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Aussie
Rules
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Media Release
TAB publishes further false statement Press release was issued at 0000 GMT, 28 April 2004 TAB Limited continues to offend and deceive as its campaign to see Betfair banned from operating in Australia continues. Its subtle shift from attacking ‘internet betting exchanges’ to ‘foreign internet betting exchanges’ also serves to reveal its real agenda: anything works, so long as we can run it. Alleging that race-fixing has increased since betting exchanges were developed is the same as saying that speeding on roads is more prevalent since speed cameras were introduced, by virtue of the fact that the detection rate of speeding cars is now higher. It is naïve, if not ignorant. Betting exchanges provide maximum transparency in sports and horserace betting. Where corruption exists – and history suggests strongly that it has long existed wherever money and sport mix – it is more likely to be unearthed thanks to betting exchanges than it is through any other wagering platform. On an exchange, every transaction is logged, and is traceable to an end user. Every detail of every bet is recorded and kept indefinitely. You cannot seek to profit on a betting exchange through rigging a race without leaving indelible fingerprints. This is why a committee of British MPs and peers recently reported to the UK government that “the audit trail produced by betting exchanges is far superior to that produced by ordinary bookmakers, as acknowledged by the Chief Executive of the Association of British Bookmakers.” Betfair’s Memorandum of Understanding with sporting bodies allows it to give them full access to this unprecedented betting information. That Memorandum is available today, without any strings attached, to Australian racing, as it has been since the first day of Betfair’s operation in Australia. Alleged corruption in horseracing is not a betting exchange issue. If it exists, it is a racing issue. It is not one to which exchanges bring new problems, but it is one to which they bring powerful solutions. In seeking to deflect attention away from the exchange model as a whole to foreign exchanges in particular, TAB acknowledges this fact. It is time for it also to acknowledge, as the well-known bookmaker Victor Chandler already has, that “the only problem with betting exchanges is that I didn’t think of them first”. Ends Notes to Editors: 1. TAB’s advert ‘UK exports race-fixing to Australia?’ is the fourth in a series being run in the Australian and the Australian Financial Review. It is part of a campaign to persuade the Federal Government to ban betting exchanges, which threaten the monopoly status of the TAB. 2. The Joint Scrutiny Committee delivered its report on the UK government’s draft Gambling Bill on 7th April 2004. 3. The Memorandum of Understanding signed with the UK Jockey Club, as well as with the ICC, the ATP, the FA, and other significant sporting bodies, is legally required before Betfair can give up information about its clients’ behaviour, under the terms of the UK’s Data Protection Act and Australia’s Privacy Act. Once signed with any sporting body, it brings into play a waiver signed by all of Betfair’s clients, and allows information to be passed. Betfair has repeatedly offered this facility to Australian racing authorities, making clear that signing it does not in any way constitute an endorsement of Betfair, nor tie either party to any form of commercial agreement. It is purely and simply a tool to help the fight against corruption. TAB hypocrisy continues Press release issued at 2.00am GMT, Wednesday 21st April 2004 The second in the series of TAB’s press advertisements against betting exchanges, published today, reveals further the hypocrisy of TAB Ltd. TAB claims that problem gambling is set to explode. TAB’s real concern is that it will lose its monopoly on the wagering market, as some of its business is displaced to a more competitive operator which offers consumers what they want. TAB’s argument, as detailed below, is as fallacious as its agenda is transparent. Betfair is approaching the fourth anniversary of its launch in the United Kingdom. There is no evidence whatsoever, nor has there been any suggestion, that it has increased problem gambling in that time. What it has done is offer consumers choice, value, and control. Betfair does not believe it is the answer for all punters, but it does believe that consumers deserve choice and a fair go. TAB aims deny them both. It would have people believe that it seeks to limit wagering opportunities in order to achieve that aim. Notes: 1. TAB first raised the issue of problem gambling after it became apparent that its arguments against Betfair from a funding standpoint were falling on deaf ears. Previously, it had claimed that Betfair could not provide tax and racing revenues to match its own, owing to its business model. Subsequently, it claimed that a high-turnover, low-margin model could of course hit the targets, but only by resulting in a substantial increase in turnover. 2. TAB’s turnover argument is, in any case, erroneous, and demonstrates a complete lack of knowledge and/or understanding of the exchange model. A punter who takes $100 from an ATM can only turn over $100 on TAB. He can, however, turn over an unlimited amount of money on an exchange, providing that each new bet keeps his total exposure under $100. For example, a punter who backs a horse at 10/1 can lay that bet off at 5/1. This reduces his exposure to zero, and guarantees him a profit – while doubling his turnover. 3. In 2003, Betfair received the Queen’s Award for Enterprise in the Innovation category. Betfair uses technology to support the three key pillars on which gambling legislation in Britain are based. These are protecting the vulnerable, keeping crime out of sport, and ensuring fairness to the punter. 4. In marked contrast to TAB’s suggestions, Betfair is breaking new ground for wagering organisations in dealing with problem gambling. Betfair works closely with GamCare, the UK’s leading problem gambling charity, to lead that drive. TAB reveals clear ignorance of exchanges Press release issued at 2.35am
GMT, 23rd April 2004
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