Betfair loses race fields legislation case

[mugsgame]

Poor communication from Betfair
Nothing new there then

[andyfuller]

Live in Australia. Trade NSW races regularly. Have not been contacted. Have reduced Betfair trading on Australian Racing events by > 80% as extra 1.50 % no longer makes what I do time efficient and practical.

rg

It seems it isn't all Oz customers being stopped if rubysglory hasn't been contacted.

I don't think anybody really knows the ins and outs of it, so we will have to wait for Betfair to say something.

Peter, can you clear up if you have heard of non Oz based/registered customers being contacted and asked to stop?

I am not holding my breath for something official to come from Betfair so I think we will have to do our own detective work.

[Euler]

Peter, can you clear up if you have heard of non Oz based/registered customers being contacted and asked to stop?

I am not holding my breath for something official to come from Betfair so I think we will have to do our own detective work.

No I haven't but we have lots of Aus customers and they are not all banging on the door either, so it can't be a universal thing. I'm in dialogue with something over there that has been affected and is in touch with Betfair. It seems pretty fluid at the moment.

[andyfuller]

Cheers for that Peter. It is an intriguing situation that is for sure!

[andyfuller]

Can any non Oz and Nz account holder who has traded any of the NSW racing markets since the increase in basic commission rate check to see if they have been charged the new rate or the old rate.

[spreadbetting]

The base rate has gone up on all Aussie races not just the NSW stuff, Andy. And yes I've been charged the new rate since it came in

[Euler]

Got a response from Betfair today, but I'm afraid it's not of much use. They just said that they will be in contact with people affected. That's it.

Customers wishing to raise concerns can do so by emailing [email protected]

[andyfuller]

The base rate has gone up on all Aussie races not just the NSW stuff, Andy. And yes I've been charged the new rate since it came in

Cheers for that, I didn't realise. My days of trading Oz markets have been and gone as with the new PC they just aren't worth the effort.

I thought the reason for the increase in base rate was due to the court case loss which so far only effects NSW. So are they profiteering on the other states?

Also if the new charges don't effect Betfairs non Oz/Nz customers (perhaps the reason for those customers like yourself and Peter not being asked to stop) then surely they should have kept the original rate for you guys?

[spreadbetting]

I just have some bots that run, Andy, Aus stuff is far too early for me to get up. They're not high frequency or turnover so I wouldn't expect a call tbh.

The base rate of 6.5 is all over the Aus racing not just NSW tracks, even up to 6.5 on the AUssie dogs too. Trouble is, this robbing Peter to pay Paul strategy can't do anything but backfire and cinvince the other bodies to go for a turnover tax too. It's pointless carryong NSW as a loss leader cos no other states going to want to see their possible revenue go to NSW they'll want it themselves.

Betfair should have dropped NSW as soon as the case was decided, you can only think they have some overall strategy in mind that may be based on the sportsbook and the possible increase overall in base rate to push customers to the sportsbook.

[mbeebee]

Hello. in answer to Andyfuller's question ... yes, I am being docked the new percentage commission.

Beebs

[CaerMyrddin]

Me too.

It's pointless carryong NSW as a loss leader cos no other states going to want to see their possible revenue go to NSW they'll want it themselves.

The opposite may be on the cards, NSW revenue go to the other States, but we'll have to wait and see..

[rubysglory]

Betfair Australia really need not operate from within Australia at all. OK, they took out an Australian license to be seen to be doing the right thing, but there is nothing stopping them from moving their operation to somewhere like perhaps Vanuatu.Yes, as a prudent business measure Betfair know they should support and be seen to be actively supporting their business base - the racing industry, but surely the time has now arrived to withhold such support. Even if they were to end up paying a similar fee to the resident governing body ( I understood that Vanuatu's turnover tax rate is now 1.5% - but I stand corrected - anybody ?) , it would not be being paid to 'Racing Australia' . Play the ' OK - we will pay your fees game ' , 'just not to you'. Make them bleed for a bit. Perhaps then the reality will hit home that 0.50% of something is better than 1.5% of nothing. Call their bluff boys and have it out once and for all !

rg

[Galilee66]

G'day RG,

I agree entirely - there is nothing to be gained by BF for them to hold an Australian licence - in fact, all it does is restrict Aus BF users in terms of the ridiculous legislation banning in play trading on the internet.

In my view, BF should surrender their Aus licence and simply operate from another base - UK, Malta or Timbuctoo - so long as they are able to do so viably.

I agree that they tried to do the right thing in relation to paying an appropriate fee to racing in Aus - and, if they were to operate from a base outside Aus and not be constrained in any way by arguments over access to Aus racing fields they would surely prosper, as the increase in in play trading/betting on sports events would be huge.

Let's hope BF management takes a very strategic view of what's happening and make some courageous decisions.

I would welcome the opportunity to trade on BF without the restrictions imposed by the ludicrous legislation that allows me to trade in play on the telephone - but not on the internet.

So, if any BF managers are reading this thread - take courage and pull the pin on your Australian operation.

cheers
G66

[Euler]

I can now confirm that Betfair are contacting UK based customers to ask them to stop trading on Austrailian races.

The guy I spoke to was very pleasant and explained in detail the reason for the call. He also mentioned figures which I wont repeat on here of customers affected and so on.

He also mentioned how much Betfair 'lost' because of my activity last week. I told him Betfair didn't lose anything given my premium charge in the UK came to around four times that amount therefore they should let me continue as a highly profitable customer. They declined that offer.

[andyfuller]

So just to confirm you have been told to stop Peter, is it just NSW races or all Oz races?

Also can you expand on the reasons he gave as to why they were asking you to stop? Or is it just you cost them money on those markets so they don't want you even though you probably provide a lot of liquidity?