Betfair to Remove All Rugby Betting for the Australian Market
With just about two weeks to the National Rugby League, Betfair has removed the entire league games from its betting offering. There have been simmering tensions between the National Rugby League and the sports wagering industry over the proposed premium tax that the body intends to levy on grand finals betting and the State of Origin.
With the new tax, NRL plans to cash on some of the most popular rugby events that include the grand finals and the three Origin clashes. It would allow bookmakers to offer odds on these markets and earn the levies from the licencing. According to the Sydney Morning Herald, the league levies could net NRL an additional AU$1 million each year.
In a move to protest the new regulations, Betfair, one of the best online gambling sites in Australia, has decided to pull out of all the NRL markets in the upcoming Rugby League competition. Currently, punters on the site will not be able to place bets on all pre-season matches including the popular All-Stars 2020. This spectacular cultural showdown is going to take place at the Cbus Super Stadium.
While the NRL season in the year 2020 starts on March 12, various pre-season games will be happening before then. The move by Betfair looks to be a little bit on the extreme given that there are bookmarkers, which are offering the league. However, no bookmaker has announced an agreement with NRL.
Bookmaker Decry the High Taxation
The product fee is not a new thing as there was a temporary agreement that was struck last year. Unfortunately, the 2020 deal is yet to be agreed by all the parties involved in Rugby betting. However, Rugby League Central is expected to announce an agreement in the next few weeks.
Insiders privy to the NRL believe that the current rate will be an extra 20 percent over the existing rugby product fees. However, bookmakers are protesting the changes, terming them as unsustainable. They are arguing that punters would be forced to bear with high takeout rates on rugby events. Besides, this will make rugby the highest taxed popular sport in Australia.
The betting levy comes at a time when the National Rugby League is looking for a new wagering partner. The current partner, Sportsbet, which signed a $60 million agreement, will be coming to the end of the deal in the year 2020. NRL is also looking to enter into a new broadcast rights deal with the view of removing State of Origin series from other events. Overall, rugby trails other sports like soccer, basketball, AFL and tennis in terms of gambling market share.
Back to Offers
