The New South Wales horseracing world has reacted strongly to the information that Betfair, the Internet gambling group, has been negotiating with the territory's government in regard to an authorized operating license.

According to the well distributed comments in the Australian media, Peter V'Landys, the racing chief notch in New South Wales, has poured out serious accusations against the office of the prime minister due to the reports that it is planning to grant the gaming exchange, Betfair, a license to operate. 

The racing industry, according to V'Landys, was not informed and permitting Betfair's gambling system to perform in New South Wales is likely to incur the industry with a lot of costs, resulting in the loss of tens of millions of dollars income as it has already suffered from the horse flu disaster.

V'Landys maintains that their worry is that they were not brought into the consultations. According to him, the horse industry could lose scores of millions in income if Betfair consumes the totalisator income. Competing against Betfair is not possible by any other kind of gambling.

He further claimed that actually according to Betfair's propositions, the company would make payments of twenty four cents for every one hundred dollars gamble in comparison to bookmakers' one dollar and totalisator's four and half dollars. As a result eight billion dollars would have to be the annual turnover, being raised form the current four and half billion dollars a year. This, naturally is completely impractical. 

Only having read of this in the media concerning the government of New South Wales intentions to grant a license to Betfair, V'Landy claimed that he was still waiting to be contacted by a government official in regard to the topic.

Posted on: November 7, 2007

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