CLICK HERE TO OPEN A BETDAQ ACCOUNTBETDAQ, the betting exchange, applauds the Joint Committee on its
assimilation of the vast quantities of complex information with which it has been presented in relation to
betting exchanges.
Its commendation of our shrewd business model and recognition that increasing
our regulatory burden is unnecessary are particularly welcome.
We are disappointed however by the
Joint Committee's comments on the subject of non-recreational layers. We strongly share the DCMS'
original view that such a defined category was neither necessary nor workable in legislation.
While feeling somewhat caught up in a commercial Groundhog Day scenario, we nevertheless accept
the recommendation that we discuss this further, perhaps with more reason and less grandstanding on all sides
than has previously been the case.
If the Joint Committee, at the suggestion of the bookmakers
believes there is a workable threshold to define non-recreational betting, then surely it will deem it to be
correct to apply it across all sectors of the industry.
To make things interesting as we debate the
subject again, perhaps we could look at how traditional bookmakers might be encouraged to use already
available EPOS equipment to tag each bet to an individual in the same way that BETDAQ does. By so
doing, we may yet remove a genuine hole in the Bill's well intentioned desire to aid integrity, and to draw
down revenue on a fair and equitable basis.
On the question of integrity, we welcome the
Committee's exhortation that the bill enabling the Gambling Commission be introduced quickly, but in the
meantime will continue to work closely with the Jockey Club in pointing out areas and incidents of possible
concern.
Ours is a disruptive technology. One which poses, in the words of the Joint
Committee, a serious challenge to the business model of the existing bookmaking industry. As a result of its
genuine appeal to the betting public, it has been warmly welcomed by bettors in Britain and around the
world.
We believe that in many ways the BETDAQ service is also of benefit to bookmakers.
Nevertheless we accept the obvious truth that the big corporate firms do not like us because of our
commercial threat. They are tenacious and intelligent, and in the case of their opposition to exchanges, very
determined.
Today's report and its recommendations to join further debate will see us lock
horns once more, but we believe that our argument in favour of the free market will win out again.
Rob Hartnett, Betdaq.co.uk
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