22 February, 2009

Betfair Announces 10-year commitment to Tasmania

Another milestone in the Betfair Australia story was reached today as the company announced an in-principle agreement with the Tasmanian Government to keep its operations there for a further 10 years.

“Today’s announcement is an important step towards providing long-term certainty for Betfair in Australia and its Tasmanian workforce,” said Betfair Australia’s CEO, Andrew Twaits.

“We were under a lot of pressure to prove ourselves as a company here in Australia, and we’ve well and truly done that. In the last four years, we’ve helped to reshape the wagering landscape in areas of integrity, harm minimisation and industry funding for racing and sports. Importantly, we’ve also encouraged a better deal for punters.

“This agreement is a big step forward for the future of racing, not only in Tasmania, but right across Australia. Our contribution to both racing and sports has been significant and we look forward to continuing our commitment right across the country.”

The new agreement is subject to various conditions including approval by the Tasmanian Gaming Commission and legislation being passed by the new parliament to reduce the tax on betting exchanges to 5% of gross revenue.

Betfair Australia commenced operations at its Hobart headquarters in February 2006 after it became the first betting exchange to be licensed in Australia. Today the business employs 135 staff, matches more than 1 million bets a day and has 135,000 Australian and New Zealand customers.

The company has also contributed more than $5m in product fees directly to racing and sports as well as nearly $8m in sponsorships. In Tasmania Betfair has contributed in excess of $20m to the local economy.

30 December, 2009

PUNTERS FIND LOVE AHEAD OF THE MAGIC MILLIONS

Hawkes colt meets with good support for three-year-old race

The Team Hawkes trained Love Conquers All has become the Betfair favourite for next month’s Magic Millions three-year-old trophy on the Gold Coast.

The Mossman colt was matched at a top price of $15.50 on the exchange, but is into $5.80 top pick after disposing of a quality three-year-old field in Saturday’s Linesman Handicap over 1200 metres at Randwick.

Betfair’s Mathew Thompson said Love Conquers All is fast becoming a favourite galloper among punters on Betfair.

“He was backed in from $5.10 to $3.80 before claiming Saturday’s race and the punters have come again believing Saturday’s race could prove a useful form reference for the carnival. He did finish less than three lengths behind Headway in the group one Coolmore at Flemington on Derby Day, so he’s a horse going places.”

Thompson said Graceful Anna and Shoot Out, who ran the quinella in Saturday’s Vo Rogue Plate at Doomben, have also shortened in betting.

“Graceful Anna has been $15 top matched price into $7.20 and Shoot Out has been $9.10 into $6.40. Choistar, who also ran well at Doomben, has been $18 into $14 while Deer Valley, who was breathtaking a fortnight ago, is solid in betting at $7.”

The John O’Shea trained Ambers Waltz is favourite for the two-year-old race at $4.40, shortening in from $6 despite failing as a short priced popular elect on Saturday.

Military Rose, a winner on Boxing Day at Doomben, has been $11 into $7 second-elect.

3 December, 2009

BETFAIR PUNTERS MARK OUT ENGLAND’S POTENTIAL ‘GROUP OF DEATH’

While odds also reveal the group Capello would love to have....

FIFA have confirmed the make-up of the four pots for Friday’s World Cup draw, and Betfair customers have identified a potentially gruelling ‘Group of Death’ for England.

Odds taken from Betfair’s ‘World Cup Winner’ market suggest that England’s toughest outcome would be if they were to be drawn against France (18-1), Ivory Coast (25-1) and Australia (119-1).

The prospect is surely one to worry Fabio Capello, although the England boss can take solace from the fact that it is just as likely that his side will be drawn in the most favourable group according to Betfair, consisting of New Zealand (999-1), Algeria (379-1) and Slovakia (309-1).

Doubts were allayed today when England were placed among the tournament’s top seeds, although FIFA’s decision had no impact on the betting sentiment of Betfair customers, with the price on the Three Lions triumphing in South Africa remaining at 7-1.

Betfair spokesman Ari Last said: “Looking at our markets it is clear how our customers rate England’s potential group opponents, and Betfair’s ‘Group of Death’ is a scary prospect indeed.”

FIFA World Cup 2010 Winner – Betfair bet: 5-1 Spain, 5-1 Brazil, 7-1 England, 11-1 Argentina, 13-1 Germany, 16-1 Netherlands, 16-1 Italy, 18-1 France, 22-1 Portugal, 25-1 Ivory Coast, 69-1 Chile, 69-1 Ghana, 79-1 Serbia, 94-1 Paraguay, 99-1 USA, 109-1 South Africa, 109-1 Cameroon, 119-1 Australia, 129-1 Nigeria, 129-1 Denmark, 129-1 Greece, 139-1 Mexico, 149-1 Uruguay, 219-1 Switzerland, 269-1 Slovenia, 309-1 Slovakia, 379-1 Algeria, 399-1 Japan, 519-1 South Korea, 919-1 Honduras, 989-1 North Korea, 999-1 New Zealand

30 October, 2009

PUNTERS SHUN EFFICIENT FOR CUP

2007 WINNER DRIFTS IN BETTING AS DOUBTS LINGER OVER FITNESS

Champion stayer Efficient has been an alarming drifter in Betfair’s market for the 2009 Melbourne Cup, as doubts over the fitness of the 2007 champion remain only days out from the race.

Speculation that the horse is battling to overcome a long-standing tendon problem refuses to subside, and has prompted punters on Betfair to wind the horse out from $7.60 co-favourite, to $13.50 fourth pick in the space of just 24 hours.

The dramatic shift in the market means that the Bart Cummings trained Viewed, and boom South Australian stayer Alcopop share favouritism for the Melbourne Cup at $6.60.

Alcopop’s rise to co-favouritism comes after he was matched at a high price of $660 in early cup betting.

Cummings also now has the third favourite in Roman Emperor, who’s shortened from $13 to $9.80.

Efficient is at $13.50, and is expected to blow further as long as doubt remains over the fitness of the six-year-old. The Lloyd Williams owned gelding underwent a VRC vet examination yesterday and will do so again before a decision is made on whether he can line-up for a tilt at a second Cup victory.

Other market movers in Betfair’s Melbourne Cup market include:

·         Another Lloyd Williams galloper, Zipping, in from $36 to $24.

·         Mourilyan in from $40 to $30.

·         The Chris Waller import Warringah, matched at a high price of $300, in further from $50 to $42.

·         David Hayes’ imported galloper, Changingoftheguard, in from $36 to $26 this week.

16 October, 2009

Betfair and SKY sign deal to export Australian racing to international audience

Following its landmark deal with the VRC earlier today, Betfair has announced a further deal with television network, SKY Racing, to stream the best of Victoria’s Spring Racing Carnival live online to Betfair’s 1.4 million UK and Irish customers.

The deal will see Betfair stream the entire card at six spring meetings including; tomorrow’s Caulfield Cup, the Cox Plate, three days of the Melbourne Cup Carnival at Flemington and the Sandown Classic from Betfair Park. 

“We’re thrilled to be partnering with SKY and delighted that we’ve been able to complete the deal in time to stream coverage of tomorrow’s Caulfield Cup. Both parties have worked around the clock to ensure that we can take Australia’s best racing to an international racing audience,” said Betfair’s CEO, Andrew Twaits.

“The deal allows the racing industry to export its product to a global network of dedicated racing punters and takes a significant step towards putting Australian racing on the world stage.

“We know our international customers have a thirst for Australian racing and the streaming of Victoria’s spring racing is a springboard for our future plans to stream racing from all three codes to our overseas punters.”

Betfair and VRC team up to take Cup Day to new overseas markets

Betfair and the VRC today announced a landmark agreement that will see the VRC’s Melbourne Cup Day races streamed online to Betfair’s overseas customer base of over 3 million people.

Initially for a one year period, the non-exclusive agreement is the first time the VRC has allowed any overseas wagering company outside North America to stream its races online.

“We’re delighted to have entered into this arrangement with the VRC.  For our first local streaming agreement to cover Australia’s premier race day is a real thrill for us.   We’re sure it will attract a lot of interest amongst our overseas customer base,” said Betfair’s CEO, Andrew Twaits.

“The challenge for us now is to work with the rest of the racing industry, including the other two codes, to help take Australian racing to the world.

“Betfair’s overseas customers have already shown strong year-round interest in Australian racing.  Over 40% of the people betting on Australian thoroughbred racing are from overseas.

“Providing overseas punters with access to quality vision and tailored form can only increase their betting activity on the sport, which in turn will help grow racing’s funding base.”

VRC CEO, Dale Monteith said, “The VRC, which has pioneered wagering on Australian racing through the Melbourne Cup, is delighted to be able to partner with Betfair to take the 2009 Emirates Melbourne Cup Day to the world.   This initiative builds upon strategies undertaken by the VRC, over the past decade, to encourage the world to wager on the race that stops our nation and to return tangible benefits to the Victorian Racing Industry.

“Last year it is estimated that 700 million people in 120 countries watched the Melbourne Cup live or on replay.   The arrangement this year with Betfair will enable its customers to be able to watch the race once they have had a bet on the race.

“We look forward to working with Betfair to maximize the returns to Victorian racing, from this exciting new initiative, which hopefully can be expanded in the near term to include days other than Melbourne Cup Day at Flemington.”

30 September, 2009

SWAN HILL TRAINER “KING” CON KELLY TAKES EARLY LEAD IN BETFAIR KING OF THE BUSH

Swan Hill trainer Con Kelly has made early inroads into capturing the $25,000 first prize in the Betfair King of the Bush series after taking the honours on the competition’s first day.

Such was the response to the initiative from trainers across Victoria, 47 horses were nominated for Sunday’s first leg – the most for any race in the state last weekend.

Betfair PR Manager Jake Norton said that the volume of nominations for the first leg of the series forced it to be divided into two races.

“Through sheer weight of numbers the first leg had to be split in two, with points awarded for both races,” Norton said.

“This proved a blessing for local trainers, with ‘King’ Con Kelly – as we’ve named him for now – collecting a very handy 14 points for a win in one heat and third in the other, and Austy Coffey also picking up a point.

“It also shows that by increasing participation and enthusiasm in the regional areas as it already has, the King of the Bush is a boon for country racing.”

Competition leader Kelly agreed, suggesting that a reward like the $25,000 Betfair has offered to the King of the Bush winner was extraordinary for country trainers.

