Bookies Worry about Australian Betting Exchange Review

AUSTRALIA – As reported by the Sydney Morning Herald: "An explosion in betting exchanges is tipped should the Federal Government's review of the Interactive Gambling Act fail to ban the revolutionary gambling medium.

"'If we are forced to get into these things, courtesy of Federal Government's inaction, then rest assured that the TABs with their huge account-betting customer base will make a welter of it,' TAB Ltd's media man Peter Fletcher said yesterday.

"The Australian Bookmakers Association chief executive Tim Ryan believes it will be 'open slather' should exchanges be licensed in this country.

"…TAB Ltd and soon-to-be new ruler, Tabcorp, along with the ABA and racing administration are vigorously lobbying the Federal Government to ensure betting exchanges are outlawed in Australia.

"The IGA review report is due to be handed down next week with all concerned parties agreeing racing's financial welfare is at stake…"