CA, Betfair sign revenue sharing deal

Cricket Australia has signed an agreement with internet betting exchange Betfair to share any revenue generated from wagering on cricket matches, including the current Ashes series.

The move follows similar deals already signed with the AFL and the PGA Australasian Tour by Betfair, the world's leading betting exchange that this year was licensed to operate in Tasmania.

This means the sporting bodies will get a share of any Betfair profits made from bets on cricket matches, AFL games or golf tournaments.

"Betfair has long held the view that Australian sporting organisations are entitled to a fair share of the revenue generated by wagering operators who offer markets on their events," Betfair's Australian director of corporate affairs Andrew Twaits said in a statement.

"We're delighted to be the first sports betting company to reach a funding agreement with Cricket Australia and to be contributing to the ongoing prosperity of Australia's favourite sport.

"Having now entered product fee and integrity arrangements with the AFL, the PGA Tour of Australasia and Cricket Australia, we hope to enter similar agreements with other major sports in Australia in the near future."

CA chief executive James Sutherland said his and other sporting organisations had been trying for two years to get a share of revenue from betting on their events.

"Together with other major Australian sports, Cricket Australia has for more than two years been seeking recognition of sports' right to access betting information relevant to managing the integrity of our competitions, as well as obtaining a share of revenue from betting on our events," Sutherland said.

"Betfair, to its credit, believes in the same principles and our agreement reflects this.

"With the Victorian Government's draft sports betting legislation set to recognise the same principles, Australian sport will be well placed to oversee the integrity of its competitions and to receive a share of funding from betting."

CA and Betfair have had an information sharing agreement since 2004, which gave CA complete access to Betfair's betting records (including customer details) for integrity-management purposes.

Betfair has similar deals with overseas sporting bodies including the International Cricket Council, the International Tennis Federation and the ATP tour, the English Football Association and UEFA, rugby league and rugby union in the UK, Racing Victoria and thoroughbred regulatory bodies in the UK, US, Ireland and South Africa.

Betfair allows punters to bet among themselves and generates revenue by charging a commission of between on a punter's net winning result.

The operation can match up to five million bets per day, 95 per cent of which are placed on line with the remainder placed by telephone.