According to widespread reports in the Australian media, Peter VLandys, racing NSW chief executive, was sharply critical of the state Premier's office over reports that it plans to award betting exchange Betfair an operating license.

"Our concern is that we weren't consulted," VLandys said. "If Betfair cannibalize the totalisator revenue, we could lose tens of millions in revenue. Other forms of wagering can't compete against Betfair. VLandys said that the financial effects of Betfair being allowed to operate in NSW could cost the industry, already crippled by a horse 'flu crisis, tens of millions of dollars in revenue.

"Under its proposals, Betfair would pay 24 cents for every $100 bet compared to $1 by bookmakers and $4.50 by the totalisator. This means that turnover would have to increase from the existing $4.5 billion per annum to something like $80 billion. That, of course, is totally unrealistic."

”I have yet to hear from any member of the NSW government about the issue and I only know what I had read in the media about the state government's plans to award Betfair a license,” said VLandys.

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