Betfair Trading and the situation with Portugal…
Some of you may have seen the news last week about Betfair withdrawing its services from Portugal. The withdrawal come after Portugal started to operate under a new on-line gambling regime.
Several Portuguese traders have contacted me over the last week or so. It’s quite surprising to see how many people this effect actually. Quite sad too…
One trader in particular emailed me to ask where would be best to live in the UK. With the amounts of money on offer available from the Betfair markets it’s not all that surprising I suppose. If that’s the case for you, all I can say is – be prepared to be disappointed by the weather!
Hopefully there will be further changes although it doesn’t look all that likely at the moment. Betfair must be feeling the pinch a bit too, as im sure there are many Premium Charge paying customers in Portugal. Mainly from trading the football. My first thoughts were of Paulo Rebelo, although others were quick to point out he comes to the UK to trade regularly anyway. For those that speak the language I don’t doubt there will be plenty of insight from him on his forums and website.
With several countries having now changed betting taxes to focus on turnover instead of revenue it does leave one wondering. Seems extremely unlikely any time soon this would happen in the UK, although its something to think about for the longer term I suppose.
It leaves an interesting question, for those that trade full or part-time on Betfair, topping up their income to a noticeable level –
What would you do if Betfair were to disappear tomorrow? Of even if it has happened to you recently – What do you plan to do now? (comment below!)