A British-based betting exchange is to offer “in-race” wagers on Australian horse races even though the practice is BANNED under Aussie law.
From Saturday, Betfair’s Australian arm says punters will be able to bet while a race is in progress on all Group races in Australia.
Betfair has been offering in-running betting in the UK and Europe for some years and it now makes up almost a FIFTH of all money traded on UK horseracing.
However, Australia’s Interactive Gambling Act 2001 made it an offence to place bets on the outcome of a race AFTER an event has started.
Bow Betfair Australia run the chance of bringing gambling chiefs’ ire down on them by operating an in-running service in DIRECT contravention of the 2001 Act.
But BA boss Anthony Klok remained upbeat. “We’ve been looking forward to offering this product to Australian punters on our local product for some time,” he said.
“Evidence from the UK suggests it’s a favourite with the punters and ultimately a great driver of interest in horseracing.”