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Australian Board Fears Betting Exchange a Gamble

22 April 2005

AUSTRALIA – As reported by the Agence France-Presse: "The Australian Racing Board has called on the Tasmanian Government to be transparent in its negotiations over a betting exchange licence.

"One of the companies wanting to operate a betting exchange, Kerry Packer's PBL, has paid the Government $2.5 million over five years for a gaming licence it does not use.

"Gambling company Tabcorp also retains a licence.

"PBL and its UK partner Betfair have been negotiating with the Government for a betting exchange, which allows gamblers to lay bets against each other and bet to lose.

"…The Greens' gaming spokesman, Kim Booth, says the Premier should have been up-front about PBL's Tasmanian gaming licence in statements about the Betfair proposal…"

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