- Jul 25, 2010
- 2,182
- 1,206
- AFL Club
- Geelong
Is betfair.com.au limited to Aussie money ? Or is the money we see on their exchange somehow pooled from various international punters? Anyone know?
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They dont limit at allDo they limit foreign punters or only Australians?
you dont pay taxes?It may work out better to be a contractor with Betfair rather than setting up your own bookmaking business.
Less work, no need to hire any staff, you don't need to pay any taxes, no need to apply for an ABN, and Betfair does all the advertising for you. Yes, you have to pay commission on your winnings, but if you're a good enough contractor, you are only paying the bare minimum of commission anyway.
The other issue is that there are a lot less mug punters who use Betfair, so it's harder to get a decent ROI, and a lot of markets have low liquidity. I can't see this being much different from other bookmakers, though. A lot of corporate books would have markets available to be bet on that doesn't welcome a single cent of action.
* I may have used the word "contractor" instead of "trader" for shits and giggles, which seems to be appropriate based on the tone of this thread.
On my winnings? No.you dont pay taxes?
do you know the odds for Kim Jung Un breaking his dads world record golf score of 34 for 18 holes??Imagine being able to gamble in North Korea, doesn’t their media report anything they compete in they win even when they lose? They’d have to pay out every single time just to keep the lie going haha.
On my winnings? No.
not to the government.
but you will to betfair in premium charge when you start winning real money.
Regarding AFL punting - if I lay Richmond to win this weekend, and the game is drawn
I assume I get paid out?
Conversely - if i back the pies to win, and it’s a draw, I’m assuming I don’t get paid out?
From reading the market rules this is my best understanding - advice?