While Australian racing authorities said licensing a betting exchange in Australia would be disastrous for the industry, their British counterparts, the Jockey Club and the British Horseracing Board, have endorsed internet betting exchanges as viable punting alternatives.
They believe betting exchanges such as Betfair can operate effectively in Australia as long as they are regulated and pay their way.
“People will have to accept the exchanges are there. You\’re better off regulating them, legislating for them and charging them appropriately rather than pretending they don\’t exist,” said BHB spokesman Alan Delmonte.
Australian Racing Board chief executive Andrew Harding has raised concerns about corruption, calling exchanges a “blight”.
“Betfair would offer a very attractive financial package to Tasmania because every other state and territory government had closed the door on them,” he added.
Owen Byrne from the Jockey Club urged Australian authorities to work with the exchanges which “have helped fight corruption through their internet audits which track all bets and can identify punters.”
“We\’ve gained from working with the exchanges, the policing of the sport has been much better.”
Calculators
