Betfair strike deal with Australian National Rugby League
Betfair are one of the foremost betting exchanges on the planet and they have further boosted their profile thanks to a long-awaited deal with the Australian National Rugby League, this allowing the major betting platform to host wagering in this massive competition. Upon announcement of the deal, Betfair joined a handful of other betting firms operating in the country in complaining about high fees being charged by the NFL. Indeed talks between the sports’ governing body and Betfair broke down ahead of the new season over fees and Betfair Australia chief executive Tim Moore-Barton stated that the agreement that his company had secured with the NFL was around four times more expensive than AFL. As such, Betfair has had little option but to increase the commission it is charging to customers.
According to some media outlets, Australian gambling industry experts state that the fees charged by the NFL are the highest of any of the country’s sports and as such, betting platforms have few incentives to promote NRL markets. As such there is a danger that punters might instead turn to offshore operators in order to bet on games.
The deal between Betfair and the National Rugby League comes as the sport looks to restart the 2020 season following the shutdown caused by the Covid-19 pandemic. Only two rounds of the season were played before things ground to a halt and the action is set to resume this coming weekend.
Regarding the high fees being charged by the NRL, Moore-Barton said: “Unfortunately, their product fee model singles out high-volume, low-margin operators such as a betting exchange.”
Nevertheless on a positive note he added: “We applaud the NRL for the incredible work that has gone on during lockdown to secure the NRL’s future and to bring the season back to its fans at the earliest moment possible.”