Betfair Or Better Options
Betfair Or Better Options
(PRWEB) November 8, 2005
Western Australian Punters have the right model for betting.
With the Tasmanian Government agreeing to give UK based betting exchange, Betfair, a licence, there has been strong reaction from many racing industry analysts who fear the integrity of racing and the revenue streams to the racing industry are both under threat.
The internet betting model http://www.bookies.com.au used in Western Australia addresses both these concerns with betting exchanges.
Unlike punter to punter bet exchanges, the WA model has all bets between a punter and a licensed bookmaker. When a bookmaker stands a horse to lose, he is also wagering his integrity and his bookmaking licence, all of which are under constant scrutiny by the racing stewards. Examples from the UK demonstrate that the punter to punter exchange such as Betfair can encourages certain horses not to race to their ability.
Another criticism of bet exchanges is that revenue from racing is not being put back fairly into the industry. Despite the PR from UK based Betfair about job creation and funding to the industry, the bottom line is that if some of the pie goes offshore, either the racing industry’s share of the pie decreases, or punters must pay for the difference.
The WA model distributes revenue from bookmaker turnover taxes straight back to the racing industry.
The best bet exchange model is one where the price on offer is the true price (not before a 5% commission), where the entire model works within the existing Australian legal framework, and where each bet is with a licensed Australian Bookmaker, subjected to all the checks and balances that have created the best reputation for bookmakers anywhere in the world.
Kevin Wear – Director http://www.bookies.com.au
###
©Copyright 1997-
, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.
Finally, an issue that I am passionate about. I have looked for information of this caliber for the last several hours. Your site is greatly appreciated.