Hong Kong Jockey Club slams "cavalier" Betfair Australia in betting rights row
Racing body attacks Crown Resorts-owned operator for offering bets on its races without permission
The Hong Kong Jockey Club (HKJC) has written an open letter to the Australian arm of Betfair, criticising its decision to offer exchange betting on Hong Kong racing from September.
In the five-page letter to Betfair Pty Limited, operated by Crown Resorts, the HKJC claimed that betting exchange platforms posed “unique and fundamental” threats to the integrity of horseracing.
The HKJC said its jockeys objected to being exposed to the “suspicion and innuendo” associated with riding a losing favourite.
Betfair Australia began offering exchange betting on Hong Kong racing on 1 September, but the HKJC said the exchange had not asked for its permission prior to announcing the launch.
The HKJC said Betfair has acted in a way which was “cavalier, unconscionable and in reckless disregard” for the economic value of racing in Hong Kong.
The Jockey Club did acknowledge that Betfair had made several attempts to obtain approval from the HKJC, but these attempts have been rejected.
https://twitter.com/Betfair_Aus/status/1164101080927604741
The HKJC also called into question Betfair Pty Limited’s owners, Crown Resorts, saying it is “critically concerned” about the governance of the business, following claims in the Australian press that the firm breached Australian gambling and AML laws.
In closing the letter, the HKJC demanded that Betfair Pty “cease and desist” offering betting on Hong Kong horseracing via its betting exchange, including in-play betting and demands that all promotional activities be likewise suspended.
Betfair Australia chief executive Tim Moore-Barton has previously downplayed any risk to the integrity of races, telling the South China Morning Post: “The level of transparency we have with racing stewards is world-class.”
Moore-Barton also dismissed any suggestion that exchange wagering would reduce betting into the HKJC pari-mutuel pools.
“What’s been shown elsewhere is that big punters might arb between pools anyway, so it actually stimulates growth. It doesn’t cannibalise growth,” he said.
Moore-Barton said the decision to launch Hong Kong betting was driven by difficult business conditions in Australia and Betfair was happy to hold further commercial discussions with the HKJC.
The full letter can be found here.