“It’s fantastic – trainers never have the opportunity to win $25,000 for nothing like this,” he revealed.

“When I found out that the race was being split and I had two bites of the cherry, I was over the moon.

“Now I’ll definitely be taking horses to Kilmore on October 11 and Mildura on Melbourne Cup Day to compete again.  And when this competition gathers momentum, I won’t be the only one.  It’s likely that more races will be split.”

The next leg of the Betfair King of the Bush will be run at Bairnsdale this Sunday (October 4).  The overall winner will be crowned at a presentation at Betfair Dunkeld races on November 14 2009.

22 September, 2009

BETFAIR TO AWARD $25,000 TO BEST IN THE BUSH

Betfair, Australia’s only licensed betting exchange and sponsor of twelve Victorian country race clubs, today announced the launch of a series whose winner will be awarded AU$25,000 and crowned “King of the Bush”.

The series consists of eight legs to be run at Betfair-sponsored Victorian race tracks between September 27 and November 3 2009 (Melbourne Cup day).

Points will be awarded to placegetters in each leg; the trainer who collects the most points across the series will win the cash prize and mantle of King – or Queen – of the Bush.

Betfair Commercial and Sponsorship Manager, Nick Cummins said that through its broad sponsorship portfolio, the company has long maintained a desire to support grassroots racing.

“We have a commitment to supporting racing at all levels. We are very proud of our partnerships with twelve regional Victorian clubs, as well as that with the Melbourne Racing Club and others in South Australia and our home state, Tasmania,” Cummins said.

“We are also fully devoted to providing initiatives to help broaden the awareness of racing. Our customers watch racing day-in, day-out, and we’re confident the additional revenue we’re committing through sponsorship will contribute to the long-term viability of our partner clubs, and racing in general.”

Country Racing Victoria Communications co-ordinator Bradley Thomas welcomed the support of country racing from Betfair and the implementation of the initiative.

“We look forward to following the progression of this series, which will highlight the competitiveness of Victorian country racing and possibly unearth a future Group 1 winner,” said Thomas.

The King of the Bush will be crowned at a presentation at Betfair Dunkeld races on November 14 2009.

31 August, 2009

BETFAIR'S NEW MULTIPLES PRODUCT NOW ALIVE

Betfair, Australia’s only licensed betting exchange, has today announced the introduction of its Australian ”multiples” betting product, “Aus Multis”, in conjunction with Australian sports betting provider, Sports Alive.

The product will provide Betfair customers worldwide the ability to place fixed odds multiple bets through Sports Alive directly from their Betfair accounts.

Betfair Australasia CEO Andrew Twaits says the launch of Aus Multis reinforces Betfair’s desire to offer punters a convenient way to bet on a wide range of products and services, including its core betting exchange product.

“The launch of this multiples product, in conjunction with Sports Alive, fills an important gap in our product offering. We’ve been very pleased with the take up of our Tote Tasmania product offering and we look forward to similar results with the multiples product we’re offering our customers through Sports Alive.”

Sports Alive Betting Manager, Gerard Daffy said; "This is an exciting opportunity for our business to provide a fully managed wagering product to one of the world's leading online businesses."

"Sports Alive is committed to expanding its wholesale product and we see the Betfair Aus Multis relationship as a pivotal first step in implementing this strategy as it aligns our business with one of the most respected and recognisable brands in the industry."

It also widens Betfair’s product range, which now features exchange betting, win & place fixed odds and tote odds, tote exotics, flexi first fours and multiples covering most sports worldwide.

The Aus Multis product will be offered through Betfair’s site and will be managed by Sports Alive under their ACT sports bookmaking licence. All taxes and product fees will be paid by Sports Alive and Betfair customers will not be charged commission on winnings on the Sports Alive multiples product.

29 June, 2009

999-1 USA FALL AT FINAL HURDLE IN BID FOR BIGGEST FOOTBALL UPSET OF ALL TIME

Americans shorten from 999-1 to 1-3 on Betfair before agonising defeat

THE USA fell at the final hurdle in their bid to cause arguably the biggest tournament upset in football history against Brazil in the final of the Confederations Cup tonight, having been backed at the maximum odds of 999-1 on betting exchange Betfair.

And when they sensationally led 2-0 at half-time, they were 1-3 favourites on Betfair to win the Cup.

A total of £31 was placed at 999-1 on the Americans lifting the Cup, and the USA consistently defied colossal odds throughout the tournament – not surprising considering they looked down and out in the group stages.

• Having been beaten 3-1 by Italy and 3-0 by Brazil in their opening two matches, they had to conjure up a minor miracle just to reach the semi-finals, as they needed to beat Egypt and overturn a six goal deficit in the process. The Betfair odds on this were 699-1 - but they duly defeated Egypt 3-0 and Brazil overcame the Italians by the same scoreline.

• In the semi-finals they were available at 20-1 on Betfair to beat European champions Spain, who they promptly despatched 2-0.

And, in tonight’s final, they were red-hot favourites at 1-3 on Betfair to complete the miracle when leading 2-0 at half-time.

But it was not to be as Brazil broke their hearts when scoring three second-half goals to win 3-2.

Betfair spokesman Tony Calvin commented: “There have been a number of shock winners in football tournaments down the years, notably Denmark winning the European Championships in 1992 and Greece triumphing in Euro 2004.

“But the USA were within a whisker of trumping those victories, and causing the biggest tournament upset in football history – from a betting perspective at the very least."

11 June, 2009

Betfair sets the record straight on NSW industry funding

Betfair today corrected a number of important factual errors in the ongoing debate about industry funding and in doing so opened the door for Racing NSW to generate more than $10 million a year in extra product fees.

At a media briefing in Sydney, Betfair’s CEO, Andrew Twaits, said the industry would benefit greatly if the basis for industry funding was applied consistently across all wagering operators.

“There’s been some heated debate around the issue of industry funding, with stakeholders quite naturally expressing concern about the future viability of the racing industry.  In all the hysteria, some of the facts have been lost or distorted, including the basis on which Betfair believes it should contribute to the funding of the racing industry. 

“Let me be very clear on this.  We have offered to pay the industry on gross revenue – that is, on the same basis as the TABs in NSW, QLD and Victoria.  Further, we think 20% is the right amount and we’ll pay at that rate if everyone else does the same.

“Racing NSW has set the fees for TABs at just 9.375% of their gross revenue.  If Racing NSW sets its product fees at 20% (of gross revenue) for all wagering operators, we believe they would be likely to generate more than $10 million per year in extra product fees for the industry.  That is in addition to the undisputed element of the product fees Racing NSW is already charging interstate operators.

“Whilst no one likes paying more tax, we’ve consistently said that 20% is the right amount for race fields.  We’ll pay it if our competitors do the same.

“What we won’t do is pay tax at a rate that’s six times higher than our competitors.  That’s a recipe for us going out of business.”

Mr Twaits concluded; “We’re determined to see the nation’s racing industry prosper, and we’re prepared to pay our fair share to help achieve that result.”

For more information on industry funding visit www.factsaboutfunding.com.au   

Notes to Editors:

1.     Attachment: Funding Facts v Fictions PDF

1.     Betfair has made the following product fee contributions to Australian racing:

-       Pre-licence (2003-2006): 20% of gross revenue accrued to each State racing authority

-       Post-licence (2006-now): 20% of gross revenue paid to Tasmania as a product fee, plus tax of 15% of gross revenue.

-       Betfair is also paying product fees under State race fields legislation where required to do so.

2.     To date, all states racing authorities have accepted accrued product fees except those in NSW and QLD. Accrued product fees total over $4 million (on then-current exchange rates), including $1.4 million for Racing NSW. Total product fees paid to Tasmania are approximately $10 million, plus another $7 million in tax. Total race fields fees paid to Racing NSW since 1 September 2008 are over $1.8 million.

22 May, 2009

Betfair Responds to ARB Chairman’s Calls for Protection

Betfair reacted with dismay, but not surprise, at the Australian Racing Board Chairman’s calls, reported in today’s Sydney Morning Herald, for statutory intervention to protect the TABs from competition in the market for betting on racing.

"Mr Bentley's calls for federal legislation to allow the racing industry to protect the TABs aren't surprising given his dual roles as Chairman of the ARB and Director of the Tatts Group which operates the TABs in Queensland and South Australia, said Betfair CEO, Andrew Twaits.

“It looks like we’re back to square one with the ARB, which is disappointing given the progress we’ve made in building solid relationships in other States.  For instance, in addition to paying product fees in Victoria and South Australia, Betfair is sponsoring fifteen race clubs in those states.

"Betfair is not racing's enemy.   We’re proud of our association with racing and we want to see the sport prosper.  The real danger to racing’s future is the other products that offer punters a cheaper, simpler and more attractive alternative to betting on racing.

"The ARB’s use of the Productivity Commission inquiry as a platform to promote an anti-competitive agenda is highly inappropriate.

"The real question that racing industry stakeholders should be asking the sport's administrators is what plans they have to address the massive losses of market share the sport has experienced by racing over the past 25 years.

"We think we are part of the solution.  If Mr Bentley thinks otherwise, and that the TAB’s, including his own, are deserving of protection, let him explain how this will help the racing industry prosper in the face of increasing competition from other gambling products.”

Response to specific comments in SMH article:

Mr Bentley:  “… the industry "faces the greatest challenge in our lifetime" due to "the rapid growth of new types of Australian wagering providers, corporate bookmakers and betting exchanges".

Betfair:  The following graph (drawn from the latest official Australian gambling Statistics, compiled by the QLD Treasury) shows that racing’s market share suffered its greatest setback before betting exchanges and corporate bookmakers even existed.  Racing’s greatest challenge has been, and will continue to be, from other gambling products; not competitors of the TABs.

Mr Bentley:  "Individual pieces of state legislation being tested by the 'free riders' and the 'pay-what-we-like operators', is subjecting the industry to too much uncertainty,"

Betfair:  Betfair has not been free-riding on the racing industry.  Since being licensed in Australia, Betfair has paid 35% (plus GST) of its gross revenue on racing in product fees and taxes to the Tasmanian racing industry.  The TAB of which Mr Bentley is a Director has similarly paid all of its product fees and taxes to QLD and SA – and paid nothing to racing bodies in other jurisdictions.  Similarly we do not want to “pay what we like”.  We have always said that we will pay what the TABs pay.

