Bosses at Betfair are weighing up their options after a crushing defeat in the Federal Court over Racing NSW's right to charge a turnover based product fee. Three Federal Court judges, headed up by the Chief Justice Patrick Keane, ruled in favor of Racing NSW's right to charge wagering operators a 1.5 percent turnover fee on the NSW racing product and to retain $120 million paid by corporate bookies since September, 2008. Betfair may decide to draw the Australian Competition and Consumer Commiss
Bosses at Betfair are weighing up their options after a crushing defeat in the Federal Court over Racing NSW's right to charge a turnover based product fee. Three Federal Court judges, headed up by the Chief Justice Patrick Keane, ruled in favor of Racing NSW's right to charge wagering operators a 1.5 percent turnover fee on the NSW racing product and to retain $120 million paid by corporate bookies since September, 2008. Betfair may decide to draw the Australian Competition and Consumer Commission (ACCC) into the dispute. Racing NSW chiefs, though, are cockahoop at the victory, and already predicting Betfair will not take an appeal to the High Court.