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Letters to the Editor

From time to time, a commentary on the world will bubble up inside of me to the extent that I'm forced to write a letter to my local, metropolitan, daily newspaper, The Age. This is where I blow of some steam. Feel like venting too? Add your own comment or visit my homepage.

Friday, November 04, 2005

BetFair is Good News for Probity

Those of us who believe that gambling has been a net loser for this state should welcome the introduction of UK gambling outfit BetFair. With their much lower margins and higher returns to punters, BetFair will drive down the profitability of Victorian gambling. Not only will this help wean our government off taxes, it will reduce incentives for collusion, lobbying, secret deals and other "rent-seeking" rife in the industry. Minister Pandazopolous' spurious arguments about the integrity of football matches and his churlish threats highlight just how captured by the big incumbents our politicians have become.

I'm more worried about "fixing" between politicians and industry groups than any horse race. By squeezing out profits, BetFair will increase the probity of this dubious duopoly.



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