Mr Bentley:  "… the racing industry was acknowledged as the content originator that made the wagering business possible and product fees were set that delivered fair returns back to the industry".

Betfair:  The important fact Mr Bentley fails to mention is that those product fees were set as a percentage of gross revenue; not turnover.  Mr Bentley and his NSW counterparts want to shift to a turnover-based model because it favours the TABs.

Mr Bentley:  "Crucially, the federally endorsed mandate must enable the racing industry to set the fees payable having regard to objective criteria."

Betfair:  The ARB should state what fees it believes should be applied on a national basis and, if its model differs from the models based on gross revenue that have been applied in Victoria, South Australia and Tasmania, on what basis it believes that it will be better for the industry.

Mr Bentley:  "This is in complete contrast to newer types of wagering providers who refuse to recognise the right of the racing industry to set its own prices for wagering,"

Betfair:  The racing industry has no right to set the price of wagering.  That right is reserved to the wagering operator.  The TAB’s have complete discretion as to what price they charge the punter, below the statutory caps.  What the racing industry should be able to do is set the product fees payable by wagering operators – but they must set those fees in a non-discriminatory way.

Mr Bentley:  "We hear a great deal about newer operators 'growing the pie' but it looks blindingly obvious that cannibalisation of existing business from TABs is front and centre,"

Betfair:  There is no doubt that some punters will switch some of their betting from TABs to low margin operators such as corporate bookmakers and Betfair.  However, these lower margins represent the only real chance racing has to compete with other low margin gambling products such as sports betting, casinos and online poker.  To the extent there is cannibalisation, however, it should be of no interest to the racing industry whether punters spend their gambling dollars with the TABs, bookmakers or Betfair, as long as each of those operators agree to pay the same percentage of that punter expenditure to the racing industry as a product fee.

16 April, 2009

Geelong Racing Club and Betfair Announce Partnership

THE Geelong Racing Club today announced a corporate sponsorship with Betfair, the world’s leading online betting exchange, for the next two years.

The GRC’s Business Development Manager John Dunne welcomed the partnership with the global wagering company, which is licensed in Australia.

“The club is delighted to have Betfair on board as a significant corporate partner going forward,” Mr Dunne said.

“We have been in discussions with Betfair for a lengthy period of time and the recent relaxation of advertising restrictions in Victoria has allowed us to formalise our relationship with Betfair”.

“The partnership with the major global betting exchange will compliment our existing sponsorship relationships as we move into an exciting era for the Geelong Racing Club,” he said.

Betfair’s Sponsorship and Commercial Manager, Nick Cummins, said; “The Geelong Racing Club is arguably Victoria’s leading provincial race club and offers our brand terrific national exposure through its excellent racing schedule and dual-track complex.

“Until October 2008 advertising restrictions prevented us from committing to sponsorship agreements such as these, but it’s always been our intention to put back into racing, particularly at a grass roots level.

“We’re aware of how important racing from the provincial tracks is to our business. Our punters watch racing day-in-day-out either to have a bet or do the form and we’re confident the additional money we’re committing will contribute to the long-term success of the club.”

3 April, 2009

BETFAIR EXPANDS IN-RUNNING PRODUCT ON AUSTRALIAN HORSERACING

Betting in-the-run now available on all Saturday and midweek metropolitan meetings

In advance of one of Australia’s most anticipated days of racing in recent memory, including the feted Golden Slipper and BMW, Betfair today announced it would be significantly expanding its “in-running” betting product.

Previously available on Australian Group-level thoroughbred races only, from tomorrow, Betfair punters will also be able to bet live, online on all Australian Saturday and midweek metropolitan horseracing.

Made possible by its unique, dynamic person-to-person exchange platform, live in-running betting has been well received on Australian Group racing since its inception in Australia on October 10^th last year.

As Betfair’s Australian in-running market depth and popularity continues to grow in line with the growth of its horseracing markets in general, the in-running product has promised to deliver similar benefits to customers betting on Australian horseracing.

Betfair’s Media and Communications Manager, Hugh Taggart, said, “Punters have really embraced the ability to bet during a race, and the feedback from our customers has suggested we offer more in-running markets across horseracing. 

“Like many of Betfair’s diverse horseracing products, the concept of in-running betting has stimulated new interest in racing, which can only be positive for the industry.”

20 March, 2009

MAN UTD REPLACE BARCELONA AS FAVOURITES FOR CHAMPIONS LEAGUE

BETFAIR customers have slashed the odds on Manchester United retaining the Champions League after they were handed a favourable route to the Final in Rome.  Sir Alex Ferguson’s side were 3-1 before the draw but are now just 11-5.

It was a different story for Chelsea and Liverpool fans, however, who will be reeling at the prospect of yet another match-up in the last eight as they go head-to-head.  The odds remain largely unchanged on the two sides (15-2 Chelsea, 8-1 Liverpool) as punters seem unsure how the tie will play out.

The winners of that tie face either Barcelona or Bayern Munich.  Barca had been the long-term favourites for the competition but now fall behind Man Utd at 3-1, while Bayern are a big price at 17-1 despite the demolition of Sporting Lisbon in the previous round.

Betfair spokesman Michael Robb said: “Neutrals will have a wry smile on their face after that draw with yet another epic between Chelsea and Liverpool in the offing.  Manchester United fans will undoubtedly be the happiest as they face the easiest route to the final.”

To win the Champions League – Betfair bet: 11-5 Manchester United, 3-1 Barcelona, 15-2 Chelsea, 8-1 Liverpool, 8-1 Arsenal, 17-1 Bayern Munich, 31-1 Villarreal, 59-1 FC Porto

10 February, 2009

GUUS HIDDINK 10-3 FAVOURITE TO REPLACE SCOLARI AT CHELSEA

GUUS HIDDINK is the early favourite to replace Luiz Felipe Scolari as Chelsea manager following his shock dismissal today.  Betfair customers make the Dutchman 10-3 to land the post this time around, having been hotly tipped to take the position instead of Scolari last summer.

Another name reported to be on the shortlist to replace the Brazilian is former boss Avram Grant, who was sacked at the end of last season despite guiding the club to the Champions League Final.  Punters clearly think a return for Grant is unlikely, however, and make him 16-1.  A more likely destination seems to be Fratton Park, with the Israeli 12-5 favourite to be the next Portsmouth manager following the sacking of Tony Adams this morning.

Jose Mourinho looks similarly unlikely to be heading back to Stamford Bridge and the early Betfair betting also puts him at 16-1.  Chelsea fans still hold the ‘Special One’ in high regard but whether or not the Inter boss would be tempted back to West London, while Roman Abramovich is at the helm, is another question.

Ex-Chelsea favourite Gianfranco Zola also looks to be in contention.  The West Ham boss would be a less experienced choice than the other names linked with the post but at 15-2 punters are clearly not ruling him out.

Customers have reacted to the sacking by making Manchester United even stronger favourites to win the Premier League title again this season.  The Red Devils have shortened to 1-4, with Chelsea out to 22-1.

Betfair spokesman Michael Robb said: “With such an important run of fixtures coming up in all competitions we can expect a speedy appointment.  The early betting offers a mix of proven managers and ex-Chelsea favourites as front-runners for the job.

“Whoever secures the post looks to have their work cut out in the race for the Premier League title, with punters now making Manchester United strong favourites to retain their crown.”

To be the next Chelsea manager – Betfair bet: 10-3 Guus Hiddink, 6-1 Frank Rijkaard, 15-2 Gianfranco Zola, 17-2 Roberto Mancini, 16-1 Avram Grant, Jose Mourinho, 17-1 Sven Goran Eriksson, 31-1 Didier Deschamps

To be the next Portsmouth manager – Betfair bet: 11-5 Avram Grant, 4-1 Alan Curbishley, 9-1 Sven Goran Eriksson, 13-1 Paul Hart, 16-1 Slaven Bilic, 20-1 Joe Jordan, 24-1 Gerard Houllier, 29-1 Terry Venables, 33-1 David O’Leary

To win the 2008/9 Barclays Premier League – Betfair bet: 1-4 Manchester United, 6-1 Liverpool, 22-1 Chelsea, 41-1 Aston Villa, 109-1 Arsenal

28 January, 2009

Betfair and Macrovision Announce Betfair’s Acquisition of
TVG Network

$50m Million Transaction Completed

Santa Clara, California & London, UK (January 27th, 2009)

BETFAIR Group Ltd, the premier e-gaming business, and Macrovision Solutions Corporation (NASDAQ: MVSN), a digital entertainment technology leader, today announced that Betfair has completed its acquisition of the TV Games Network (TVG) from Macrovision for $50 million in cash consideration.

TVG, the official TV and Interactive Wagering partner of the National Thoroughbred Racing Association (NTRA), is among the most widely-distributed horseracing networks in the world and is also a leading provider of advance deposit wagering services in the US.

“The divestiture of the TVG Network marks another milestone in a set of objectives we set for ourselves when we acquired Gemstar-TV Guide in 2008, and helps to focus our company around the goal of powering a uniquely simple home entertainment experience,” said Fred Amoroso, President and CEO of Macrovision. 

Gerard Cunningham, President of Betfair US, said: “We are tremendously excited to be the new owners of TVG and look forward to building upon the worldwide experience of Betfair to help grow the business.

“We believe TVG to be the premium product in the sector, with exceptional staff and loyal customers, and we look forward to working with the horseracing industry to help promote this great sport.”

David Yu, CEO of the Betfair Group Ltd, commented: “We have always been attracted by the operating strength of TVG together with its conservative and prudent regulatory approach. Its values are very much aligned with those of Betfair.

“We have waited to enter the US market until we had a high quality, and above all, legal product offering, and we believe with this acquisition we have secured those goals.”

Notes To Editors:

About Betfair Group Ltd

Betfair is the premier e-gaming betting community, with horseracing as its core product.

Betfair has twice been named the UK’s ‘Company of the Year’ by the Confederation of British Industry and remains the only betting company to win a Queen’s Award for Enterprise, being recognised for Innovation in 2003 and most recently for International Trade in 2008, and one of only a handful to have won it twice.

Betfair was named the ‘Socially Responsible Operator of the Year’ in October 2006, and won the top accolade, the ‘Operator of the Year’ Award, at the eGaming Review Industry Awards in 2007.  The judges said that the company had “constantly pushed the boundaries in terms of what betting companies offer their customers.”

