. That is what we will continue to do.”
Calculators
