Online Betting Exchange, BetFair, Gets the Green Light in Tasmania

One of the internet's leading casinos online and sports betting websites in the business, BetFair, has been given permission to operate from the Apple Isle in Australia, as revealed by the Tasmanian premier, Paul Lennon.

The announcement came amidst a storm of displeasure from several Aussie racing tracks and bookies who must now compete with one of the world's best land-based and online betting exchanges.  Now, gamblers can bet on both winners and losers in a game - something which BetFair has been every so successful at exploiting.

Further fueling the fear from competitors is BetFair's outstanding track record of being a socially minded betting operator.  Never mind those online casinos who would gladly steal a penny when someone's back is turned. 

The Tasmanian government, however, sees the productivity and potential of allowing BetFair to operate from their homeland.  Not only is the government working on an interactive gambling package for cable television, (with PBL, who is partnering with BetFair on this deal) they also stand to receive 35% of the profit that BetFair generates.