Betfair has signed 42 Memoranda Of Understanding (MoUs) with sporting bodies worldwide, the first of which was with the Jockey Club (now the British Horseracing Authority) in 2003.

More information about Betfair can be found at http://corporate.betfair.com

About Macrovision Solutions Corporation

Macrovision Solutions Corporation is focused on providing a uniquely simple digital home entertainment experience by delivering solutions to businesses to protect, enhance and distribute digital goods to consumers across multiple channels. Macrovision’s technologies are deployed by companies in the entertainment, consumer electronics, cable and satellite, and online distribution markets to solve industry-specific challenges and bring greater value and a more robust user experience to their customers. The result of deploying Macrovision’s solutions is a simple end user experience for discovering, managing and enjoying digital content. Today, Macrovision provides connected middleware, media recognition, interactive programming guides, copy protection and rich media, data and metadata on music, games, movies and television programming. The company also operates an entertainment portal which can be found at http://www.allmusic.com. Macrovision holds over 4,100 issued or pending patents and patent applications worldwide.

Macrovision is headquartered in Santa Clara, California, with numerous offices across the United States and around the world including Japan, Hong Kong, Luxembourg, and the United Kingdom. More information about Macrovision can be found at www.macrovision.com.

17 January, 2009

KAKA EVENS TO START FOR CITY AGAINST MIDDLESBROUGH ON FEBRUARY 7

PUNTERS are split down the middle on whether or not Kaka will be moving to Manchester City this month.  Betfair customers are betting on whether or not the Brazilian star will start for City in their first game after the transfer window closes, with evens that he will and 8-11 he won’t.

The market has been extremely volatile with prices constantly changing as more news breaks.  More than £500 has been matched at 1-2 that Kaka will start the game, while betting on him not starting reached a low of 1-33.

Adding to the uncertainty in this market is that not only must the transfer go through but he must start City’s home game with Middlesbrough on February 7.  With so many factors to consider the odds are changing by the minute.

Betfair spokesman Michael Robb said: “It seems quite clear that Betfair customers have no idea whether or not Kaka will be making the move to Eastlands.  Initially the market was strongly suggesting he wouldn’t but now it all looks up in the air.”

“It’s effectively odds-on that he’s going to move to City given that our customers are making him just even money to start against Boro, but there are sure to be plenty more twists in the tail.”

Kaka to start for Manchester City against Middlesbrough on 7^th February – Betfair bet: 8-11 No, Evens Yes

8 December, 2008

Ashley Young delivers 439-1 early Christmas miracle

Aston Villa were matched at odds of 440 (439-1) on Betfair to beat Everton in what must surely go down as one of the most hectic two minutes of inplay football betting ever on Betfair, not to mention the history of the Premiership.

With less than a minute of stoppage time left, Aston Villa were trading at odds of 1.04 (1-25), with the draw trading at a high of 26 (25-1). Everton defender Joleon Lescott, a childhood Villa fan, scored his second of the match to level the scores but with just enough time to re-start the match, Villa’s Ashley Young found a gap in Everton’s defence to run through and score a last-gasp winner.

After Everton’s equaliser, Villa had drifted to odds of 440 (439-1) and £14 was traded on the away side at this price. With a share of the spoils looking a certainty, over £124,000 was traded on the draw at Betfair’s minimum price of 1.01 (1-100).

Betfair Spokesman James Pacheco said: “Villa’s short-priced backers must have been tearing their hair out as Lescott equalised so late on for Everton but Ashley Young bailed them out in the end. With less than a minute on the clock, Villa had drifted to odds of 440 (439-1) on Betfair and the former Watford man delivered an early Christmas miracle for those who believed.”

Betfair summary of the last two minutes

Villa lead 2-1, one minute of stoppage time to go:

· Villa trade at 1.04 (1-25)

· Draw trades at 26 (25-1)

Everton equalise and there’s less than a minute of stoppage time to go:

· Draw trades at 1.01 (1-100) for over £124,000

· £14 is traded on Villa at odds of 440 (439-1)

Ashley Young scores last-gasp goal

4 December, 2008

BETFAIR’S NEW ASSOCIATION WITH ASCOT GOES BEYOND THE KING GEORGE VI & QUEEN ELIZABETH STAKES

BETFAIR’s progress as a worldwide brand took a significant step forward today with the announcement of a five-year deal with Ascot, Britain’s highest-profile racecourse.

The seven-figure sponsorship revolves around Britain’s top international race, the King George VI & Queen Elizabeth Stakes, whose value has been boosted from £850,000 to £1 million (AUD$2.3m) for 2009, but also involves much else to push the Betfair brand.

Stephen Burn, Betfair’s Director of Horseracing, explained at the media launch in London: "We are very pleased that Ascot understand our business and are keen to work with us in a way that we have been hoping to work with racing for a such a long time - the Ascot executive has been very forward thinking.

"We don’t want to just attach our name to the King George, we desire a more deep-rooted and fundamental partnership with racing, to try and bring new customers to Ascot and the sport as well as maintaining existing ones.

"Our first ever-market at Betfair was the Epsom Oaks in 2000 and 36 people bet on that market and it is real tribute to our customers that within 10 years Betfair is able to do a headline deal such as this.

"The credit should go to our customers who have voted with their wallets to bet on racing in a different way. Betfair will continue to grow and we are really excited about what we can do for racing through the Ascot partnership.

"Now nearly half of Betfair’s customers come from outside the UK and our Australian and international teams teams have worked closely with us to finalise the Ascot deal.

"We plan on making our racing product even more attractive to internationally customers and we hope this deal goes some way to ensuring that. We are not obliged to make Levy payments on our international business but we continue to do so. This year we will pay approaching £2 million (AUD$4.6m) in voluntary payments to the Levy.

"This sponsorship with Ascot now makes Betfair the second-biggest sponsor in British racing with only the tote putting more money directly into sponsorship."

Charles Barnett, Ascot’s Chief Executive, added: " I am delighted to announce Betfair as the new sponsor of the King George VI & Queen Elizabeth Stakes, Ascot’s premier race which is regularly rated within the top three races worldwide.

"The King George VI & Queen Elizabeth Stakes (sponsored by Betfair) is a headline agreement over five years which Ascot and Betfair believe will develop into a wider commercial relationship.

"Ascot’s late July meeting will be now be presented as the Betfair weekend, featuring the King George VI & Queen Elizabeth Stakes (sponsored by Betfair) which will be worth £1 million for the first time in 2009, something we have aspired to for some time but are now able to deliver because of this new partnership.

"Today’s announcement is far more wide-reaching than the King George announcement - starting this coming February Betfair will be sponsoring our most valuable steeplechase, the £150,000 (AUD$344,000) Betfair Ascot Chase.

"In the same way that you have seen pennants and boarding marking our association with other annual partners at Ascot, there will be annual Betfair branding around the racecourse throughout the year including stalls branding on the Friday of Royal Ascot.

"I am delighted to welcome Betfair as partners today and look forward to a long and fruitful relationship."

The Ascot sponsorship, the biggest in British Flat racing, will involve the establishment of Betfair lounges and incorporate the Betfair education trailer to assist racegoers in becoming more familiar with Betfair.

The international appeal of Ascot and Royal Ascot will be leveraged by Betfair to build its racing custom worldwide.

The Betfair Ascot Chase will be used to augment the Betfair Million bonus which kicks off with the Betfair Chase at Haydock Park in November.

22 November, 2008

WHO WILL ‘DO THE TAIKAI’ THIS SATURDAY?

Premiership race is on to secure £10,000 charity payday

WILL Nicolas Anelka, Robbie Keane or that master of the ‘goal celebration’ Peter Crouch risk a yellow card to make football history and land a £10k windfall for charity?  The Premiership is poised to see the world’s first ever commercial goal celebration as Betfair, the UK’s biggest online betting company, offer £10,000 to charity for the first player to ‘DO THE TAIKAI’.

Every Premier League footballer, agent and club has been sent a step-by-step guide to ‘DO THE TAIKAI’. With six Premiership games kicking off at 3pm, featuring the likes of Anelka, Robinho and Emmanuel Adebayor, goals are certain. Anelka is just 3-1 to open the scoring for Chelsea at home to Newcastle, the shortest price in any of Betfair’s first goalscorer markets.

But will there be 120 outfield players practising ‘THE TAIKAI’ in the changing rooms at 2.45pm on Saturday afternoon? According to the Premier League, any player trying to bag £10k for charity will risk going into the referee’s book.

Andy Lulham of Betfair said: “With so many players in fine goal-scoring form there is no doubt the goals will flow on Saturday - we’re hoping the charity incentive on offer to ‘DO THE TAIKAI’ will also mean we see a footballing first.”

“It’s a shame that the Premier League have failed to see the funny side. A yellow card seems a harsh penalty when goal celebrations should just be part of the theatre of football. But all we need to see is good technique, immaculate style and a pinch of flair along with those karate chops to nail that £10,000 charity windfall.”

Betfair, the UK’s biggest online betting company, has put up the unique prize to publicise the launch of TaiKai -  a new football prediction game which is a cross between the office sweepstake and the traditional wager. The first Premier League footballer to ‘DO THE TAIKAI’, a martial arts inspired dance move that reflects the Far Eastern origin of the product’s name, will instantly be awarded a £10,000 prize for the charity of their choice.

To ‘DO THE TAIKAI’ Betfair odds:

First goalscorer in Chelsea v Newcastle – Betfair bet: 3-1 Nicholas Anelka

First goalscorer in Man City v Arsenal – Betfair bet: 13-2 Robinho, 11-2 Emmanuel Adebayor, 12-1 Stephen Ireland

First goalscorer in Portsmouth v Hull – Betfair bet: 5-1 Peter Crouch

First goalscorer in Liverpool v Fulham – Betfair bet: 4-1 Robbie Keane

First goalscorer in Middlesbrough v Bolton – Betfair bet: 13-1 Kevin Nolan

First goalscorer in Stoke v West Brom – Betfair bet: 6-1 Dave Kitson

First goalscorer in Aston Villa v Man Utd – Betfair bet: Wayne Rooney: 6-1

4 November, 2008

Punters bets right up to the final post on Melbourne Cup with Betfair

Winner, Viewed, backed at $11 in photo finish

While other bookmakers around the country shut their books and suspended their markets on the Cup, Betfair, the only licensed betting exchange in Australia, kept betting after the gates flew open.

