DISGRACEFUL - Event Date: 18 May 2018

Punters' Tax could kill Betfair in Australia.

   It's all happening ..    15% WA , 8% Vic ,SA, Qld and of course the NSW
bastxrds are going for the turnover Tax , rather than on profit so good bye Betfair and PUNTERS>

We need The SP to mushroom up and the Razor Gang to deal with Government reps.
A full on Revolution , better still.

Second Chance wrote: Oh goodness gracious: those poor, poor betting agencies.

Get bent.

There are alternatives.  And they can certainly survive as they've done thus far.  Pay their fair share seems, as they otherwise give little back to the industry.

VOYAGER wrote: Looks like a government led pre-emptive strike to get Betfair's customers. I can see TABCORP starting their own betting exchange in the near future, especially if we see a national government agency form.

Betfair have always been a thorn in their side.    . Is probably creating more interest in the entertainment than any other source.
Off subject I expect but Australia is going down the gurgler at an alarming rate in most areas.
I purchased Pharmacy goods from The UK recently at 33% of the cost in Oz . ( postage included )
Governments are desperate and The racing Industry is the new target .

djebel wrote: Sneck wrote: Second Chance wrote: Oh goodness gracious: those poor, poor betting agencies.  Get bent. No betting agencies no punters. Japan and Hong Kong thrive on TOTE only betting. Whilst I myself as a punter would not like this the racing industry would almost certainly be better off.

There's so much money on the exchange that gets dumped back into the Hong Kong pools. The market wouldn't have as strong without it. I'm not against a similar set up.

TAB mugs are a dying breed, if you don't offer the hope of winning and a viable future you won't attract customers.

Is Betfair still alive? Was supposed to die after the High Court ruling, then the NSW turnover tax. If you want to play a bookies game pay a bookies tax imo.

Lol. Your "rehabilitation" skills would be in high demand then?

Sneck wrote: I do an enormous amount for the industry through the introduction of new customers and a rehabilitation of the industry within my circle of friends and acquaintances as well as online. If the industry switches to a no winners model I will do the opposite and convince existing and potential customers that they should give it up and point them towards a better path.

If I place a win bet on Betfair and I am subject to a commission rate deduction on my net winnings of, say 5%, Betfair will increase that rate by 8% in Victoria to 5.4 % but if I live in SA or WA they will increase that 5% by 15% to 5,75%.

It is ridiculous that any government could justify taxing any business on turnover. Coles would turnover billions , and is only taxed on their profits. The same principle should apply to corporate bookies and Betfair, any politician suggesting otherwise has no understanding of how business operates, whether that business be Coles or a bookmaker. Tabcorp does not pay tax on their turnover, so why should their competition.