It Appears The Australia High Court Dismissed Betfair's Appeal

[usedtolovetvg]

The Australia High Court today dismissed an appeal by Betfair. Betfair was imposed a fee for the race fields in New South Wales and did not want to pay the fee but a percentage of their profits. Betfair was told they had to pay on turnover like everybody else, This may greatly hurt their business model which was based on paying next to nothing. More than the $120 million Aussie dollars being held were at stake. It is said that the effects could be felt around the world, as pro and college sports may start to demand fees from the operators who take bets on their product.

[horses4courses]

The Australia High Court today dismissed an appeal by Betfair. Betfair was imposed a fee for the race fields in New South Wales and did not want to pay the fee but a percentage of their profits. Betfair was told they had to pay on turnover like everybody else, This may greatly hurt their business model which was based on paying next to nothing. More than the $120 million Aussie dollars being held were at stake. It is said that the effects could be felt around the world, as pro and college sports may start to demand fees from the operators who take bets on their product.

I'm with you until the last sentence.
Are you referring to US pro and college sports?
Certainly, no where on this earth are college sports as popular as those in the US, so I figure you must be.

The governing bodies of pro sports in the US, and the NCAA for college, treat gambling as if it really doesn't exist. The only time they take interest is when there is a scandal. In that event, they do what they feel is necessary to punish those involved and, more importantly, to protect their own image.

I don't believe in a million years that they would ever seek to gain financially from sports betting operations based outside the country.
Their stance is that all gambling on their sports is illegal. Receiving revenue from outside sources who gamble legally on their games would be a vindication of the practice.
Ain't gonna happen........

[usedtolovetvg]

The governing bodies of pro sports in the US, and the NCAA for college, treat gambling as if it really doesn't exist. The only time they take interest is when there is a scandal. In that event, they do what they feel is necessary to punish those involved and, more importantly, to protect their own image.

I don't believe in a million years that they would ever seek to gain financially from sports betting operations based outside the country.


As the States become more and more desperate for money, look for them to start legalizing sports wagering; something Betfair probably had in the back of their mind. In time, the various sports bodies will see the enormous potential and want a piece as well. Those companies would have to licensed in the U.S. Btw, this is the way it is with many sports 'Down Under' and their contracts with Betfair for a % of the profits is about to end.

This is a big deal for Betfair. First of all they are out around $80 million and now will have to pay their way for racing in New South Wales. A stance that we should take in this country. The business should benefit all concerned.

[Native Texan III]

"The business should benefit all concerned"

You mean "all" as in the betting public that already pay for most of it.
96% of punters already lose even with zero tax - if more tax, as in a sports betting tax, is added to the burden then less money is going to be bet and even more losing punters will see the light and give up.

Betfair do not have to cover NS Wales races - there are many more races to cover in that part of the World each and every day, as well as Europe, S Africa and USA.

[usedtolovetvg]

You mean "all" as in the betting public that already pay for most of it. 96% of punters already lose even with zero tax - if more tax, as in a sports betting tax, is added to the burden then less money is going to be bet and even more losing punters will see the light and give up.

I mean all parties involved. It seems bizarre to me that the only one with no vested interest are the bookmakers With very low overhead, the are getting the product for free and give nothing back to the sport or the punter. BF even surcharges their biggest winners 60%.

Betfair do not have to cover NS Wales races - there are many more races to cover in that part of the World each and every day, as well as Europe, S Africa and USA.

I would think BF is mulling over that option right now. Unfortunately, racing, through every fault of its own, can't put bums in the seats and has no lucrative television contract. So, they stick it to the only one they can, the punter.

[Canarsie]

As the States become more and more desperate for money, look for them to start legalizing sports wagering; something Betfair probably had in the back of their mind. In time, the various sports bodies will see the enormous potential and want a piece as well. Those companies would have to licensed in the U.S. Btw, this is the way it is with many sports 'Down Under' and their contracts with Betfair for a % of the profits is about to end.

This is a big deal for Betfair. First of all they are out around $80 million and now will have to pay their way for racing in New South Wales. A stance that we should take in this country. The business should benefit all concerned.

Even if the states wanted to almost all of then can't including the one I reside in.

http://www.nj.com/news/index.ssf/2012/01/2_nj_congressmen_push_to_legal.html


If it wasn't for gambling the NFL and basketball wouldn't nearly be as popular as it is. They just turn a blind eye to it because it really is their bread and butter.

The colleges are getting huge fees now from the super conferences forming they don't need any attention getting diverted to something that is illegal except in Nevada.


I mean all parties involved. It seems bizarre to me that the only one with no vested interest are the bookmakers With very low overhead, the are getting the product for free and give nothing back to the sport or the punter. BF even surcharges their biggest winners 60%.

How do you propose to collect fees from the bookmaker? Do you actually think they are going to raise their hand and shout out "I'm the pied piper follow me". There is a reason so many of them have been around for decades and decades. Only when the Federal DA decides to do a bi yearly bust do they get any attention. After the arrest there isn't a word in print. These trials also take years to complete that's one of the reasons you don't see more arrests because it just isn't worth it.

[usedtolovetvg]

I was talking about the corporate bookmakers. I didn't know that anyone bets with the guy at the barber shop anymore. Churchill and BF are certainly preparing for that eventuality. Fees are paid to sports in other jurisdictions around the world. I do believe that it is only a matter of time until the States or some of them, anyway, make sports betting legal. They need the dough. Those big companies that continue to operate offshore will be busted like the poker sites were. Once it becomes more universally accepted, look for the sports to want a piece. Just the ramblings of a gambling degenerate but look for it to happen with 5 years.