Punters sitting at home certainly didn’t miss out on the action. Those in front of their PC’s were able to bet on the Cup online after they jumped and right up until the finishing line.

More than $50,000 was traded during the running of the 2008 Melbourne Cup with some $25,000 traded in the last 200m as winner, Viewed, and Bauer went to the line together.

Amazingly the last bet struck on Viewed before the exchange suspended their in-running market on the race was at $11.

Clearly, many in-running punters thought that the strong-finishing Bauer, a $23 chance on Betfair when they jumped, was going to get up close home. But, despite trading at $1.56 in-running, it was Viewed that held on by the narrowest of margins.

Remarkably, Viewed never traded at less than $2 in-running and was backed at a high of $85 in Betfair’s ante-post market.

Betfair’s Media and Communications Manager, Hugh Taggart said; “Since Betfair began offering in-running earlier this spring on its Group horseracing markets punters have swarmed to the concept and today was no different.”

More than 85,000 bets were struck on Betfair’s Cup market totaling almost $6m in traded bets.

31 October, 2008

"SORE" ALL THE GOOD DRIFTS TO $300 ON BETFAIR FOR MELBOURNE CUP

Betfair market suggests he is now a $6 chance to line-up

Betfair’s betting exchange proved again tonight it was the best market barometer of major international races, when a leg injury to Caulfield Cup winner, All The Good, sent shock waves through Cup betting on the exchange.

News that All The Good is sore in his right foreleg and has undergone X-rays to ascertain the extent of the damage prompted the Godolphin stayer to drift to an in incredible $300 for the Emirates Melbourne Cup on Betfair, before settling at a more sober $60.

The 5yo was matched at single-figure prices for the race on the exchange after winning the Caulfield Cup, but the Betfair trading frenzy that accompanied today’s downbeat bulletin, suggests he is now firmly odds-against to line-up on Tuesday.

Betfair’s Media and Communications Manager, Hugh Taggart, said; “This news comes as another crushing blow for backers after Efficient was also ruled out of the race on Wednesday. But that is the nature of ante-post betting and it just goes to show how quickly punters react.

“It remains to be seen whether the layers who offered big three-figure prices about All The Good tonight have over-reacted. Certainly, plenty will be hoping they have, and that the horse can take its chance.

“The current Betfair betting suggests All The Good is about a $6 chance just to line-up.”

To win the Emirates Melbourne Cup: $4.9 Septimus; $5.7 Mad Rush; $10.5 Nom De Jeu; $13 Profound Beauty; $19 Zipping, $21 Bauer, Littorio, Cest La Guerre; $23 Honolulu; $30 Viewed; $34 Master O’Reilly; $46 Gallopin; $50 Barbaricus; $60 All The Good.

30 October, 2008

BETFAIR BETTING DETAILS ON AN AMAZING GAME

£821,346 (AUD$2 mill) is matched at the minimum price of 1-100 on Arsenal on Betfair when they lead 4-2 Draw drifts to 399-1 on Betfair, with £24 being placed on the draw at that price (though one punter gets 50p at 799-1!) Tottenham equalize in the last of four injury time minutes to level it at 4-4

Betfair spokesman Tony Calvin commented: “There have been bigger-priced upsets in this Premiership season – for example, Hull were backed at 599-1 on Betfair when they were 1-0 down against Arsenal in this campaign.

“But I have rarely, if ever, seen so much traded at the minimum price of 1-100 – and that team losing.

“It seems that the Gunners are prone to shooting themselves in the feet.”

28 October, 2008

Tony Adams odds-on to succeed Redknapp as Portsmouth boss in Betfair market

HARRY Redknapp’s departure to Tottenham has paved the way for Tony Adams to get his first job in charge of a Premiership club, according to Betfair’s Next Portsmouth Manager market.

The former Arsenal and England captain, who was assistant to Redknapp at Fratton Park, is currently the 8/13 favourite to get the Portsmouth job on a permanent basis, having been matched at a longest price of 8/1 at lunchtime on Sunday.

Avram Grant is next in the betting at 9-1 and is another with Portsmouth connections, having spent a year at Fratton Park as Technical Director in 2006 before his move to Chelsea where he first became Director of Football and then First Team Manager after Jose Mourinho’s departure. Former Newcastle and Bolton boss Sam Allardyce comes next at 10-1, after being matched at a low of 6/5 on Sunday afternoon. However, the only candidate to have been matched at evens or less other than Adams is Reading manager Steve Coppell, who touched even money this morning, though he has since drifted to odds of 49/1.

Betfair Spokesman James Pacheco said: “Two-thirds of the money on Betfair’s next Portsmouth manager market has so far been traded on Tony Adams. He may have been nicknamed “Donkey” by some football fans in his playing days but at 8/13 it’s looking like a one-horse race at the moment”.

Next Portsmouth Manager – Betfair bet: 8/13 Tony Adams, 9-1 Avram Grant, 10-1 Sam Allardyce, 22-1 Alan Curbishley, 49-1 Steve Coppell, 54-1 Terry Venables.

Prices correct as of 16:30 Monday 27th October.

9 October, 2008

Betfair launches in-running betting on Australian horseracing

At a product launch today at Crown, Betfair announced it would begin offering regular “in-running” betting on Australian horseracing.

From this Saturday, Betfair punters will be able to bet live, online on Australian horseracing while a race is in progress.  To begin with, in-running betting will be offered on all Group races in Australia.

Made possible by its unique, dynamic person-to-person exchange platform, live in-running betting has transformed the betting landscape in the UK and Europe. Offered with great success on European markets by Betfair for some years, in-running betting activity now accounts for some 18% of all money traded on UK horseracing. 

As Betfair’s Australian horseracing market depth and popularity continues to grow, the in-running product now promises to deliver similar benefits to customers betting on Australian horseracing.

For the first time, Australian punters will have the ability to bet after they jump and right up to the winning post, creating a completely new aspect of horseracing and bringing excitement to the Australian betting landscape that did not exist previously.

Betfair Australia’s CEO Anthony Klok said: “The in-running product will be a boon for the racing industry. With the concept comes a host of new ways to bet, stimulating interest in racing. 

“We’ve been looking forward to offering this product to Australian punters on our local product for some time. Evidence from the UK suggests it’s a favourite with the punters and ultimately a great driver of interest in horseracing.”

3 October, 2008

Betfair issues court proceedings against Racing NSW and Harness Racing NSW

Betfair today issued proceedings in the Federal Court of Australia challenging the validity of decisions by Racing NSW (RNSW) and Harness Racing NSW (HRNSW) to impose a 1.5% turnover fee for all wagering operators wishing to cover NSW thoroughbred and harness races.

The proceedings in the Federal Court are brought under section 92 of the Constitution, alleging discriminatory conduct in interstate trade and commerce.  Betfair succeeded in a separate section 92 action against the Western Australian government earlier this year.

Betfair’s Director, Corporate and Business Affairs, Andrew Twaits, said: “We’re happy to pay a fee to the NSW racing industry on all our wagering revenue but the turnover fee imposed by Racing NSW and Harness Racing NSW is highly discriminatory.

“The fee equates to around 60% of our gross revenue but less than 10% of TAB’s revenue.  Both RNSW and HRNSW are fully aware that it’s impossible for us to compete on those terms.  They’ve left us with no option but to challenge the validity of their decisions.

“The only fair basis on which to charge for race fields is to implement a gross revenue model where every wagering operator pays at the same rate.  That way, even if there is any transfer of customer expenditure from the TABs to other wagering operators, the NSW racing industry will continue to get the same proportion of revenue from every dollar spent by punters.”

3 September, 2008

EX CAGLIARI MANAGER BALLARDINI A SURPRISE MARKET SPRINGER

Bilic a weak 3-1 favourite on Betfair

SLAVEN BILIC is the 3-1 market leader on Betfair to be the next West Ham manager, but little-known Davide Ballardini is the surprise 5-1 second favourite to get the Upton Park job.

Ballardini is currently out of work, but he has a decent recent pedigree in taking over manager-less, relegation-touted clubs.

He took over at Cagliari from December 2007 to May 2008, and saved them from the drop after the previous manager was sacked.

Betfair spokesman Tony Calvin commented: “It is very early days and Bilic is the predictable favourite, though his Betfair price suggests he is rather more unlikely to get the job than some believe.

“Ballardini is a very interesting candidate to judge from the early Betfair betting.”

Prices as at 4.30pm – Betfair bet: 3-1 Bilic, 5-1 Ballardini, 11-1 Di Canio, 13-1 Redknapp, 14-1 Mancini, 18-1 Allardyce, 20-1 Guidolin, Nani.                  

1-25 KEEGAN HAS NOT BEEN SACKED BY NEWCASTLE, AFTER ALL

SKY SPORTS NEWS, quoting “sources close to the club”, were adamant that Kevin Keegan had been sacked as Newcastle manager early this afternoon – and the Betfair market on the next Premier League boss to leave his job reacted accordingly.

At 12.59pm this afternoon, at the height of the sensational gamble, Keegan was backed at 1-25 on Betfair.

But a Newcastle club announcement this evening saying that they haven’t sacked the manager threw the market into turmoil.

He immediately drifted out to 4-1, but at the time of writing he has remarkably been backed into 1-2 again.

Betfair spokesman Tony Calvin commented: “These types of situations are exactly why we keep our markets open until official confirmation has been received.”

1.     16^th August, Morning of first day of the season: Kevin Keegan is 11-2 on Betfair

2.     Evening of the 17^th August, just after 1-1 draw with Man Utd: Keegan’s odds drift to 7-1 on Betfair

3.     28^th August:  Keegan drifts to a market-high of 14-1 on Betfair

4.     12.59pm at Lunchtime today: Keegan is backed at 1-25 on Betfair

5.     1.45pm this afternoon: Despite media speculation, Keegan is still available at 1-6 on Betfair to be the next Premiership manager to leave his post

6.     6.40pm this evening, Newcastle announce that he hasn’t been sacked: Keegan drifts to 5-1

7.     7pm this evening: Keegan shortens into 1-2 again in another remarkable twist

989-1 MAN CITY ALL THE RAGE AFTER ROBINHO SIGNING

WHAT a difference a fortnight makes.

