Betfair Wins The Vote On First Hurdle
Published: Friday, November 11, 2005 Online-Casinos.com
BETFAIR WINS THE VOTE ON FIRST HURDLE
12 votes to 10 on giving license to betting exchange
The Australian press were reporting that Betfair Australia, a joint betting exchange venture between Betfair and PBL is one step away from becoming Australia's first licensed betting exchange as we went to press this week.
The Tasmanian Government's Lower House debated the bitterly contested betting exchange issue for six hours before the Labour-dominated Parliament approved the Bill by 12 votes to 10. The Gaming Control Amendment (Betting Exchange) Bill 2005 now passes to the State's Upper House which has already warned that Betfair's passage may not be so easy.
MPs are being lobbied to demand more information on the joint venture, particularly on its financial business case.
Betfair needs only three of the Upper Houses's ten independents to agree to the bill. Tasmanian Premier Lennon limited debate on Betfair to six hours today after the Greens and Liberals both signalled their intention to vote against the Bill. Liberal attempts to send the Bill to a select committee failed and the Government twice voted down a Greens move for a social and economic impact study.
The Betfair issue will now progress to the State's Upper House which will debate the bill on November 23 at the earliest.
If approved by the Upper House, Tasmania will provide a base for Australia's first licensed betting exchange.
