All Things Betfair
Betting exchange Betfair is launching a product that not only enables people to bet on numerous World Cup markets but also to access up-to-date information about any aspect of the tournament. Further, Betfair has integrated the wall chart concept into the product to enable novices to feel at ease using the site. Punters can view the tournament through group and knockout stage wall charts while educating themselves on the intricacies of the game through stats and headlines.
Christian Hellmers, Betfair's director of U.S. business development, said on May 4 during a panel discussion at the National Equine Law Conference in Lexington, Ky. that Betfair could boost the $134 million annual win wagering market in the United States by 59 percent if exchange betting was offered to U.S. customers. He also said that gross revenue in the United States under such a scenario would hit $30 million by 2007 and $50 million by 2008. The money, he said, would be shared in the form of purses by Betfair, racetracks and horsemen.
Australian media outlets reported last week that after a series of meetings with Racing Victoria's integrity department and senior management, Betfair is set to be given approval to operate on Victorian race fields in June. Racing Victoria Chairman Graham Duff said Tuesday, however, that these are premature assumptions. The RVL board, he said, did not have the issue on the agenda for its next meeting scheduled for Thursday. He added that the board has yet to formulate a position on the subject. Betfair was reportedly set to meet with RVL again today.
All Things World Cup
Online content and gaming business ukbetting Plc announced Monday that its sports content provider, TEAMtalk Media, has signed a partnership agreement with mobile network operator O2 to launch Football365 Chat, which enables football fans to discuss the latest football action via their mobile phones just ahead of the World Cup. Football 365 Chat will also enable fans to win prizes and chat with football celebrities. ukbetting this week additionally launched Football365 in Germany on mobile phone operator 3, where it will host and publish 3's tournament news coverage as well as offer its full range of downloads. TEAMtalk Media will also be launching a German-language version of its odds comparison site, oddschecker, to cater to World Cup betting fans in the host country. Oddschecker.de will cover all major European football action, in addition to all World Cup markets.
Britain's Centre for Economic and Business Research has predicted a £1.25 billion boost to the United Kingdom's economy as a result of World Cup fever. The consultancy group says that consumer spending and higher business spending on advertising will provide much of the short-term boost and estimates that an additional £750 million will be spent regardless of how England progresses in the tournament. The British Retail Consortium has calculated that World Cup-related purchases will increase consumer spending by an additional 50 percent to £3 billion during each month of the tournament.
Online sports betting firm Blue Square says it is now generating its own price offering independent of the traditional single starting price that is common to all bookmakers. "Customers will still have the choice of taking starting price or of taking Blue Square prices," Martin Belsham, CEO of Blue Square, said. "However, this will reflect the Blue Square market position and not the combined risks of Ladbrokes, Coral and William Hill." It is also a response to the changes betting exchanges have made in the betting landscape.
The Football Association (FA) is set to investigate claims that a League Two match in March between Boston United and Carlisle may have been fixed. The FA said it received a letter from a professional gambler citing significant sums of money from the Asian markets being staked on one side winning the match by a margin of more than one goal, which was exactly the outcome as Carlisle won the match 4-2 with a goal in the last minute. Boston United chairman Jon Sotnick has threatened legal action over the claims and is launching his own investigation. "It's obvious whoever started this rumor has a grievance against us," he said. "I've instructed lawyers to investigate and I'll do everything to press charges against those who started this story."
Tote Odds Back on in Victoria
Victorian bookmakers will again be able to offer punters a tote odds service, which should enable them to compete with interstate corporate bookmakers. Racing Victoria (RV) reversed its position on the issue after revisiting its race fields legislation when former CEO Robert Nason left to take a position with Tabcorp. Citing integrity concerns about pools being manipulated by bookmakers or punters, Nason and the RV stewards' department were behind the move to stop bookies from offering the services. RV Chief Steward Des Gleeson said certain risk management strategies will be worked through with the VBA, and following that, bookmakers will be able to bet tote odds. He added that it could happen as soon as June 1.