Just over two weeks ago Manchester City were beaten 1-0 at home by Midtjylland in the UEFA Cup, crushed 4-2 away at Aston Villa in the Premier League and faced the prospect of a billionaire owner whose funds looked to be running dry.

So not too much surprise that, at this stage, their Premier League title odds leapt out to 989-1 on Betfair.

But they turned their European fortunes around with a penalty shoot-out success in Denmark, and thumping 3-0 wins of their own against West Ham and Sunderland.

And now, having been bought yesterday by the Abu Dhabi United Group For Development and Investment, and buoyed further by the stunning £32m arrival of Robinho at Eastlands last night, a genuine gamble on them has been sparked that has seen them shorten into 54-1 fifth title favourites on Betfair.

And they are now a staggeringly short 11-2 chance to finish in the top four in the Premier League, and only 11-10 to finish in the top six.

Betfair spokesman Tony Calvin commented: “A lot of people thought Mark Hughes was mad to take on such an unsettled position at Manchester City at the start of the season.

“But he now appears to have struck gold - or should that be oil?

“Certainly, the odds now suggest that City have a genuine, if outside, chance of breaking into football’s equivalent of Fort Knox – namely the Premier League’s top four.”

To win the Premier League – Betfair bet: 11-8 Chelsea, 2-1 Man United,. 7-1 Arsenal, 9-1 Liverpool, 54-1 Man City, 179-1 Tottenham, 269-1 Aston Villa.

Man City: 11-2 to finish in top four, 11-10 to finish in top six.

20 August, 2008

Betfair Announces Appointment of New CEO

Betfair Australia today announced the appointment of Andrew Twaits as its new Chief Executive Officer, commencing on 16 October.  This follows the announcement by Crown Limited earlier today that Anthony Klok, Betfair’s Chief Executive Officer since December 2006, will be joining Crown in mid-October as their new International Business Development Director.

Chairman and co-founder of Betfair, Edward Wray, said; “Anthony moved across to Betfair on secondment from PBL in 2006 to guide the initial stages of Betfair’s establishment in the Australian wagering landscape. He will leave his position as CEO with the knowledge that Betfair is well placed to achieve its objectives in the Australian market.  While we’ll be sad to see Anthony go, we’re delighted that he will retain a role in the business by staying on the company’s Board.”

Andrew Twaits has been Betfair’s Director of Corporate and Business Affairs in Australia since April 2005.  He is a former lawyer and was a General Manager at Cricket Australia.

Mr Wray added; “Andrew has been crucial to the company’s continued growth in Australia over the last four years and is the natural successor to Anthony. He has worked alongside Anthony for the last two years and was the obvious choice to guide Betfair through the next stage of its development.

“The Australian wagering market is entering an exciting period and the Board is very confident in the ability of Andrew and the rest of the team to help Betfair realize its potential in this market.”

10 July, 2008

BETFAIR AND SPORTINGBET AUSTRALIA CHALLENGE NSW ADVERTISING RESTRICTIONS

Betfair and Sportingbet Australia today issued proceedings in the Federal Court of Australia challenging the validity of laws in NSW that prevent interstate licensed wagering companies from advertising in the State.

“We believe the laws are protectionist. What’s more, they’re depriving racing clubs and other stakeholders of a natural revenue stream in the form of advertising and sponsorship,” said Andrew Twaits, Betfair’s Director of Corporate and Business Affairs.

Michael Sullivan, CEO of Sportingbet Australia agreed.

“We believe this legislation is fundamentally flawed and it contradicts the spirit of business in Australia by restricting fair and open trade between the states,” he said.

“At a fundamental grass roots level, the NSW advertising ban against interstate wagering operators stops the punter from seeing the full picture,” said Mr Sullivan.

The NSW government is, for the first time, asking all interstate TABs, bookmakers and betting exchanges to pay for the right to cover NSW racing.

“We’re happy to pay a fair fee to the racing industry, but we have to be able to compete on a level playing field,” Mr Twaits said.

“The wagering landscape in Australia has changed dramatically and so have consumer preferences. If racing wants to compete with the myriad gambling options available, then the governing bodies must embrace competition and move with the times,” Mr Sullivan said.

18 June, 2008

Aussie horses double the value on Betfair

Australian punters got the better of their international counterparts overnight when backing Haradasun at 6.00 on Betfair’s global betting exchange to win the Queen Anne Stakes at Royal Ascot. The price represented nearly 100% better value than what was available with Australian TABs.

After losing his position mid-race, Haradasun was matched on Betfair at a staggering $55 on Betfair’s in-running market. A total of over $5 million was matched on the race.

Betfair spokesperson Jake Norton said: “In races such as the Queen Anne Stakes, the great thing about betting into truly global markets such as Betfair’s is that prices are less subject to parochialism.

“The flood of money from Australian Betfair customers wanting to back the Aussie runners was offset by overseas customers happy to lay them in favour of the local horses.

“The experience was the same through the UK Tote’s exotic markets, which can also be accessed directly through the Betfair site.

“Takeover Target backs up to run in Saturday’s Golden Jubilee Stakes at Ascot. He can currently be backed to win at $5.80 in Betfair’s market.”

14 June, 2008

GERMANY-CROATIA GAME IS BIGGEST FOOTBALL MATCH IN BETFAIR HISTORY

£22,948,364.46 MATCHED IN 90-MINUTE MARKET ALONE

WHEN asked, back in November, how will the absence of the home nations affect Euro 2008 turnover, one bookmaker replied: “I'd expect it to be down at least 40 per cent.”

We will spare the layer in question’s blushes, but that comment was proved mere pie in the sky as Betfair report that last night’s match between Germany and Croatia saw an unbelievable £22,948,364.46 traded on the 90-minute market alone.

That made it the biggest football match in Betfair’s eight-year history, by some distance.

The previous biggest football match odds market on the exchange was the Argentina-Mexico game in the 2006 World Cup, which saw £21,238,326.48 in traded volume.

But, despite an early evening, midweek kick-off, and a relatively low-key match where the lead didn’t change hands, last night’s Germany-Croatia game, won 2-1 by the underdogs, produced unheard of figures on the betting exchange.

Betfair spokesman Tony Calvin observed:  “It could well be that, given that the absence of the home nations, that some UK-centric bookmakers levels of turnover are indeed markedly down.

“But, given our extensive and growing worldwide client base – one in two of our new customers are non UK-based – Betfair were always confident of a vibrant Euro 2008.

“However, it must be said that we have been slightly taken aback by the huge interest in the tournament, and to see our biggest-ever market eclipsed so early in the tournament is phenomenally exciting for our football product.

“If Betfair is any barometer of the industry turnover, then this is set to be the biggest football tournament in betting history.”

11 June, 2008

HEAD REPLACES HEART AS UK & IRE PUNTERS CLEAN UP AT EURO 2008

Home bettors £2m in black as Italians suffer double-whammy

THEY may not be represented in the tournament but dispassionate UK and Ireland punters are helping to ease the credit crunch - by cleaning up during the first three days of the European Championships.

Home bettors, ruled by their heads rather than their hearts for once, are over £2million pounds in profit on Betfair’s Euro 2008 markets. Betfair customers ‘back’ and ‘lay’ bets through the exchange which means bets are matched by other Betfair account holders throughout the world.

Their European counterparts however are having less luck, with Italian punters in particular having more reason to crying than most. Not only did The Azzurri suffer a shock 3-0 defeat against the Dutch, but Betfair’s Italian customers were almost £½million out of pocket after the World Champions’ match with Marco van Basten’s side. Their punters are almost £600,000 down for the tournament so far.

Compared to UK and Ireland customers, the rest of Europe has overall losses of £50,000 on Euro 2008 markets. And Betfair punters from the rest of the world are also showing a lack of knowledge about European football, down almost £2million, with Asia performing particularly badly.

Betfair’s Director of Football Paul Witten, said: “Home Nation punters often bet emotionally and back their own countries to win. But having missed out on qualification for Euro 2008, UK and Ireland customers are betting with their heads rather than their hearts – and it seems to be doing the trick.

“The rest of Europe meanwhile is showing strong support for their own teams which is great when you win. But a 3-0 defeat like Italy suffered against Holland meant there were plenty of Italian tears before bedtime.

“All in all though, it’s great news for our UK and Ireland customers who finally have something to cheer this summer. Their countries might not be competing in Austria and Switzerland, but they are in net profit in the betting markets.” 

4 June, 2008

BETFAIR COMPUTER PREDICTS QUARTER-FINAL FAILURE FOR ENGLAND – ON PENALTIES

Anti-fraud technology tips Spain for Euro2008 glory

EVER wondered what might have been had Scott Carson not suffered his Wembley nightmare against Croatia back in November and England qualified for Euro 2008?

Well torment yourself no more because Betfair’s anti-fraud computer has calculated that Steve McClaren’s men would have crashed out in the last eight of a major tournament yet again!

Nicknamed ‘Victor the Predictor’, the Betfair machine was fed details of every international football match since 1998 and concluded that, had England qualified instead of Russia, their campaign would have ended in a quarter-final defeat by the Netherlands. However with the ‘draw’ the most probable outcome over 90 minutes, Victor decided that the Dutch would go through on penalties.*

‘Victor’ operates a ‘neural network’ meaning that it teaches itself rather than being programmed. Given a host of variables for every international game over the last ten years, it predicts the result before being told the actual result. The computer then learns from any mistakes – if only Steve McClaren could have done the same.

Jamie Morrell, Head of Innovation at Betfair, said: “We built ‘Victor’ to help our fraud team detect when the odds for a sporting event are not what they should be. Football fans like to know what might have been, so we asked Victor to predict what would happen if England had made it to Euro2008. Ironically the result was something England fans could have predicted themselves!”

Meanwhile the punters might have Germany as the 4-1 favourites to win Euro2008, but ‘Victor’ says the betting public have got it wrong and it’s Spain that will put decades of near-misses behind them and claim the title. The computer says the Spaniards will beat the Germans in the final on Sunday 29th June.

Morrell commented: “Because Victor teaches himself, we’re not precisely sure how he makes his predictions. All I can say is, since we started using Victor last autumn to predict the odds on football matches, he’s been very accurate. So Germany might be the punters choice but, on Victor’s recommendation, I’m having a wager on Spain as the value bet.”

