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Betfair issues proceedings
 October 7, 2008, 10:02 am (3 years ago)According to Australian racing media Thoroughbred News and Racing and Sports, betting exchange Betfair has issued proceedings in the Federal Court of Australia challenging the legitimacy of conclusions by Racing NSW and Harness Racing NSW to inflict a 1.5 % income fee for all betting operators wishing to cover NSW pure-bred and harness races.
The proceedings in the Federal Court are brought under section 92 of the Constitution, claiming prejudiced demeanor in interstate trade and business.
Betfair accomplished a separate section 92 action in opposition to the Western Australian government previous year.
Andrew Twaits, Betfair’s director, for corporate and business affairs and Australian CEO Delegate is quoted: “We’re pleased to pay a cost to the NSW racing business on all our wagering income but the income fee inflicted by Racing NSW and Harness Racing NSW is very unfair.
Betfair has gotten endorsement from all 3 racing codes in NSW to issue their race fields. Betfair has stated that any payments done to Racing NSW and Harness Racing NSW is going to be made compulsorily - pending the result of these cases.
Betfair is licensed as a wagering operator in Tasmania and is permitted with authorization to receive bets from clients from all over Australia. Betfair previously pays taxes and product fees to Tasmania that takes 35 % of its total income.
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