Betfair expanding Aussie online betting model

[The Buzz]

The Australian newspaper is reporting that Betfair wants to offer financial betting as well as online poker and casino games to Aussie residents.

The company's Australian chief executive, Andrew Twaits, said that he thinks "Australia is going to be squarely on the strategic map of a lot of those international businesses, so you will probably see more players come into the market."

From The Australian:

Mr Twaits said the gaming industry was in for a period of domestic consolidation that would also see new foreign competitors such as Ladbrokes, William Hill and Coral join the field.

The recent Productivity Commission draft report recommending widespread liberalisation of online gaming laws has sparked a surge in interest in the Australian industry, with Ireland-based Paddy Power buying control of Sportsbet and IASBet, and several foreign powerhouses -- including Ladbrokes and William Hill -- eyeing a takeover of Centrebet.