Residents of Australia’s most populated territory – New South Wales – will soon be able to enjoy Betfair’s expanded operations (taking racecourse bets), as “the government is looking into allowing Betfair and other online betting agencies to operate and advertise in NSW”.

Being allowed to operate and advertise services in NSW, Betfair will pay the government a “product fee of 20% of the betting company’s gross revenue from NSW bettors”.

The only obstacle for Betfair has been Racing NSW which, according to the company’s opinion, may lead to the loss of millions by the government if the online betting exchange enters the market and bettors bet online on horse racing.