As far as betting companies go, and exchanges in particular, it’s been quite the week in the limelight, and for one company, Betfair, the light is still well and truly on them. Although in a week when Betfair announced an IPO and that they’re generally doing pretty damn good, if they don’t like to say so themselves, it was likely someone would get all jealous, but having something to back up their jealousy? That would be unheard of.
William Hill, as the highest contributor to the levy, however, find themselves in that exact predicament following the Horserace Betting Levy Board’s consultation on betting exchange concluded earlier this week. The main argument set out in the HBLB document is that companies who trade by way of business on betting exchanges should be subject to a levy, something Will Hill wholeheartedly agrees with and the failure to do this up until now has led to a shortfall in funding for horse racing estimated at a loss of £30million every year.
Therefore, William Hill are asking for a full review of the betting exchange model by the authorities. Hear, hear.