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Betfair Challenged

'Cavalier and unconscionable'

The Hong Kong Jockey Club has issued a ‘cease and desist’ to Betfair Pty Limited, labelling the wagering operator’s decision to offer a betting exchange on Hong Kong racing as ‘cavalier’ and ‘unconscionable’.

Betfair unilaterally announced its intended expansion into Hong Kong racing on 21 August and commenced offering the betting exchange on the opening meeting of the Hong Kong season at Sha Tin on Sunday, September 1.

The letter references the Jockey Club’s concerns over Betfair’s owner, the publicly-listed Crown Resorts Limited, and allegations levelled against Crown Resorts in recent weeks.

Read the letter here

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1 comment on “Betfair Challenged

  1. Craig B says:

    Someone needs to tell the HJC that although it has concluded an agreement with the SA Tote, not all amounts wagered on Honk Kong racing is wagered on the Tote. They should know that-

    ○ The Tote operators in RSA have subsidiaries which are bookmakers who allow fixed odds betting on Hong Kong racing.

    ○ Bookmakers throughout RSA who are not connected with the Tote offer both fixed odds and Tote odds on Hong Kong racing.

    And although the HJC is opposed to betting exchanges for integrity reasons, its argument against it makes no sense because bookmakers placing and laying bets with each other ends up with the same result as an exchange.

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