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Betfair Australia
 November 3, 2008, 7:28 am (3 years ago)Online betting exchange Betfair Australia, which is co-owned by Oz gambling mogul James Packer, has expanded its saturation of the horse racing market with the implementation of in-run betting at the important Melbourne Cup, customarily run over the 1st Tuesday in November. Company spokesmen stated that this style of wagering is anticipated to control gambling in Australia as customers become more technologically confident, sports turning out to be more reliant on product fees and governments less liberal of poker machines.
Betfair has been forcefully following in-run wagering in the Land Downunder, bringing it in last month on selected races on Guineas Day at Caulfield, and expanded it to all ten races on the Derby card at Flemington.
Previous to the big event, Betfair's chief executive, Andrew Twaits, explained: "This is going to be the 1st Melbourne Cup where Australians are going to get the opportunity to bet online whilst the race is on."
Betfair's in-running volumes have gone up in latest weeks, from A$48 800 on Guineas Day to A$58 800 on Caulfield Cup day and A$60 200 on Cox Plate day to A$143 500 on Derby Day.
Considering the situation of the $1.36 billion won by Tabcorp alone throughout last year's Victorian spring racing carnival, it's not yet large money, but the possibility is evidently there.
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