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Betfair Decision Expected Thursday

The Tasmanian government is expected to announce its decision on the issuing of a licence to the UK betting exchange Betfair to operate in the island state.

Tasmanian Premier Paul Lennon is believed to announce that his government will licence Betfair and with the state’s history of being the first state to licence casinos in Australia the decision would not surprise.

If a licence is issued then it would trigger a joint venture between Betfair and the Packer PBL company for the Australian business. Media reports suggest that PBL have helped the negotiations with the Tasmanian government by agreeing to pump 25% of its profits back into the Tasmanian racing industry.

It is illegal for Australian online gamblers to use Betfair, but many do, and the Victorian Parliament recently passed legislation designed to stop Betfair offering bets on Victorian racing events, but the legislation was delayed while the Tasmanian decision was still under consultation.

Read the entire article at: Thoroughbred News 

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