Internet wagering firm Betfair Ltd has entered into an agency deal with Tasmanian totalisator provider TOTE Tasmania, under which Betfair will distribute the Tasmanian group's betting products to Betfair's international client base.
"We'll be distributing TOTE Tasmania products to our customers worldwide," Betfair corporate and business affairs director Andrew Twaits said.
"What that means is that Betfair customers will be able to bet directly on TOTE Tasmania products directly through their Betfair account.
"There will be a single log-in, a single interface and a single account, so no transferring of funds. The convenience factor that we're announcing today is compelling."
Mr Twaits said Betfair has more than 1.1 million active customers globally.
"We (Betfair) are ideally placed, we think, to take Australian racing to the world," he said.
"For every dollar that is bet through the TOTE Tasmania interface on Betfair, money is returned to both the Tasmanian industry and via the participation fee that TOTE Tasmania pays to Tabcorp for being a part of the SuperTAB pool, and a share of that revenue goes directly to Tabcorp as well."
TOTE Tasmania participates in gaming giant Tabcorp Holdings Ltd's SuperTAB pool.
Pooling is where totalisators combine the bets placed with them to form bigger pools.
The two suppliers of pooling services are currently Tabcorp and Tatts Group Ltd.
The SuperTab pool operated by Tabcorp combines bets placed through Tote Tasmania, Racing and Wagering Western Australia, ACT Tab, and Tabcorp in Victoria.
Tabcorp also operates the Tab Ltd pool in New South Wales.
Mr Twaites said the agreement would not stop Betfair from entering into similar arrangements with other pools, such as Tabcorp in NSW, and Tatts Group.
Betfair said it expects to launch its new service towards the end of May 2008.
Betfair will receive a share of net revenue for acting as TOTE Tasmania's agent, The commercial details were not disclosed.
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