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Posted by: ian_go at February 20, 2006, 10:14 pm

Topic: Betfair really making headway! Forum: Winner Online

No nonsense deal leaves Betfair with red faces

Bookmakers inadvertently took centre-stage at yesterday's racing industry lunch to announce the weights for the John Smith's Grand National, with betting exchange Betfair subject to an ambush by Ladbrokes shortly before letting slip plans to challenge traditional bookmakers head on.
Betfair is the official betting partnerof the Aintree race and in his speech Betfair's communications chief announced that the exchange will launch a "win only" site in time for the Cheltenham festival next month. The new site is intended to appeal to punters put off by the complexity of the current site, which allows customers to lay horses to lose, and will look like an ordinary bookmakers'. Other punters will still bear the risk however, as bets will still be matched allowing the site to offer better prices.
The announcement even seemed to take some Betfair executives by surprise. It was their second shock of the afternoon after Tim Seegar, head of sponsorship for Scottish & Newcastle, owners of John Smith's, left them unamused by lavishly praising rivals Ladbrokes during his speech. Ladbrokes has done a promotional deal with the brewer, thus garnering publicity while avoiding the expense of paying to be official Aintree partners.

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