Victor’s full predictions for Euro2008 are available at Betfair Labs on: http://labs.betfair.com/Project+and+Discussion+Viewer/?contentId=648

Current Betfair prices:-

Outright Winner Euro 2008 – Betfair bet: 4-1 Germany, 6-1 Spain, 7-1 Italy, 8-1 Portugal, 9-1 France, 27-2 Netherlands, 31-2 Croatia, 25-1 Czech Rep., 26-1 Russia, 31-1 Greece, 33-1 Switzerland, 49-1 Sweden, 54-1 Romania, 74-1 Turkey, 79-1 Poland, 119-1 Austria.

Notes to Editors:

* ‘Victor’ predicted wins and draws for group games, but where a draw was predicted at the knockout stage the marginal odds favourite was progressed through on penalties.

Since last autumn 2007 Betfair’s anti-fraud team have used ‘Victor’ to flag up when the betting on a football match is not what it should be. It means our team don’t have to be experts on Argentine league football for example, to ‘know’ when something is wrong with a particular betting market.

‘Victor’ was given information on a number of variables, such as which team was playing at home, whether it was a friendly or a competitive game, whether it was played during a group or knockout stage, how long since a group of players had last played together, as well as a number of other key details on which to base ‘his’ prediction.

29 May, 2008

Movements on the managerial merry-go-round make Mancini hot favourite for Chelsea hotseat

ROBERTO Mancini is the clear favourite with Betfair customers at just over 2-1 in the betting for the next Chelsea manager after the market took another twist today.

The former Italian international was reported to have been fired by Inter Milan yesterday in a move that should pave the way for Jose Mourinho to take the helm in the blue half of the San Siro.

Mancini, who has been backed at 28-1, is now said to be on a shortlist for the vacant position at Stamford Bridge with Mark Hughes (5-1), Luis Scolari (7-1) and Frank Rijkaard (8-1).

Alongside Mourinho (out to 69-1), Guus Hiddink has been the big drifter in the market – from a low of 11-4 the Dutch manager is now available to back at 14-1.

Didier Deschamps, Sven Goran Eriksson and Carlo Ancelotti lead the second division of contenders for the club that ‘does not accept second best’

Next Chelsea manager – Betfair Bet: 2-1 Roberto Mancini; 5-1 Mark Hughes; 7-1 Luis Scolari; 8-1 Frank Rijkaard; 14-1 Guus Hiddink; 19-1 Sven Goran Eriksson; 23-1 Carlo Ancelotti; 26-1 Didier Deschamps; 43-1 Michael Laudrup; 49-1 Marcelo Lippi; 64-1 Marco Van Basten; 69-1 Jose Mourinho.

18 May, 2008

Highlanders cause biggest shock of Super 14 by beating Crusaders

IT looked to be business as usual when table-toppers Canterbury scored an early try against the 12th-placed Highlanders today, but the underdogs went on to secure the shock result of the Super 14 season by winning 26-14.

At 5-0 up, the Crusaders traded at 1.04 in the Betfair match odds market and at 1.44 on the -17.5 points handicap line, but they went in trailing at half-time – scuppering those on the Canterbury ht-ft result at odds as low as 1.17 – and didn’t have too much difficulty in holding on for the unexpected win.

The Highlanders were matched at a high of 16 to win the match on Betfair.

27 April, 2008

699-1 Fulham come from behind to win 3-2 at Man City

FULHAM were backed at a record-breaking 699-1 on Betfair en route to an amazing 3-2 win at Manchester City this afternoon.

Betfair spokesman Tony Calvin commented: “We have had teams that have been backed at bigger prices in-running on Betfair and won - but not in the Premiership.

“It’s a record win as far as Premiership betting is concerned.”

IN-RUNNING BETTING DETAILS OF TODAY;S PREMIERSHIP MATCHES BELOW:

Man City (2) v Fulham (3)

• Man City traded at a low of 1-50 when 2-0 up

• Draw traded at 43-1

• Fulham drift to 699-1 (£1 matched at that price; with prices also taken including at 689-1, 509-1, 499-1, 489-1 and 409-1 and all rates matched thereafter down from 349-1 for far bigger size)

• Fulham equalize and draw trades at a low of 1-8

• Fulham win 3-2 in extra time

Birmingham (2) v Liverpool (2)

• Birmingham traded at a low of 1-11 at 2-0 up

• Draw traded at a high of 12-1

Tottenham (1) v Bolton (1)

• Bolton trade at 10-11 when 1-0 up

• Draw trades at a high of 3-1

Sunderland (3) v Middlesbrough (2)

• Sunderland trade at 2-7 when 2-1 up

• Boro equalise and draw trades at 1-18

• Sunderland, who drifted to 12-1, net late winner

West Ham (2) v Newcastle (2)

• West Ham trade at 1-7 when 2-0 up

• Draw trades at a high of 19-2

Wigan (0) v Reading (0)

• Draw trades at a high of 11-4

23 April, 2008

LIVERPOOL BACKED AT THE MINIMUM PRICE OF 1-100 ON BETFAIR BEFORE LAST-MINUTE SHOCKER

But draw is backed at 99-1 and 149-1 correct score glee for winning punter

A heartbreaking last-minute own-goal from John Arne Riise saw punting carnage on Betfair tonight, with winners and losers aplenty on the betting exchange, as Liverpool drew 1-1 with Chelsea.

Here are the betting facts and figures on the match on Betfair:

• A total of £40,614 was backed on Liverpool at the minimum price of 1-100 on Betfair to win the match, with nearly £300,000 traded at odds of 1-33 and shorter.

• The draw was backed at 99-1 on Betfair.

• The 1-0 scoreline was backed at a low of 1-100 on Betfair.

• One Betfair punter managed to secure odds of 149-1 about the 1-1 correct score.

• More than £4,500 was traded at 1-100 on there being less than two goals in the match.

Betfair spokesman Tony Calvin commented: “Beaten 1-100 chances in match odds soccer markets are as rare as an Avram Grant smile – but we had both tonight when that own goal went in.

“And those Betfair punters who backed the draw at 99-1 and the correct score of 1-1 at 149-1 will certainly have followed suit.”

7 April, 2008

Media Release

TOTE TASMANIA AND BETFAIR RELATIONSHIP EXPANDS FOR BENEFIT OF INDUSTRY

TOTE Tasmania has entered into an agency agreement with Betfair that will provide it with access to Betfair’s global customer base of more than one million punters.

The arrangement is anticipated to add tens of millions of dollars to The TOTE’s annual turnover.

TOTE Tasmania Chief Executive Officer Craig Coleman said the increased turnover would ultimately benefit the Racing Industry through increased returns from 2009/10.

Mr Coleman said under the agency agreement, Betfair’s customers would be given the opportunity to bet on The TOTE products.

“When you add this to TOTE Tasmania’s own plans for growth, the additional funding will help to secure the future of what is already a strong and vibrant Tasmanian racing.”

Mr Coleman said TOTE Tasmania and Betfair shared the view that the new relationship was a logical step for the national industry to offer wagering services to a new set of international customers.

“It is worth noting that Tasmania is the only jurisdiction in Australia whose licensed wagering companies are allowed to advertise in the UK,” he said.

“Betfair already has more than one million registered customers in the UK which it can market Australian racing to immediately.”

“We’ve always maintained that Betfair’s exchange products complement those of the traditional operators,” said Betfair Chief Executive Officer, Anthony Klok.

“This agreement enables us to leverage our technology and online distribution expertise to better meet the needs of our customers,” he said.

Betfair customers will now have the convenience of being able to bet on a broader range of products from their existing Betfair account.

Speech notes – Craig Coleman, CEO TOTE Tasmania

Betfair agency announcement

Minister for Racing Michael Aird, racing industry representatives, ladies and gentlemen.

Today we are making an important joint announcement with Betfair that has enormous, positive implications for the Tasmanian racing industry going forward.

I am pleased to announce that TOTE Tasmania has entered into an agency agreement with Betfair that will provide us with access via a web site link to Betfair’s global customer-base of more than one million punters.

The arrangement is expected to add tens of millions of dollars to The TOTE’s annual turnover – increased turnover that will ultimately benefit the racing industry through increased returns from the 2009/2010 financial year.

Under this innovative arrangement, Betfair’s existing customers will be given the opportunity to bet on TOTE Tasmania products online directly from their Betfair accounts.

The web site linking Betfair’s customers to TOTE Tasmania is expected to be operational in early May this year.

In my discussions with Betfair, I know that we share the view that this agency relationship was the obvious step for us to take together.

And it’s a logical step for the national industry to offer wagering services to a new set of international customers that will allow us to grow our industry further.

It’s important to note here that Tasmania is the only jurisdiction in Australia whose licensed wagering companies are allowed to advertise in the UK.

Betfair already has more than one million registered customers in the UK which it can market Australian racing to immediately.

TOTE Tasmania views today’s announcement as a very positive one for the Tasmanian racing industry.

And we look forward to working closely with Betfair on the further development of the agency relationship and other mutually beneficial opportunities.

Speech notes for Michael Aird, Minister for Racing

Betfair agency announcement

TOTE Tasmania Chairman Michael Kent, members of the TOTE Tasmania Board, CEO Craig Coleman, representatives of the Tasmanian racing industry, ladies and gentlemen.

I am very pleased to be here today officiating as Racing Minister to announce this important development for TOTE Tasmania, Betfair and, perhaps most importantly from the Tasmanian Government’s perspective, the Tasmanian racing industry.

This government is a proud and strong supporter of the Tasmanian racing industry and remains committed to ensuring a prosperous future for its many participants.

It’s a matter of public record that we have been a strong supporter of the industry for many years.

Before licensing Betfair in Tasmania, the government undertook a comprehensive investigation of the potential impact on the industry.

The government took the decision to licence the betting exchange seeing it as an opportunity too good to miss that would not only assist to guarantee the future of the industry, but the livelihoods of the many Tasmanian families directly and indirectly involved.

At the time we said the direct financial benefits to the industry would be significant. This has proven to be correct.

These benefits now being experienced were in contrast to the previous situation where Betfair was accessible in Australia via the internet, but without the framework to provide funding to the racing industry and without being subject to regulation.

I am pleased to be able to say that the Tasmanian Government was the first to licence a betting exchange in Australia.

