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Betfair to Give Evidence on Gambling Bill

21 January 2004

UK-- As reported by the the Scotsman: ``Betfair, the first person-to-person betting exchange, will give evidence before the Parliamentary Joint Committee looking at the draft Gambling Bill tomorrow.

``The Government published its draft Bill on November 19 last year and Betfair, launched in June 2000, will be making a submission in response to the detail.

``Leaders of the racing and bookmaking industries have called for stricter regulation of betting exchanges.

``British Horseracing Board chairman Peter Savill, who believes exchanges pose a threat to the integrity of racing, is one of several key figures from the racing world to have appeared before the Joint Committee of both Houses Of Parliament which is scrutinising the Bill.

``Betfair's submission, covering 37 points, states that measures introduced by the firm include 'maintaining unprecedented audit trails of transactions taking place on its site" and "sharing information with the appropriate authorities to minimise the risk of criminal abuse'…"

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