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ARTICLE · 31 OCTOBER 2006

Laws To Regulate Betting Exchanges - Overview

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To say that the decision to grant Britain’s leading online betting business a licence to operate in Tasmania has been a contentious one in Australia’s sports betting circles would be an understatement.

AustraliaMedia, Telecoms, IT, Entertainment
Ashleigh Fehrenbach
Ashleigh Fehrenbach
Kate Erman
Kate Erman

Introduction

To say that the decision to grant Britain’s leading online betting business a licence to operate in Tasmania has been a contentious one in Australia’s sports betting circles would be an understatement.

The racing industry and other State governments maintain that making a betting exchange a legal form of gambling will only encourage skulduggery – if punters are able to bet on a horse to lose, it is argued, it would increase opportunities for races to be fixed.

Tasmania’s Gaming Control Act ("the Act") did not contemplate readily the operation of a licensed betting exchange.

Despite vehement resistance, the Government of Tasmania has announced its intention to allow Betfair to operate legally in Tasmania. There have been media reports that the Tasmanian Parliament has now passed the Gaming Control Amendment (Betting Exchange) Bill ("the Bill") to make provision for the licensing and operation of betting exchanges. The Bill is likely to

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