New Deal for Betfair Australia

Two Way Limited closes three-year agreement with Betfair A new announcement came in the Australian market this week, when interactive media and gambling applications company Two Way Limited reported that it has closed a three-year deal with online betting exchange Betfair Australia. Based on the deal, Two Way will launch TV sports betting service on the new generation of TV sets and Blu-ray players with built-in connections to the internet. This service will take bets via the TV remote control on all sports events broadcast by free-to-air TV, pay TV, or any form of IPTV. Also, the deal proscribes that Two Way will receive a license fee for its technology, and an ongoing share of all Betfair revenue generated via this platform, but it will also act as Betfair's exclusive provider of all sports betting services via any TV platform for the term of the deal. It was stated by Two Way's CEO and Managing Director, Ben Reichel: “TV sports betting is an exciting new initiative in the Australian marketplace. Our TV wagering service on racing events is popular with punters, and also offers high standards of integrity and commitment to responsible wagering.” “Betfair has repeatedly demonstrated its commitment to innovation, and its understanding of the opportunities offered by new media and technology. We look forward to working with them.”