I know that you’re using a metaphor, but I doubt that Todd has...

I know that you’re using a metaphor, but I doubt that Todd has left the country … flight restrictions?
If the share price continues to drop what will the uplift be after the license is granted?

Surely after the grant the hard work begins (i.e. converting US punters to fixed odds which hasn’t worked in the past, yes I know Betfair is not a bookmaker but exchange, but fundamentally you put you bet on at the odds offered and you get back a fixed return).

The measure of success will not be getting the licence but surely producing a $$ result for the industry and stake holders.

Can the price jump 15c on this announcement (given we know it is coming)? Will there be daily downwards pressure every day after? Is this just a cash out position after a big announcement?