Ban on punting with a betting exchange takes effect

29/01/07
The integrity of Western Australia's racing industry has been enhanced with new legislation banning punters from placing bets with betting exchange operators coming into effect today.
Racing and Gaming Minister John Bowler said new legislation prohibiting Western Australians from using a betting exchange to wager was an essential step in ensuring the State's racing industry continued to grow.
"Betting exchanges allow punters to back a runner to lose and this has the potential to negatively impact on the integrity of racing by providing the opportunity to corruptly profit from a losing run," Mr Bowler said.
"This is a practice that could threaten racing as a whole and compromise the spirit of wagering in WA, which is why placing a bet with a betting exchange will carry significant consequences.
"The Carpenter Government has invested heavily in racing through tax incentives and supplying funding for upgrading the infrastructure of the industry in regional areas that has seen the industry forge ahead.
"The Government will not stand idle and let the threat posed by betting exchanges undermine the long-term viability of racing."
Wagering with a betting exchange is an offence that attracts penalties of a fine of up to $10,000, 24-months imprisonment or both.
Minister's office - 9222 9699