Betfair Hails Groundbreaking Agreement
Date Posted: 6/10/2003 10:35:59 AM

Betfair has taken significant steps in its bid to revolutionize betting, with the announcement of the finalization of its Memorandum of Understanding with the Jockey Club. The groundbreaking agreement is the result of many months' work between the two organizations.

The aim of the agreement is further to protect and maintain the integrity of horseracing, for the benefit of the industry and those who enjoy betting on the sport. Its terms allow the Jockey Club to request a greater level of information than they have ever previously been able to get from the betting industry. Specifically, they can request information that will identify individuals behind activity that has given rise to a strong suspicion that the Rules of Racing have been broken.

Mark Davies, Director of Communications at Betfair, said, "This is a very important initiative for us and for the integrity of the sport. This helps build a safer, fairer and more accessible betting market, and it gives the Jockey Club a tool in the fight against corruption that is unprecedented. I am also delighted that the other betting exchanges have followed our lead in signing up to the agreement. The exchange industry has taken a bigger step in rooting out corruption in sport in its first three years than the whole of the rest of the bookmaking industry has in its entire history."

The Memorandum of Understanding will come into effect on June 16 and only as of then can the Jockey Club request information on individuals. Punters who do not sign up to the changes in its privacy policy required by the MOU will no longer be able to bet on Betfair's exchange.

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