And I am just as pleased to now congratulate TOTE Tasmania which has become the first Australian TAB to enter into an agency arrangement with Betfair – an arrangement that will open the Australian racing industry to about one million Betfair customers around the world.

Betfair’s presence in Tasmania today is not just benefiting the Tasmanian racing industry.

In addition to the additional monies being passed onto racing industry participants through increased stakes and Betfair’s sponsorship of local racing clubs, it is also sponsoring other non-racing clubs and organisations which is benefiting the broader Tasmanian community.

Our key concern throughout the Betfair negotiations was always the future of the Tasmanian racing industry – and I am very confident that today’s announcement will help to further secure that future.

The Tasmanian racing industry will be the big winner, as the agency arrangement will bring the benefits of new off shore international turnover on Australian racing into Tasmania.

As a result, the broader Tasmanian economy will also benefit through increased monies being reinvested into the Tasmanian racing industry and the communities in all parts of the state in which it operates.

Today’s announcement is an exciting development in racing and is welcomed by the government.

We look forward to seeing the industry develop further in the short to medium-term future and build on the development plans already in place under TOTE Tasmania’s leadership.

April 7, 2008

Betfair / Tote Tasmania – Agency Agreement

Q & A’s

1. Who is Tote Tasmania?

Tote Tasmania is the licensed totalisator in Tasmania. Tote Tasmania is a participant

in the SuperTAB pool.

2. When will customers be able to start betting on Tote products?

At this stage we expect the service to launch towards the end of next month. As

development work nears completion, we will provide launch updates on our

homepage: http://austote.betfair.com.au/

3. How will Betfair customers go about placing bets on Tote Tasmania’s

products?

Customers will log in to Betfair and navigate to a page on the Betfair site that offers

a live interface to a specially-developed Tote Tasmania interface. From there, they

will be able to place bets using funds held in their Betfair account.

4. Will customers receive the Tote Tasmania (SuperTAB) dividends?

Yes. The dividends customers receive will be the same as those that would have

been received had the bet been placed directly with Tote Tasmania or any of the

other SuperTAB operators.

5. Will Betfair charge commission on customers’ winnings on bets placed on

Tote Tasmania products?

No.

6. Do customers have to open up a new account to bet on Tote products?

No. Customers will be able to bet on the Tote products if they have already satisfied

Betfair’s account-opening requirements, including relevant age and identity

verification processes (e.g. the 100-point check).

7. Why does Betfair want to offer Tote/TAB products to its customers?

We have always maintained that our betting exchange was complementary to the

products offered by the Tote/TABs. This arrangement helps us move towards being

a ”one stop shop” for internet wagering. We think the convenience of being able to

bet on the full suite of Tote and exchange products from a single account will be

attractive to many of our racing customers.

8. Does this mean Betfair now has a tote/TAB licence?

No. Betfair does not require a tote/TAB licence because it is not operating its own

tote/TAB. It is simply acting as an agent for Tote Tasmania to help distribute the

Tote’s existing products.

9. How many customers does Betfair have?

Betfair has more than 1.1 million active customers worldwide. Approximately 15,000

of those customers are in Australia.

10. How will this deal help the racing industry?

Whenever any of our customers – whether they live in Australia or overseas – bet on

Tote Tasmania’s products, revenue will be generated for Tote Tasmania to help

support the racing industry.

11. How are taxes and returns to the industry (e.g. product fees) calculated on revenue generated through Betfair’s customers betting on Tote Tasmania’s

products?

For the purposes of calculating taxes and product fees to the industry, revenue

generated through the arrangement is treated in exactly the same way as if the bets

were placed directly with Tote Tasmania.

12. Will Betfair make any money out of this arrangement?

Yes. Betfair will receive a share of net revenue for acting as Tote Tasmania’s agent.

The commercial details of the arrangement are confidential.

13. Will Betfair be promoting the Tote’s products to its overseas customers?

Yes. Betfair already promotes Australian racing to its overseas customers.

Approximately 25% of all customers betting on Australian racing are from overseas.

Tasmania is the only jurisdiction in Australia whose licensed wagering operators

(such as Betfair) are able to advertise in the UK.

14. Is the agreement exclusive?

From Betfair’s perspective the agency agreement is exclusive insofar as other

Australian participants in the SuperTAB pool are concerned. However, there is

nothing stopping Betfair entering into similar agreements with operators of other

TAB pools here and overseas. For example, Betfair already has a similar agreement

in place with the UK Tote.

15. Does the agreement allow Tote Tasmania to offer Betfair markets on its

site?

No. The agreement relates solely to Betfair acting as the Tote’s agent for the

purpose of helping to distribute the Tote’s products.

16. Is it legal for people to bet with Betfair (on either the exchange or the

Tote products) throughout Australia?

Yes. Punters in every State of Australia are legally permitted to bet with Betfair on

both its exchange products and any Tote products it offers on Tote Tasmania’s

behalf.

17. Does this agreement mean that Betfair is losing interest in its betting

exchange in Australia?

Definitely not. We have always said that our betting exchange complements the

products offered by the Tote/TABs and this agreement represents our faith in that

proposition. Betfair’s betting exchange is currently growing at approximately 30% -

even without the ability to advertise throughout mainland Australia. We see this

arrangement as a step towards our aim of offering a full suite of wagering products

to our customers through a more convenient and robust technical interface.

18. What gaps will the arrangement fill in Betfair’s existing product offering?

The arrangement will mean that our customers can bet on exotic products (e.g.

trifectas and quinellas) from their existing Betfair accounts. Betfair’s exchange isn’t

really suited to offering exotic products so this meets an existing customer need that

we aren’t equipped to address through the exchange. In addition, it will put our

customers in a better position to place their win/place bets through the exchange or

the Tote – depending on where they see the opportunity.

19. What products offered by Tote Tasmania will be available to Betfair

customers?

a. Win and Place

b. Quinellas

c. Exactas

d. Trifectas

e. Doubles

f. Quadrellas

20. Who is bearing the costs associated with the arrangement?

The cost associated with development of the interface and its promotion to

customers is being borne by Betfair. The arrangement carries no financial risk to

Tote Tasmania.

21. Is the agency arrangement a step towards Betfair acquiring Tote

Tasmania?

No. As far as we know, Tote Tasmania isn’t for sale.

22. Does this agreement represent a step towards Betfair looking to bid for

the wagering licence in Victoria?

No. Betfair currently has no plans to bid for the Victorian wagering licence.

23. Does Betfair need separate approval from interstate racing bodies to offer

Tote bets on their races?

No. Betfair is simply acting as a distribution agent of Tote Tasmania. To the extent

Tote Tasmania has approval to offer bets on certain races, Betfair is also able to

facilitate bets on relevant Tote markets.

24. Will racing stewards and regulators have access to details of bets placed

through the Betfair Tote interface?

Yes.

25. Will bets placed on Tote products affect commission paid on exchange

bets?

No. Bets placed on Tote products will be quarantined from a commission

perspective. That is, customers will not pay commission on winning Tote bets but

any losing Tote bets will not be used to offset winning bets on corresponding

exchange markets.

26. Will bets placed on Tote products accrue Betfair Points?

Yes. Details will be advised to customers prior to launch.

April 7, 2008

Betfair Basics

1. Betfair is the world’s leading betting exchange. It is headquartered in London

(where it was founded in June 2000) and, since February 2006, has operated its

second global exchange hub from Tasmania, where it is also licensed.

2. Betfair now employs more than 1,500 people worldwide, 100 of whom are in

Australia (mostly based in Hobart, Tasmania).

3. Betfair’s Australian operations are a 50:50 joint venture between Betfair UK (a

privately held group of companies) and Crown Limited (listed on the ASX). The board

of directors comprises: Edward Wray (co-founder and group chairman), Greg

Nichols, Geoff Kleeman and Anthony Klok (CEO).

4. Betfair has over 1.1 million active customers worldwide. The group now processes

more than 15 million bets a day at peak times in the racing and sporting calendar.

5. Tasmania is the only jurisdiction in Australia that has been approved by the UK

government for the purpose of its licensed wagering operators (including Betfair)

advertising in the UK. Because Betfair pays product fees on Australian racing events

to the industry (and has similar arrangements with the major professional sporting

bodies in Australia), this represents a key opportunity for Australian racing and

sporting codes to directly benefit from overseas customers betting on their events.

6. A betting exchange is a relatively new way for punters to wager on racing and

sporting events. Traditionally, wagering was limited to bookmakers and TABs. The

betting exchange relies on leading-edge technology to create a virtual market place

for punters where they effectively bet amongst themselves on markets set and

administered by Betfair. It operates in a similar way to the stock exchange.

7. Betfair is almost exclusively an online operator (around 3% of bets are taken over

the phone) and its racing markets are generally limited to win and place. Betfair

does not have retail operations (which account for between 75-85% of all TAB sales)

and does not offer exotic markets (which account for around 30-35% of TAB sales).

8. It is legal for Betfair to operate throughout Australia. This means that Betfair can

take bets from customers in every State and Territory.

Thursday 27th March

High Court Upholds Betfair’s Claim

In a judgement handed down this morning, the High Court of Australia has struck down the anti-betting exchange laws enacted by the Western Australian government in late 2006.

The laws operated to prevent people in Western Australia from using a licensed betting exchange.  They also operated to prevent a licensed betting exchange from offering markets on Western Australian races.

In a unanimous decision, the Court declared that the laws were invalid because they contravened section 92 of the Commonwealth Constitution – the provision that guarantees free trade across State boundaries.

The decision means that people in Western Australia can immediately resume betting with Betfair, Australia’s only licensed betting exchange.  It also enables Betfair to immediately resume offering markets on Western Australian races.

Betfair’s CEO, Anthony Klok, said, “We’re very pleased with the result and we’re sure our customers will be delighted.  Apart from the lifting of an unfair commercial restraint on our business, it opens the door for us to establish a formal relationship with the Western Australian racing industry.”

Betfair issued the current proceedings in the High Court’s original jurisdiction (i.e. without going through the lower courts) on 29 January 2007.  Every State and the Commonwealth intervened in the proceedings.  The hearing lasted for 3½ days.  There is no avenue for appealing the High Court’s decision.

Mr Klok said that Betfair had approximately 1,600 registered customers in Western Australia. “These customers have been prevented from transacting with Betfair since the laws took effect,” he said. “We look forward to welcoming these customers – and many more West Australians – back to Betfair.”