Exchanges Unite To Back Gambling Reforms Government welcomes commitment to integrity, fairness to the consumer and protection for the vulnerable.The three principal betting exchanges Betfair, BETDAQ and Sporting Options have come together to form the Betting Exchange Trade Association (BETA). The Association was launched in London today by Lord Andrew McIntosh, Minister for Media and Heritage at the Department for Culture, Media and Sport. The new association will: Provide a forum for communication between the exchanges and help to drive best practice in the fastest growing sector of the UK´s gambling industry Represent the betting exchanges in their discussions with Government and regulatory authorities Brief MPs and Peers throughout the course of the Gambling Bill Work in partnership with the Gaming Board and the new Gambling Commission'BETA supports the Government´s plans for the modernisation of our gambling laws' said Betfair´s Andrew Silverman at the launch of BETA, 'we believe that the Gambling Bill will deliver reforms that underpin growth, while ensuring that the betting and gaming industry is accountable to a new regulatory authority. 'The fact that the three exchanges have agreed a voluntary code of practice with the DCMS, in advance of legislation, illustrates BETA´s commitment to integrity, fairness to the consumer and protection for the vulnerable - the three pillars of the Gambling Bill.''The exchange sector has grown very big in a short space of time,' added Rob Hartnett of BETDAQ. 'Events in the last week have shown that the debate on our growth and popularity is still being coloured by misconception and at times deliberate misrepresentation. We recognise that as a newcomer we have a duty to explain our model, and to inform the public, the legislature and the many bodies with whom we have a relationship, that we are an evolution of the old bookmaking model, born out of, and with our success determined by a fair, responsible, regulated, free market. The creation of BETA to represent our interests is a sign of our maturity and determination to be pro-active in the debate that will continue to rage as the industry changes over the next few years.'
