New Zealand Thoroughbred Racing deputy CEO Simon Cooper witnessed the remarkable rise of Betfair in the UK and sees the inevitability.
“When Betfair first operated on the Oaks in Britain in 2001 the turnover was £3500 ($10,400). They recently sold 23 per cent of the business for £350 million.”
Integrity issues have been thoroughly addressed and the paranoia that Betfair eats into traditional local betting markets has shown to be a fallacy.
“Look, it\’s coming and, while there is an initial downturn in betting overall through the usual channels, that eases off and the result is that it\’s quickly back to business as usual. The South Africans lambasted Betfair to start with, now they are happy to take a fee,” commented an Australian newspaper.
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