DISCLOSURE NOTICE
IMPORTANT CUSTOMER DISCLOSURE NOTICES for all Australian customers
THE BETFAIR SYSTEM
Betfair Pty Limited (Betfair) is part of the global Betfair system and is jointly owned by the Australian public company, Publishing & Broadcasting Limited and the UK company, The Sporting Exchange Limited.
Betfair is the holder of a licence issued by the Tasmanian Gaming Commission (TGC) under the provisions of the Tasmanian Gaming Control Act 1993 (the GC Act), effective from 7 February 2006. As a holder of this licence, Betfair is required to operate the betting exchange in Australia in a way that complies with the terms and conditions of the TGC and the GC Act.
When placing bets on Australian Events, you will be placing bets with Betfair rather than directly with other customers and you will be bound by the Privacy Policy and Australian Market Terms & Conditions . To view these click the links below
(i) Privacy Policy
(ii) Terms and Conditions for Australian Events and Australian customers betting on non-Australian Events
When placing bets on non-Australian Events, you will be bound by the General Terms & Conditions. To view these click here.
UNDERSTANDING THE BETFAIR SYSTEM
To see how the Betfair betting exchange works, click here.
RISK OF LOSS
As with any wagering activity, by placing a bet, you may lose money. If you lose, money will be debited from your account. We also refer you to our “Responsible Gambling” policy which appears on our website. To view this policy click here.
TRUST MONEY
Before you are able to start betting on the Betfair betting exchange, you will need to register with us and place funds in a trust account administered by The Sporting Exchange (Clients) Limited (the trust). This trust is regulated by United Kingdom laws.
You may withdraw available funds from your trust account at any time. You may not withdraw funds that are being used to secure matched bets on an unsettled event. Betfair may withhold the funds in your account where it suspects the account has been linked with fraudulent or dishonest activity or where required by law or a regulatory or enforcement agent (which includes the TGC and other authorities under the provisions of the GC Act).
The terms of the trust are regulated by the Trust Deed which can be viewed in the “About Us” section of the website www.betfair.com.
ACCOUNT BALANCE, PAYMENTS AND WITHDRAWALS
If you have an account with Betfair, you will be able to obtain a current account balance setting out the amount of current funds in the account and the betting activity on your account. When using the Betfair betting exchange website, the balance of your account is able to be viewed in the top right hand corner of the screen at all times.
Other than as indicated in this document, no charges will be imposed on you by Betfair for withdrawing funds from your account. For details on how to withdraw money from your account, click here.
You will not receive interest on any funds held in your account.
CHARGES AND FEES PAYABLE
You will be required to pay a commission to Betfair on the total amount of your net winnings on a particular market on an individual event. No commission will be payable on net losses. Betfair can vary the commissions payable from time to time. Transaction fees may be charged if you place more than a specified number of transactions on the betting exchange (currently 1,000 bets in any one hour). You will also be liable to pay any bank fees or credit card fees associated with deposits, withdrawls and related transactions.
More information about the fees payable and Betfair’s rights in respect of these fees can be found at
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CUSTOMER RELATIONS AND DISPUTES PROCEDURE
To view how Betfair deals with disputes, please click here. You are invited to direct any complaints and comments in relation to betting and your accounts to our helpdesk staff, either via email at ausinfo@betfair.com or on our Australian freecall number 1800 644 738 .
CHANGES TO THE TERMS & CONDITIONS
Betfair may at its absolute discretion change the Australian Terms and Conditions at any time. Betfair will notify you of any changes either via email or through notices on our website and forum. To view the latest changes to the Australian Market Terms & Conditions and FAQ’s please visit our website www.betfair.com. To go to the Betfair forum click here.
UNAUTHORISED OR MISTAKEN TRANSACTIONS
If you believe that there are transactions on your account that may be unauthorised or mistaken, or you believe that the usernames/passwords required to use the betting exchange (or any other sensitive account information) may have been lost or stolen then please contact ausinfo@betfair.com or telephone our Australian freecall number: 1800 644 738 .