Betfair punters are going to cop the fallout from the recent High Court decision upholding Racing NSW's turnover tax. Betfair says: 'Due to the additional cost to Betfair associated with this decision and in order for us to continue to offer an Australian racing product to customers, it is necessary to implement an increase to prices on all Australasian racing markets...From 1 May 2012, Betfair's market base rate ('MBR') on all thoroughbred, harness and greyhound races in Australia and New Zeala
Betfair punters are going to cop the fallout from the recent High Court decision upholding Racing NSW's turnover tax. Betfair says: 'Due to the additional cost to Betfair associated with this decision and in order for us to continue to offer an Australian racing product to customers, it is necessary to implement an increase to prices on all Australasian racing markets...From 1 May 2012, Betfair's market base rate ('MBR') on all thoroughbred, harness and greyhound races in Australia and New Zealand will increase from 5% to 6.5%. Customers will still obtain Betfair Points on these markets in the ordinary manner and will remain eligible to receive a discount on the commission payable in accordance with their discount rate (the maximum discount rate remains 60%)...This price increase does not apply to any sport or overseas racing markets....Betfair remains committed to providing our customers the best products and service in the market and despite this adjustment, Betfair's prices will remain the best of any wagering operator on Australasian racing.'