Online casino inroads Down Under

8 Nov 2005

Western Australian Punters have the right model for betting. With the Tasmanian Government agreeing to give UK based online betting exchange, Betfair, a licence, there has been strong reaction from many racing industry analysts who fear the integrity of racing and the revenue streams to the racing industry are both under threat.

The internet betting model used in Western Australia addresses both these concerns with betting exchanges. Unlike punter to punter bet exchanges, the WA model has all bets between a punter and a licensed bookmaker. When a bookmaker stands a horse to lose, he is also wagering his integrity and his bookmaking licence, all of which are under constant scrutiny by the racing stewards.

Another criticism of online betting exchanges is that revenue from racing is not being put back fairly into the industry. Despite the PR from UK based Betfair about job creation and funding to the industry, the bottom line is that if some of the pie goes offshore, either the racing industry's share of the pie decreases, or punters must pay for the difference.

Related Headlines: