19 July, 2010

The British Open Results: Louis "Shrek" Oosthuizen matched at the monster price of 990

Louis Oosthuizen played the final round of this year's Open like he's been relentlessly winning Majors for the last decade, despite being dismissed as just yet another no-hoper at the start of the tournament, when he was matched at odds of 990.0 on Betfair.

The South African, who had only ever won one tournament outside his native country before this week made a name for himself in this event during the second round when he overtook Rory McIlroy at the top of the leaderboard. That effort was dismissed by many as little more than a fluke in which he benefited from the best of the conditions and he was still available at some tasty prices at that stage. But the man they call "Shrek" hardly put a foot wrong during his last three rounds and ended up winning the tournament by an incredible seven shots with Lee Westwood second and Paul Casey, Henrik Stenson and McIlroy tied for third.

Casey traded at a low of 2.6, Tiger Woods briefly touched 3.7 when going well on the opening day and McIlroy at just 4.1 after that storming start. Despite his nightmare second round, the young Irishman will look back at this week as a positive step in his Majors' career with a fine Top 5 finish after drifting to 13.5 in that market at the end of Friday's round. South Africa was matched at odds of 25.0 on the winning nationality market; a winning margin of 5 strokes or more was matched at a high of 9.0.

18 July, 2010

PARRAMATTA WINS AFTER BLOWING TO $23 AGAINST PENRITH

EELS OUT TO $10.50 TO MAKE FINALS AND $38 TO WIN PREMIERSHIP WHEN 22-NIL DOWN

Parramatta has completed one of its greatest ever comebacks tonight, beating Penrith 34-28 after being backed on Betfair at $23 to win when trailing 22-nil in the first half.

The Eels started as $2.55 outsiders against the Panthers at $1.55, and blew to $3.10 after conceding the first try of the match to Brad Tighe in the 2^nd minute, $6 when Lachlan Coote scored after 10 minutes and then $12 after Michael Gordon scored to make it 16-nil in favour of the Panthers.

Michael Jennings try in the 20^th minute saw Penrith skip out to a 22-nil advantage when they were backed at $1.03 on Betfair.

At that same stage of play, the Eels were given virtually no hope of victory and were backed at $23 to win the match.

But more remarkable is that punters on Betfair believed Parramatta’s season was virtually over and offered $10.50 about them making the top eight and $38 to win the NRL premiership at that same stage of tonight’s match.

This remarkable comeback is put into context when you consider that just 36 minutes later the Eels $1.70 favourites for tonight’s match when Luke Burt converted Krisnan Inu’s 54^th minute try to put last year’s grand finalists 24-22 ahead.

Betfair’s Mathew Thompson said: “What an incredible game, and even more enjoyable for any Eels fans who snapped up the $23 that punters on Betfair offered about their team in-play when they trailed 22-nil in the first half.

“Punters think this match could make the Eels season. They blew to $10.50 to just make the top eight when they were down 22-nil this evening and were out to $38 to win the premiership.

“As it stands now, Daniel Anderson’s team is the joint fifth favourite to win the title at $11.”

12 July, 2010

BETFAIR PUNTERS WAGER MORE THAN $2 BILLION ON WORLD CUP MATCHES

Betfair punters in more than 50 countries have provided further evidence the World Cup is the biggest sporting event on earth by betting, on average, more than $30 million (AUD) on each of the 64 World Cup matches and trading close to $2 billion (AUD) while the matches were in-play.

More than 150,000 customers had a bet on Betfair’s 2,500 World Cup markets. 

Betfair punters traded over $225 million in the two most popular World Cup markets alone; the World Cup winner’s market and World Cup Final.

The World Cup winner’s market attracted more than $160 million, while $66 million was traded in head-to-head betting on the World Cup final between Spain and The Netherlands.

The tournament also reinforced the strength of Betfair’s dynamic in-play betting product. Close to $2 billion was wagered during World Cup matches with more than $50 million of the money traded on the Final bet between the first and the last whistle.

Betfair’s Mathew Thompson said: “Punters have reinforced their love for World Cup betting and the growing appetite for sports betting. Punting attitudes are changing and we are seeing a dramatic swing to in-play betting.

“Individual match markets indicate we have doubled the volume of the 2006 tournament, which at the time also broke company records.

The activity reflects the extraordinary interest from punters and reinforces Betfair’s standing as a truly global betting company.”

1 July, 2010

WOODS TO WIN BRITISH OPEN

MONEY FLOODS IN THREE-TIMES CHAMPION TO BOUNCE BACK AT ST ANDREWS

Out of form and battling personal crisis, world number one Tiger Woods is back in favour with punters as he prepares his campaign for a fourth British Open victory later this month. 

Convinced that a return to St. Andrews will inspire Woods to a vintage display, punters on Betfair have rallied behind the three-times Open champion, backing him from $7.80 into a current price of $5.40 favourite.

Until now, punters have shied away from Tiger during his comeback, so much in fact that he hasn’t started favourite in any tournament he’s contested this year.

But punters on Betfair, Australia’s only licensed betting exchange with customers in more than 50 countries, believe the 2010 Open Championship is at Woods mercy on a course where he’s won two of his three claret jugs and shot the lowest overall score in the history of all major championships, -19 in 2000.

Betfair’s Mathew Thompson said: “Tiger showed some encouraging signs at the US Open by finishing tied for fourth, and that performance has convinced punters across the world that the world’s number one is ready to win again.

“If this was a horse race, Tiger would be running around at $1.80. He dominates St. Andrews like no other player in the games history. He’s won the Open twice at the course and shot a world record, -19 back in 2000.

“Punters believe the pot bunkers and smell of Scottish Haggis flowing across the Old Course will see him click into gear. If he’s anywhere near his best Tiger will make it major win number 15.”

At $5.40, Woods is the only player in the Open field in single figures. Phil Mickelson, who’s actually started favourite ahead of Tigers at the Masters and US Open, is now at $17 while Lee Westwood is the punters third pick at $19.

Young gun Rory McIllroy is at $21 ahead of former champions Padraig Harrington and Ernie Els at $25.

Money has also come in Betfair’s ‘Tiger 2010 major wins’ market, where Woods has firmed in from $8 to $3.65 to win one major tournament this year. He is also a $15.50 chance to win the two remaining majors, the Open and the USPGA later this year.

10 June, 2010

ENGLAND PUNTERS DEATH RIDE THEIR OWN TEAM IN WORLD CUP

More English money on England to lose in South Africa than lift the trophy

Having tasted World Cup glory just once in 1966, one would expect England football fans to rally behind their national side’s bid for glory in South Africa this year.

But in what some would regard as a blatant disregard of loyalty, UK based punters on Betfair have invested more money on their team to lose the 2010 World Cup than win the tournament. Perhaps the perennial disappointment of witnessing their country fail on the biggest stage in world sport has convinced England fans 2010 will only bring another pressure induced, premature exit.

In an overwhelming vote of ‘no confidence’ in Fabio Capello and his chargers, UK based Betfair punters have invested 15% more money on England to lose the World Cup than they have to win the showpiece. To put this in greater perspective, Australian based Socceroos punters have wagered six-times the volume on their side to win the World Cup than they have to lose it. That’s despite the fact the Socceroos are currently $220 to win the tournament.

Betfair’s Mathew Thompson said: “I understand how disappointing it is being an England sports fan, but surely they can cast aside years of torture inflicted upon them by any number of England national teams and offer some support for the national football side in a World Cup.

“England fans obviously believe their side is under the odds at $8.80. In fact, they’ve been as short as $6.80 to win the World Cup, but injuries and indecision about their team make-up has seen even their own fans turn on them.  

“God bless the immensely loyal Socceroos supporters. They’re $220 to win the World Cup, and probably stand little chance to do so, but Australian based Betfair punters have invested significantly more on Lucas Neill’s side to win then they have to lose.”

Betfair is the world’s biggest betting exchange with more than two-million customers in the UK and close to 150,000 in Australia. Betfair provides a platform for punters to bet against each other at the prices they choose, and this format of wagering ensures Betfair markets are an accurate reflection of a specific team’s chances.

With a staggering $26 million dollars already wagered in Betfair’s World Cup winner market, Spain is the current $5 favourite to win the World Cup, ahead of Brazil at $5.90, Argentina at $8.60 and then England at $8.80. The 2006 champions Italy are currently at $18.50.

Australia’s first opponents, Germany, are $15.50 sixth-picks to win the World Cup. Fellow group G opponents Serbia are at $70 while Ghana is rated a $210 chance, marginally ahead of Australia at $220.

6 May, 2010

MICKELSON OUSTS TIGER AS PGA FAVOURITE

FIRST TIME IN A DECADE WOODS ISN’T THE PUNTER’S PICK

For the first time in at least ten-years, the world’s number one golfer Tiger Woods won’t start as the favourite for a professional tour event on Betfair.

Woods has been ousted as the favourite for this week’s Players Championship at TPC Sawgrass in Florida by Phil Mickelson, the man on the verge of capturing his top ranking and the $9.40 favourite on Betfair ahead of Woods at $9.60.

“It’s the first time since Betfair’s inception in June 2000 that Woods hasn’t been favourite when he’s contested a professional tour event,” said Mathew Thompson.

“Having suffered the embarrassment of missing the cut at Quali Hollow last week, for just the sixth time in his professional career, our punters have deserted the man who’s been their best friend for the last 14 years. They’re offering $3.80 for Woods to just finish in the top-five.”

Mickelson, $3.25 to make the top five, can become to top ranked player in the world if he wins at Sawgrass and Woods finishes outside the top five.

The extent to which the punters have shunned Tiger is put into perspective when you consider he started the $2.72 favourite to win the 2009 US Masters.

4 May, 2010

PUNTERS WAGER DOUBLE ON SNOOKER WORLD CHAMPIONSHIP FINAL THAN LAST YEAR’S MELBOURNE CUP

AUSSIE ROBERTSON MATCHED AT $85 BEFORE MAKING HISTORY

Australian’s have been enveloped in snooker fever this morning as 28 year-old Melbourne man Neil Robertson became the first Australian since Horace Lindrum in 1952 to win the Snooker World Championship, prompting punters to wager more on that single match than on last year’s Melbourne Cup.

Betting on the final between the man dubbed ‘the Shane Warne of snooker’ and Scotland’s Graeme Dott reached staggering levels on Betfair, the world’s biggest betting exchange and the only exchange to be licensed in Australia, with $10,348,576 million matched on the epic match-up. Betfair has customers in over 50 countries and more than 1.5 million customers in the UK.

Giving context to the astounding volume traded on the final, Betfair matched $5.1 million on last year’s Melbourne Cup, meaning the Robertson v Dott decider attracted double the volume wagered on Australia’s biggest horse race, which itself attracts wide spread international interest.

What’s more remarkable, Aussie Robertson was matched at a top price of $85 on Betfair to win the World Championship prior to launching a stunning comeback to defeat of Martin Gould in their top 16 match, progress to quarter finals. His plight was so bad during that match, the Australian checked out of his motel before returning to beat the local hope Gould.

Robertson started the final as the $1.43 favourite to beat Scotland’s Dott, but tumbled into $1.15 after winning the 30^th frame of the contest, which put him on the precipice of an achievement managed not even by the late Eddie Charlton, widely regarded as Australia’s greatest ever player.

The 28 year-old, supported in the crowd by his mother and by a nation of new snooker enthusiasts in Australia, shortened further into $1.04 at the start of the 31^th frame, which would prove to be the final of the contest.

19 April, 2009

799-1 WIGAN STAGE ONE OF BIGGEST BETTING COMEBACKS OF ALL TIME

It was ten times more unlikely than a Lib Dem majority at Election...

ONE of the biggest betting comebacks of all time has just taken place at the DW Stadium, as Wigan beat Arsenal 3-2 - having been backed at a remarkable 799-1 on Betfair.

Yes, no need to adjust your computers – 799-1.

One Betfair customer secured £3 at those colossal odds on Wigan as they trailed Arsenal 2-0 after 80 minutes at the DW Stadium today, with other wildly optimistic punters on the exchange, crystal balls at the ready, also backing Wigan at all rates down from 769-1, too.

And their dreams were soon to come true.

Arsenal had already been backed at the minimum odds of 1-100 on Betfair for the win that would have kept them in the title race when they led 2-0 after 80 minutes.

But an 80th minute goal for the home side set them up for their late, late, late show.

And a scrambled Titus Bramble goal on 89 minutes, followed by a stunning Charles N’Zogbia strike in injury time, must have had a whole host of Betfair punters cheering on the biggest betting win of their lives.

Betfair spokesman Tony Calvin commented: “That was 10 minutes of football that will not be forgotten by Betfair punters – and it was simply one of the biggest betting shocks of all time.

“To put it into perspective, the Libs Dems are only 74-1 to secure an overall majority – and the Wigan win was rated more than 10 times more unlikely after 80 minutes at the DW Stadium today!”

17 March, 2009

TIGER $5 FAVOURITE TO WIN US MASTERS

PUNTERS STILL RESPECTING FOUR-TIMES WINNER DESPITE LONG ABSENCE

Tiger Woods is the player to beat at the 2010 US Masters following today’s confirmation that the four times Masters champion will make his long awaited return to golf at Augusta National on April 8.

Punters on Betfair have installed the world number one as the $5 favourite for the Masters despite his long absence from the sport, suggesting his extra-marital affairs haven’t eroded his level of respect among punters on Australia’s only licensed betting exchange.

The announcement that the 14 times major champion will return at his favourite major event has prompted punters on Betfair to shorten Tiger’s victory price into $5 from a high price of $8.80. They also believe fellow American Phil Mickelson is his only genuine danger, with the former champion $11 second-pick in betting.

Betfair’s Mathew Thompson said Tiger has been a money making machine for punters in recent years.

“Tiger Woods has endured arguably the greatest fall from grace of any modern sportsperson, but punters on Betfair still see him as the dominant factor in any tournament he plays in. Betfair layers just refuse to take any risk by offering up big odds about the world number one such is their respect for his dominance.”

“In fact, the $5 available about Tiger at the Masters is almost double the price that is usually on offer. He was the $2.72 favourite for last years US Masters and dominated 82% of the overall market before a ball was hit. If you look at it that way, the $5 about Tiger is a generous price.”

Punters believe Geoff Ogilvy is most likely to head the Australian charge at Augusta, with the former US Open champion $34 to win his first green jacket. Robert Allenby is the next best Australian in the market at $100.

Betfair will be on the US Masters right up until the final putt is sunk via it’s dynamic in-play betting market.

14 March, 2009

RANDWICK GUINEAS WINNER MATCHED AT $12 IN RUNNING

GUINEAS WINNER ROCK CLASSIC BACKED AT $40, LORD TAVISTOCK MATCHED AT $60

Punters on Betfair have enjoyed a rare day at both Randwick and Flemington today with two sensational results reiterating the extraordinary benefits offered by Australia’s only betting exchange.

Betfair’s in-running betting product continues to increase in popularity, and punters who took the $12 available in-running about Randwick Guineas winner Shoot Out today will be celebrating long after the last race at AJC headquarters this evening.

Shoot Out looked in some trouble as jockey Stathi Katsidis desperately searched for a way out into the straight in the Guineas, prompting layers to all but dismiss the race favourite by offering up $12 in the run. But it didn’t take long for the doubters to regret their lack of faith, as the Queensland star swamped his rivals late to take out the group one in resounding style.

In Melbourne, Australian Guineas winner Rock Classic, trained by the master Bart Cummings, was backed at a top price of $40 prior to the running of the group one, for which Denman lined-up as the $1.71 favourite.

Flemington offered up another big in-running betting tale, with Vigor matched at $1.01 in-running during the Blamey Stakes before being mowed down by Lord Tavistock, who was backed at $60 in-transit.

Betfair’s Mathew Thompson said the in-running product has revolutionised the way punters bet on races.

“We see stories similar to Shoot Out each Wednesday and Saturday. In fact, six races at Flemington, and five at Randwick today saw the respective winners matched about $5 in-running.”

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.