Gambling.co.uk: Gambling News Archive

Betfair.com responds to draft gambling bill

Online betting exchange argues against punter registration

Wednesday 7th April 2004



Betfair.com the British bookie today issued an official clarification welcoming the view of the Committee’s report into the draft gambling bill.

In response to Joint Scrutiny Committee chairman John Greenway’s statement: ‘We recognize that ‘exchanges are a good thing [and] must not be forced abroad by unnecessary regulation’, Betfair said that betting exchanges are delivering benefits for punters and sporting regulatory bodies.

While it was in favor for most of the government’s initiatives it had certain issues with sections of the report. “The logic and workability of seeking to impose thresholds above which its customers might require some form of registration for integrity purposes or licensing and taxation on the grounds that they are acting as “de facto book makers”, because they are not,’ said a spokesperson of Betfair.com. The operator added that betting exchange users are no different from any other punters and no British punters are currently licensed or regulated.

“Imposing thresholds on betting exchange punters would discriminate against one section of the betting public and create bureaucracy for one set of operators, while doing nothing to further the licensing objectives of protecting the vulnerable, keeping crime out of sport and ensuring fairness to the consumer,” argued the Hammersmith, West London-based company.

The UK licensed and registered bookie currently pays 15 percent of its gross profits in general betting duty and another 10 percent of its gross profits from horseracing levy, will all bets placed on the online betting exchange currently accruing tax to the British government.

Betfair believes that by requiring the registration of certain betting exchange customers would bring no more information about those customers than is already known to the betting exchange operator. It says that the best way to address integrity risks is to impose these policies on all bookmakers and not to introduce a punter registration system.




Source: OnlineCasinoNews