Betfair, the popular global sportsbetting company, will act as TOTE Tasmania’s official online betting exchange agent, according to an agreement signed between the two. The deal will benefit the Australian horseracing industry, and will bring in tens of millions of dollars in revenue to TOTE Tasmania. 

Betfair’s Chief Executive Officer, Anthony Klok said: “We’ve always maintained that Betfair’s exchange products complement those of the traditional operators. This agreement enables us to leverage our technology and online distribution expertise to better meet the needs of our customers.”