Monday, April 30, 2007
Australian bookmakers get discount for use of betting exchange

Bookmakers from the Australian state of Victoria that wish to hedge their risk at betting exchange Betfair are encouraged to do so with reduced commission rates.

While the Australian individual punter has to pay the betting exchange a maximum of 5% on the profit he makes on his bets, the bookmaker will pay 2,5%. The Commission will be reduced to a minimum of 2% depending on the betting volume.