"The countries include Germany, Greece, Canada, and Russia. All together, the countries that Betfair will withdraw from accounted for about 24 percent of its revenue in the last fiscal year, the company said."
This seems like big news but I'm not seeing/hearing to much about this?
Yeah, definitely big thing, it means 25% less liquidity.Hope that Greece&German tax model will fail, cause if not, it will eventually affect whole Europe.Betting companies should be taxed based on their profit.
Betfair has indeed withdrawn from Germany and Greece because of problems over tax rates.
Additionally, the company will stop marketing and investing in unregulated markets. These contribute 24% of revenues and include Russia and Canada among others. Betfair will still accept customers from these countries though.
For obvious reasons, they prefer to focus their marketing efforts on regulated jurisdictions - UK, Italy, Spain, Australia, etc.