Betfair CEO says online gambling needs controls

[The Buzz]

The issue of online gambling legislation is a hot topic in Australia right now. Betfair CEO Andrew Twaits was in Melbourne last week and said during Productivity Commission hearing that he couldn't promise there wouldn't be more problem gamblers if legalization occurred.

Twaits does support liberalization of online gaming laws in the country.

From The Sydney Morning Herald:

''I can't sit here and tell you there won't be more problem gamblers created through online gaming or online wagering," (Twaits said.)

''I think what we as an industry need to do is to provide the safest platform that we possibly can.

''Having the right sort of safeguards in terms of loss limits and deposit limits is the best way of preventing problem gambling.''

[Shaun O'neill]

I would be saying the same if I was going for an IPO.




Shaun