Betfair Australia to Start Betting Operations By August 22nd

Betfair, the largest internet betting exchange in the world announced that Betfair Australia will start betting operations at the end of this month.

The online gambling site is scheduled to be closed for 8 hours on August 22nd for the last software upgrade before Betfair Australia will start its Hobart-based operation.

The betting exchange is the partnership between Publishing and Broadcasting Ltd. and Betfair UK. Packer's family owns Publishing and Broadcasting Ltd.

Andrew Twaits, Director of Corporate and Business Affairs for the partnership said that Betfair Australia will begin receiving bets after the software upgrade.

The betting exchange will use modern technology to enable the bettors to select their own odds and bet against other bettors. The mode of betting of Betfair Australia has divided the racing industry.

Racing industry experts opposed the practice of Betfair Australia to allow bettors backing horses to lose as this might be a threat to the integrity of racing.

Nonetheless, Betfair Australia announced that it received a nod signal from Racing Victoria to have betting operations on Victorian races.

According to Twaits, the exchange venture is expecting a wider support. Betfair Australia is now employing a staff of 63 and might reach the forecast of 75 employees for this year.

14 February 2007
News Submitted by:
Jack Silverman

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