News

8/04/2008

TOTE Tasmania has entered into an agency agreement with Betfair that will provide it with access to Betfair’s global customer base of more than one million punters.



The arrangement is anticipated to add tens of millions of dollars to The TOTE’s annual turnover.



TOTE Tasmania Chief Executive Officer Craig Coleman said the increased turnover would ultimately benefit the Racing Industry through increased returns from 2009/10.



Mr Coleman said under the agency agreement, Betfair’s customers would be given the opportunity to bet on The TOTE products.



“When you add this to TOTE Tasmania’s own plans for growth, the additional funding will help to secure the future of what is already a strong and vibrant Tasmanian racing.”



Mr Coleman said TOTE Tasmania and Betfair shared the view that the new relationship was a logical step for the national industry to offer wagering services to a new set of international customers.



“It is worth noting that Tasmania is the only jurisdiction in Australia whose licensed wagering companies are allowed to advertise in the UK,” he said.



“Betfair already has more than one million registered customers in the UK which it can market Australian racing to immediately.”



“We’ve always maintained that Betfair’s exchange products complement those of the traditional operators,” said Betfair Chief Executive Officer, Anthony Klok.



“This agreement enables us to leverage our technology and online distribution expertise to better meet the needs of our customers,” he said.



Betfair customers will now have the convenience of being able to bet on a broader range of products from their existing Betfair account.



For Further Information contact:



Wendy Kennedy

Corporate Relations Manager

TOTE Tasmania

Tel: 0438 100 446

w.kennedy@thetote.com.au



Andrew Twaits

Director, Corporate and Business Affairs

Betfair - Australia

Tel: 0408 374 649

andrew.twaits@betfair.com



http://www.totetasmania.com/release.aspx?id=9EC0B7C5-1F1D-4715-9E05-E9BC00C7D033