Betfair Pty Limited, a 50-50 joint venture between the UK-based betting exchange and the Packer family\’s Publishing and Broadcasting Limited, was granted a license by the Tasmanian Gaming Commission.
The betting exchange will start operating on February 7 after a final test on technical and operating systems.
“It is a great day for the punter, who will have more choice, better value and more control over the punting process than ever before,” said Betfair co-founder Edward Wray.
“We believe that punters will appreciate having access to an exciting new 21st century product and that racing and sport throughout the country will also benefit,” added James Packer, Executive Chairman of PBL.
“It\’s wonderful news, it\’s news we\’ve been waiting for about two and a half years it\’s the culmination of a lot of hard work thorough investigation of Betfair\’s systems and processes by the Tasmanian Government and various departments and we\’re obviously very delighted,” commented Andrew Twaits, Director of Corporate Affairs at Betfair.
“Betfair brings with it unprecedented improvements in probity and integrity to racing, huge funding increased to the local racing industry and at least 150 new jobs for Tasmania,” said Tasmanian Racing Minister Jim Cox.
The Tasmanian Opposition said a cloud remains over the longer-term implications of licensing an online betting exchange.
Opposition racing spokeswoman Sue Napier added that there are growing concerns the state could be the target of an international racing boycott and indicated the non-attendance for the first time in 15 years of the Japanese racing officials at an important Tasmanian race meeting, as the evidence that Tasmania would become the pariah of international racing.
Calculators
