PHUMELELA GOLD ENTERPRISES MEDIA RELEASE: Betfair

PHUMELELA GOLD ENTERPRISES MEDIA RELEASE
SUBJECT: Betfair
DATE: Friday 10 July 2009
RELEASED BY: Phumelela Gold Enterprises

Phumelela Gold Enterprises and Betfair are delighted to announce that Betfair’s two million customers will be able to bet into South African tote pools and watch live streams of races from next week Monday 13 July.
Tote bets on South African races taken on the Betfair platform will be channelled into TAB pools hosted on Phumelela’s Amtote betting system in Johannesburg .
The ability to place tote bets on South African races on Betfair is an added service for Betfair customers and will assist in publicising racing in this country internationally.
Phumelela’s Group Chief Executive Officer Rian du Plessis is delighted with the deal and said: “The future of tote betting lies in the online environment and Betfair is a significant player in this market.
“Betfair are an extremely progressive operation. This matches our ambitions and consequently we are examining other areas of co-operation,” added Du Plessis.
Betfair’s Head of Horse Racing Business Development Steven Johnson said: “This deal further underlines our commitment to the support of international racing. We now have tote betting on our site in four jurisdictions – South Africa , Ireland , Australia and the UK – and this partnership will send money back into South African racing both from our exchange and the Tote product.”

About Phumelela Gold Enterprises (PGE) www.tabonline.co.za :
> Phumelela Gold Enterprises (PGE) is a joint venture between South African horseracing and tote betting operators Phumelela and Gold Circle. PGE is managed by JSE-listed Phumelela and owns the domestic and international broadcast and information rights to South African horseracing. PGE also sets fixtures for all South African racecourses and owns and manages Tellytrack , South Africa 's domestic horseracing TV channel.
> PGE has acquired the worldwide betting-related broadcast rights to 30 of the UK 's 60 racecourses (the Racing UK rights), including 10 of the 12 "Super" tracks from Racing UK (RUK).
> PGE, in partnership with Racing UK and the UK Tote (Totesport), offers a daily racing-betting package to the global market on South African-based TV channel Racing International, which is beamed via satellite across six continents.

About Betfair www.betfair.com :
> Betfair is the world’s biggest online betting community and pioneered the first successful betting exchange in 2000. Driven by cutting-edge technology, Betfair enables customers to choose their own odds and bet even after the event has started. The company now processes over 6-million transactions a day from its 2-million registered customers around the world. In addition to horseracing and sports betting, Betfair offers a portfolio of innovative products including casino, exchange games and poker.
> Betfair has twice been named the UK’s ‘Company of the Year’ by the Confederation of British Industry and remains one of the only betting companies to win a Queen’s Award for Enterprise, being recognised for Innovation in 2003 and most recently for International Trade in 2008.
> Betfair currently employs over 1,500 people, principally in London , Malta and Tasmania . The company is a licensed betting operator in the UK , and holds licenses in Australia , Germany , Austria , Italy and Malta .

Now the next step,GET BETFAIR LEGAL IN RSA!

Sounds great, bring on Betfair and well done Phumelela for realising that Betfair is the way forward. I remember this site always campaigned for Betfair to be legal.

Scotia, you were once talking about your Betfair connections and how you enjoyed their hospitality at UK race days, can you confirm we in South Africa can legally open accounts now or do we have to wait?

Nothings changed ,phumelela have decided to Skim some cream for themselves "knowing" imo that betfair will never be granted or are unlikey to ever be granted a License...

RSA and UK have signed a double tax treaty a year or two ago...
That implies that if I earn money in the UK, I will be taxed in the UK, and not be taxed in RSA again...

Now, whether I earn the money from working there as a programmer, or punting...does it matter...in both cases I will be taxed in the UK...the tax treaty will come into effect...what is the problem...

The gambling board advertises in the computaform.......it's illegal for RSA citizen to bet on overseas betting exchanges...whether I sit in the UK and program or whether I sit in RSA, signon to a server in the UK and program...


It seems that the law..the tax treaty...got itself in the !@#$%^&*()_)(*&^%$

SO...this is what you do....

Go to Standard bank...tell them you want to open an account in the UK...
They do it for you......
Transfer from standardbank RSA to STDBANK UK....
Transfer from STDBANK UK to betfair...

or better...
Go to Mauritius...also have a tax treaty with RSA...
The RSA BANKS ARE THERE....charge almost the same interest..give almost the same interest..
OPEN AN ACCOUNT.....SPECIFY that you want to keep your money in EURO..
TRANSFER MONEY (RANDS) FROM RSA TO MAURITIUS and store it as EURO.....INVESTEC

Murphy's in PEREBEYE...opposite HARDROCK CAFE...all the bankers hang out there at night...go there...get them to help you......

hibernia Wrote:

---

> Nothings changed ,phumelela have decided to Skim
> some cream for themselves "knowing" imo that
> betfair will never be granted or are unlikey to
> ever be granted a License...


That would be a big shame if you are right Hibernia, hope Scotia or someone from ABC confirm

Betfair can obtain RSA licences....
Take current Licence, move it to a PTY Ltd.....BETTERODDS (my licence) were like that...
Once the gambling board approves....formallity...
Change the CM42 certificates (shareholders) to show that a trust owns the shares...
Betfair created the trust...
Betfair are the trustees of the trust....
Betfair Beneficiaries of the trust....

Change the CM29 certificates (directors) to show someone from the Uk to be a director...


What stops them.....

They can buy out all 104 GAUTENG bookmakers...either 100% or more than 50%...

who are going to stop them...

Its business...not gambling....
there is no law stopping anyone from having a RSA company...
There is no law that says I cannot sell my shares to an overseas company or person...the gambling board have no control over that...

Hi Andrewest, the Phumelela press release says good things about Betfair so maybe that would not be needed.

Hibernia and other UK based people on this forum can back and lay on SA races as they please so hopefully we can join them now or soon, just want someone to confirm

Can Margaret help..?

If they allow that...we can back and lay...the current bookmaker licences are worthless.....
I bought mine in 2004 from Ralph for R5000...many were available...
Sold it in 2006 for R100,000...many were sold....
They tell me the licence is worth R700,000 now...figment of their imagination..

The gambling board (HANNES AND FRIENDS) on RACING will be history....
The bookmakers will be history....licence will be worth R5000 again...
Interbet will be history...

only Tote and Betfair will be left...

HENCE......THEY WILL NEVER APPROVE IT.....
Read My article on Bookmakers beyond 2010....
Bookmakers will be gone in 2 years.....their business models will destroy them...

The venues are becoming a problem too...
Were at Northcliff corner today...
Nigerians caused havoc...arguments about R10 soccer bets...
Police had to march them out....

These guys don't respect a life...
will start shooting...
We cant shoot back..had to hand in guns...
Must we carry hand granades now...mexican stand off...

reality...none of the venues are places that one should frequent any longer...
Best I sit at home and punt on BETFAIR...
Keep my money in THE UK.....

I think Margaret from Phumelela or Scotia of ABC should clear the leagility up for us AndreWest, I don't wish to be rude but read the press release again, Phumelela say lots of good things about Betfair

It would be silly for me to go back on what I said on this site when we opened, that Betfair is possibly the most innovative concept in gambling I have ever used,
however it has been regarded illegal in SA and we have Interbet as a good substitute if you punt, but cant lay, which has never been a concern of mine.

I am rather concerned that Phumelela have always regarded Betfair and exchanges as a cancer and in all publications as a threat to use, now they publish that they are happy to be a partner, probably good for business, but not that ethical. imvho