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Betfair Wins Australian License

AUSTRALIA – As reported by the Australia Age: "Australia's first internet betting exchange will open for business next month but much of the racing industry is already betting it will lose.

"Betfair - a wagering facility that allows members to back losers - was granted a licence on Monday by the Tasmanian Gaming Commission.

"The announcement follows state government approval in November for the joint venture between UK-based Betfair and the Packer family's Publishing and Broadcasting Limited (PBL).

"PBL executive chairman James Packer said in a statement the licence was a significant step forward for the wagering industry…"

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