According to Massimiliano Bancora, Betfair Country Manager for Italy, the betting exchange is taking in serious consideration the opportunities offered by the upcoming liberalization of the Italian betting market decided with the Bersani Decree.
Bancora confirmed that Betfair\’s priority is to work with the Italian regulator AAMS to legally introduce the betting exchange product on the Italian market. But in the coming weeks, Betfair will also consider whether to participate to the auction for the allotment of the traditional games licenses.
Among the other companies which have already confirmed their participation to the auction there are some of the major European betting operators, such as William Hill, Coral Eurobet, Ladbrokes, Sportingbet and Bwin, but also many internet betting operators with strong ties with the Italian market, including Betshop, Betway, Globet, Goldbet, ParadiseBet and Starprice.
“Good job Italy, the decision to open the Italian gaming market to foreign operators was the right one,” commented Clive Hawkswood, Presidente of the Remote Gambling Association, who now hopes the Bersani Decree will have a positive effect on the blockade of internet gaming sites.
Elsewhere, Horse Racing Ireland confirmed Betfair has agreed to pay 10% of its gross profit from Irish horse racing directly to the HRI. The betting exchange will also make a backdated payment covering the three years from 2003 to 2006.
“This agreement confirms the increasing popularity of the Irish racing product to a global audience and will ensure that Irish racing will now receive a return from this betting activity where previously there was none,” said Brian Kavanagh, Chief Executive of HRI.
“We’re pleased to have reached an agreement with HRI. Ireland is home to some of the world’s finest racehorses, both flat and jumps,” added David Yu, Chief Executive of Betfair.
The Irish Turf Club, which is responsible for regulating Irish racing, has agreed to enter into a memorandum of understanding with Betfair. The MoU will allow the racing regulatory body to access a full audit trail of all Betfair\’s transactions on Irish racing.
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