Problem Gambling and Integrity
Betfair takes problem gambling very seriously and is strongly committed to all reasonable measures to reduce the prevalence of harm from gambling addiction. It's twice been named the Socially Responsible Operator of the Year (2006 and 2007) at the annual eGaming awards in the UK.
We believe it is our responsibility to customers to ensure they enjoy their wagering experience on our site, while remaining fully aware of the social and financial harms associated with problem gambling. In order to assist our customers to gamble responsibly, we ensure that all staff who deal directly with customers receive responsible gambling training.
Our site features the following initiatives:
- Customer driven deposit and loss limits
- Self-exclusion tools
- Links to gambling help lines and other help organisations
- Self help and awareness information
- Tools to protect underage access
- Access to all betting transactions for the life of an account
Betfair's racing and sports betting markets present publicly available information regarding every event and runner, including a history of the odds, the amounts bet and the amounts available to bet. The company offers form, statistics and as much information as possible, all under the Betfair umbrella, so that customers can make the most informed choices possible.
Regulation and integrity management
Betfair welcomes regulation and is committed to paying the appropriate product fees in every market in which it operates. It has signed Memoranda of Understanding with all the major sporting bodies in Australia (listed below), and countless more worldwide.
These agreements allow sporting bodies to gain access to relevant wagering data.
Racing stewards across the country are granted real time access to all bets placed through Betfair. No other wagering operator in Australia can offer this level of transparency.
Racing
Betfair is a strong supporter of racing and pays taxes and product fees in Tasmania as well as to other states where race fields legislation applies.
Betfair supports the principles behind the new Race Fields funding model provided that the fees are fair and equitable to all wagering operators. It's an arrangement that allows the racing industries in each state to properly reap the rewards of their products.
Traditionally, licensed wagering operators in Australia covered racing throughout the country but only paid product fees and taxes to the States where they were licensed. That funding model originated with the advent of the state-based TABs and was widely referred to as the 'Gentleman's Agreement'. In effect, each jurisdiction permitted wagering operators to accept bets on each other's racing without the requirement to pay product fees.
Betfair has been at the forefront of calls to rid the industry of the Gentleman's Agreement and replace it with a more equitable model that is better placed to sustain racing into the future.
Commitment to sport
Betfair believes all wagering operators should pay for the products they bet on, and as such, we have led the industry by voluntarily entering into Product Fee agreements with all of the major professional sporting bodies in Australia. They include the AFL, NRL, ARU, FFA, Tennis Australia, Cricket Australia and the PGA Tour of Australasia. Through these arrangements, Betfair has agreed to provide the sporting bodies with a percentage of revenue generated from betting on their sports.