Betfair moves offshore..

[chrisobee]

http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/leisure/8369475/Betfair-worries-racing-industry-with-move-offshore-to-save-tax.html

 

I received an email from them yesterday stating :

 

"This email is to inform you that Betfair has taken the decision to restructure the licensing of its UK business. The changes will not impact your betting experience or the features available to you.

 

With effect from 00.01 on March 9th a new set of Terms and Conditions applies to the placement of Betfair exchange bets by you. These new terms will be available to view at Betfair.com from the above time.

 

After the above change comes into effect, any further use of our site, or services relating to it, will constitute acceptance of the new Terms and Conditions by you.

 

This change means that from the above time, you will be contracting with a licensed betting operator (TSE (Gibraltar) LP) within the Betfair group which is based in Gibraltar, and not Betfair Ltd, as was the case before. TSE (Gibraltar) LP's activities will be governed by Gibraltar gambling regulations."

 

Personally I have felt for some months that Betfair were becoming far less interested in their Customers than was previously the case, this move surprises me not in the least. To be honest my betting on horse racing etc; is minimal though as per the horse racing threads I do enjoy the challenge of trying to find winners. So I'm not really bothered, if I have a free bet I want to "lay back" to ensure a profit I can use Betdaq who are currently offering a decent promotion for Day 1 of Cheltenham :

 

http://www.betdaq.co.uk/UI/?pc=CHELT11

 

[Gemmel]

The move changes nothing and the email is simply a compliance thing. Betfair has always been based in Gibraltar as our most other gaming companies. Whatever your gripe about the level of service or their interest, it has nothing to do with the email you have posted.

[chrisobee]

Of course the move changes a lot of things, not least that their contribution to the racing levy of £6m becomes voluntary. In terms of my experience I have felt for a number of months ( as indeed do many other people I know ) that it was almost as if you were dealing with a different company, this move just emphasises that feeling. I posted the email for information, as I said I don't really care where they are based from a personal perspective.