According to widespread reports in the Australian media on Sunday, the online betting exchange firm Betfair could soon have an operating license for Internet gambling in the state of New South Wales. The NSW government is apparently in the midst of discussions with the online gambling company's Aussie operations, which are half owned by James Packer's PBL company and who already have a license to operate in Tasmania. Graham West, the Gaming and Racing Minister says about a quarter of the people who use the Betfair website come from NSW and the state may be missing out. "Betfair is an Internet product, and because it is already licensed in an Australian jurisdiction, it is easy for people to jump online and use it." said West. A spokesman for West later confirmed the state government was "examining alternatives that would allow corporate bookmakers and betting exchanges, including Betfair, to be forced to contribute to the NSW racing industry and to the government to help fund critical services like hospitals, schools and police". The Opposition in the NSW government says it is most concerned about the government granting Betfair a license. George Souris, the Gaming and Racing spokesman claimed that the betting exchange concept is banned in 47 of the 50 leading thoroughbred racing countries in the world. He added that he is worried that the betting exchange system allows punters to bet on losing horses. Betfair spokesman Andrew Twaits defended the integrity of the gaming site. "We have the most transparent operating system of any waging operator anywhere in the world," he said. ABC Online reported that NSW Premier Morris Iemma intervened to bring his Gaming and Racing Minister, Graham West, into discussions with the agency. West apparently told a budget estimates hearing that Iemma instructed him to tackle the issue. The Premier's office declined to comment on speculations that the half-owner of Betfair, James Packer's PBL, or associates on PBL's behalf, had lobbied the premier or his chief of staff regarding the license. Posted on: November 20, 2007
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