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Australian Racing Board Fights Betting Exchanges

19 August 2004

AUSTRALIA – As reported by the Thoroughbred Times: "The Australian Racing Board adopted a strategy at its meeting on Tuesday to fight an influx of betting exchanges on the Australian racing industry.

"The board said in a statement that betting exchanges operate in Australia under a legislative loophole and provide no compensation to the racing industry.

"…Australian board members decided to implement a strategy that includes calling on state and territory governments to pass legislation protecting the racing industry from betting exchanges, taking legal action against exchanges in both Australia and Great Britain, and developing a set of sanctions on the issue…"

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