Speculation in the press suggested that while the online betting exchange has stressed in multiple occasions that it is keen to remain in the UK, it could move its business to Australia if Gordon Brown follows up with the intention to increase the tax paid by betting exchanges.
Tasmania is to introduce legislation which would allow the licensing of betting exchanges in the state. If the law receives the green light, it will enable the joint-venture between Betfair and Kerry Packer\’s PBL “to apply for a license to create the first betting exchange to operate in Australia, be regulated and pay taxes in Australia.”
Betfair would be ideally positioned to expand into the Australian market, but as under the terms of the deal, the Tasmanian Government will tax the international business at only 10 per cent, the betting exchange could easily divert its business to Australia.
Calculators
