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Cricket Australia today signed a revenue sharing deal with Betfair.
Betfair is the world’s largest Internet betting exchange and has already signed deals with two other Australian sporting governing bodies, namely the Australian Football League (AFL) and the PGA Australasian Tour. All three bodies stand to profit from revenue taken from wagers placed on their particular sports. Interestingly enough, Cricket Australia and Betfair have had an information sharing agreement from 2004, which gave Cricket Australia complete access to Betfair’s betting records and customer details for integrity-management purposes. Since becoming licensed to operate in Tasmania, Betfair has aggressively courted the Australian media and Sporting event organizers for advertising and sponsorship deals. Betfair has similar deals with many high-profile overseas sporting bodies, including the International Cricket Council (ICC), the English Football Association and UEFA, rugby league and rugby union in the UK, the International Tennis Federation and the ATP tour, and thoroughbred regulatory bodies in the UK, US, Ireland and South Africa.
Betfair allows its users to bet amongst themselves, generating revenue by charging a small commission on a bettor’s net winning amount.
According to Betfair, their infrastructure allows up to five million bets per day. Over 90 per cent of these bets are placed on line, with the remainder, mainly wagering on Horse Racing events being placed by telephone.
posted by Ian of egamingpulse
