Betfair will be fully operation in NJ by years end

[todd73nj]

There is a reason. To bet AU horses you have to transfer to a specific Australian wallet, which is under Australian jurisdiction. All other countries you can bet from the default wallet. I dare say it wouldn't be legal for Betfair to transfer US client funds to AU jurisdiction, and similarly it wouldn't be legal to allow betting on Australian races from a US wallet.

Doesnt that go for all Aussie sports? A guy who uses my site mentioned he wanted to bet rugby there and said he would have to transfer money to a wallet - and decided against doing it.

[Hareeba!]

There is a reason. To bet AU horses you have to transfer to a specific Australian wallet, which is under Australian jurisdiction. All other countries you can bet from the default wallet. I dare say it wouldn't be legal for Betfair to transfer US client funds to AU jurisdiction, and similarly it wouldn't be legal to allow betting on Australian races from a US wallet.

Yeah fair point Santo. Not sure though why they wouldn't be able to get permission to do that. Are there any other countries where players aren't able to have an Australian wallet with Betfair ?

[davidchong]

I can bet HK races at BF is the Australia Wallet...

[Hareeba!]

Doesnt that go for all Aussie sports? A guy who uses my site mentioned he wanted to bet rugby there and said he would have to transfer money to a wallet - and decided against doing it.

yes, including the Australian Tennis Open and F1 GP etc.

but there is no earthly reason I can think of not to transfer funds to an Australian wallet - it's a seamless, costless, meaningless thing Betfair had to put into their system to gain permission to operate in Aus. in a time when there was so much stupid hysteria built up against them by the incumbents

[Hareeba!]

I can bet HK races at BF is the Australia Wallet...

really ????

from where ?

I've never seen HK racing on their menus

[Santo]

Yeah fair point Santo. Not sure though why they wouldn't be able to get permission to do that. Are there any other countries where players aren't able to have an Australian wallet with Betfair ?

What's the difference between transferring funds to an Australian entity (shell or not) or a Costa Rican one? The WTO would have another field day. Either you allow betting in other countries or you don't.

[davidchong]

really ????

from where ?

I've never seen HK racing on their menus

AUS > Tote > Check the track name, i think tonight there HK races........

[Hareeba!]

AUS > Tote > Check the track name, i think tonight there HK races........

That's a whole different thing.

Betfair's 'tote' is simply accessing Tote Tasmania via an agency agreement just like 'Fair Price' is accessing Sports Alive.

Betfair is not able to offer back and lay betting on HK races.

Aussie totes and books can bet on HK racing but Betfair is forbidden.

[Hareeba!]

What's the difference between transferring funds to an Australian entity (shell or not) or a Costa Rican one? The WTO would have another field day. Either you allow betting in other countries or you don't.

The difference is we're talking about a legal race betting service, not illegal offshore sports books.

Americans can already legally open accounts with Australian betting agencies and bet on Australian races so I see no sense in denying them that through Betfair.

I'm sure I read somewhere that when Betfair gets to bet in the US it will be offering ALL it's racing product. Not only US racing ?

[Santo]

Americans can already legally open accounts with Australian betting agencies and bet on Australian races

Is that so? I've never come across that in any of the literature I've read...

[Hareeba!]

Is that so? I've never come across that in any of the literature I've read...

hmm ... I just checked with TABCorp and it looks like you are correct Santo. But I'm positive that a few months ago a TAB chap posted in this forum saying they did accept US residents. Further research required into this.

[Hareeba!]

Getting interesting - from Readbet:

1.2 Forbidden Jurisdictions
1.2.1 In compliance with US legislation, by way of the Unlawful Internet Gambling Enforcement Act, sports wagers will not be accepted from any resident of the United States of America.

1.2.2 In compliance with Hong Kong law, horse racing and sports wagers will not be accepted if you are physically present in Hong Kong. If you are physically present in Hong Kong, you agree you will not place or attempt to place a wager.

1.2.3 Sports wagers will not be accepted from any residents of Turkey or France.

[Santo]

Hm, interesting... I guess different companies legal departments have different readings of the relevant laws, however I would note that Readbet aren't trying to get a US license, but Betfair are...

[todd73nj]

Hm, interesting... I guess different companies legal departments have different readings of the relevant laws, however I would note that Readbet aren't trying to get a US license, but Betfair are...

So many options to bet on horse racing though.

They should go for a license based on being an exchange

Try to buck the system