Tasmania to revolutionize Australian racing by granting a license to Betfair

The Tasmanian Premier, Paul Lennon, said he will consult the state\’s racing industry before deciding whether to award the online betting exchange a license to operate in Australia.

Mr Lennon was quoted saying that providing Betfair with an Australian license could “bring great benefits to Tasmanian racing.”

“I have always believed that it is best to regulate these activities rather than put your head in the sand and believe somehow they will go away if you just ignore them,” he added. 

“Currently, people are playing on Betfair under a license granted outside Australia and therefore there is no revenue flowing to the industry in Australia. I believe there is a strong case to be made that big revenues could flow to the racing industry if people are sensible, sit down and look at ways in which we can demonstrate that the license can be appropriately regulated and the industry protected.”

Mr Lennon said that negotiations with Betfair had reached the stage where it was appropriate to consult with the Tasmanian racing industry.

“I believe that we can deal with all the concerns that have been raised by people in the racing industry but I want to consult with them about those matters before we go any further.”

“We need to explain what the proposal is and what the benefits are and that we could ensure through Tasmanian legislation, already enacted, that a gambling activity of this type can be regulated to the high standards expected in Tasmania.”

Rod Thirkell-Johnston, chairman and deputy chairman of Tasmania\’s three racing codes, was asked to attend an industry consultation meeting.

“We are very concerned about it. We don\’t look favourably at Betfair. The Premier has called a meeting for industry consultation on Thursday afternoon, but we are probably going to be told bad news,” he said. 

In separate news, Betfair\’s Australian partner, Kerry Packer, has secured a contract to develop a £200m casino complex in Wales through his joint venture with British casino operator Damian Aspinall. Mr Packer has also announced investments in Macao and Singapore.