Secure adnxs

Voluntary funding dispute between Betfair and HRI


More details have emerged regarding the voluntary funding dispute between the international online betting exchange Betfair and Horse Racing Ireland

It appears that Betfair's offer of a further voluntary investment of Euro 4.5 million over the next three years has been rejected by HRI, which wants the gambling group to double its contribution. Betfair has declined to do so, indicating that it will leave the door open for further talks going into 2010.

Betfair's offer of payment comes despite the Irish operation representing less than 5 percent of its total revenue.

Over the past three years, Betfair has made a total of Euro 4.9 million in contributions to the HRI in a "cooperation agreement" for the good of the sport, and the rejection by the HRI management at a time when it is suffering state funding cuts and has had to scale back on prizes has surprised some observers. One unidentified senior government figure is quoted by the Irish newspaper Independent as saying: "How in the hell can they turn down a single cent at a time when budgets all over the place are being squeezed. Someone needs to take a very quick reality check."

However, Brian Kavanagh, CEO of the HRI remains adamant that he will accept only an amount double that offered from Betfair, and that should negotiations recommence in 2010 it will have to be on the basis that any deal done in 2010 would have to be done on a "pre-condition that it would be backdated to the start of 2009".

General Gambling News

Login to post a comment:


 
 

Click Here to register a new account

What's going on right now!

1mins ago someone from us flag United States played Double Happiness

Casino Community

Share this page on:
Follow LCB on:
Follow LCB

In the last 24h

Totals

  • New Members
    38
  • Members Online
    491
  • Guests
    1,711
Highest Community Rated Online Casinos
Guts Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (362 Ratings)
Mobil6000
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (60 Ratings)
Bet365 Games
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (328 Ratings)
Unibet Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (298 Ratings)
NextCasino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (347 Ratings)
Vera John Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (320 Ratings)
Casino Adrenaline
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (269 Ratings)
Betsson Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (401 Ratings)
CasinoLuck
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (425 Ratings)
Redbet Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (314 Ratings)
Rizk Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (102 Ratings)
Bet365 Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (592 Ratings)
SlotsMillion
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (217 Ratings)
32 Red Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (665 Ratings)
Lucky Red Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (391 Ratings)
BETAT Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (365 Ratings)
ComeOn Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (455 Ratings)
Winner Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (446 Ratings)
Betsafe Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (387 Ratings)
William Hill Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (216 Ratings)
Win A Day Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (652 Ratings)
Club USA Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (501 Ratings)
Mr Green Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (469 Ratings)
Ignition Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (58 Ratings)
Betfair Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (407 Ratings)
Slotland
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (584 Ratings)
Ladbrokes Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (235 Ratings)
PokerStars Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (69 Ratings)
Red Stag Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (222 Ratings)
SlotJoint Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (106 Ratings)


Follow LCB on Facebook Follow LCB on Twitter Follow LCB on Pinterest Follow LCB on Google plus