Betfair has moved a step closer to becoming licensed in Australia, with the firm thought to be close to a deal with Tasmanian authorities.
The firm’s Australian-business partner Publishing and Broadcasting Limited is reportedly in licence negotiations with the government of Tasmania.
PBL, one of the country’s leading media firms, signed a deal last year to take a 50% share in Betfair’s Australian business if the firm obtained a licence in Australia.
The partnership could be a potentially huge money spinner for both firms.
PBL owns Australia’s most popular free-to-air TV channel, the nation’s number one casino and have significant investments in the biggest internet portal and pay TV stations.
Betfair, who would not comment on the rumours, said it had applied to “every state and territory in Australia for a licence” and was in discussions with various governments.
“We have no doubt, at all, that we will be successful in gaining a licence in Australia; however, we’re not going to speculate as to where or when that’s going to be,” a Betfair spokesman said.
Australian media reports have repeatedly linked Betfair with allegations of race fixing and corruption in the sport, but Tasmanian authorities have insisted they retain an open mind to the exchanges.
But Tasmanian authorities face a potential backlash from their counterparts in other states.
Andrew Harding, chief executive of the Australian Racing Board, said licensing Betfair in Australia would threaten the entire industry's integrity.
And Racing New South Wales (NSW) chief executive Peter V'Landys said any state that licensed betting exchanges would be barred from receiving intellectual property rights to NSW racing.
However, although other states remain hostile to the idea of betting exchanges, the Tasmanian licence would allow Betfair to advertise freely throughout Australia.
And Betfair insisted it is committed to the Australian market and had every intention of contributing to the sport.
“Once we are granted a licence we will contribute to the horseracing industry in line with every other operator, and there is nothing that the racing industry has to fear from us,” said the spokesman.
Article originally published by eGaming Review