Skip to main content

Tasmanian govt to change wagering taxes to create more jobs

Interesting times in Tasmania. Not only did they break ranks and license Betfair, much to the annoyance of all the Aus mainland states, now they have the Tas Tote up for sale and are looking at completely restructuring the tax regime in order to create more jobs. Tasmania has quite high unemployment and faces an exodus of youth each year as teenagers finish school and head to Melbourne or Sydney usually to study or find work.


Tote Tasmania Sale Looks To Raise Over A$200m


The government has also suggested the ending of wagering taxes on pari-mutuel and fixed-odds betting. Like Betfair, Tote Tasmania will now run under the aegis of the Tasmanian Gaming Commission.

Coleman said the new regime would ensure the growth and profitability of Tote Tasmania while providing a secure future for the Tasmanian racing industry. “The legislative package released today shows that Tasmania supports business and offers an innovative and well-regulated environment in which to operate a successful business.”

Tasmania Treasurer Michael Aird said the privatisation of Tote Tasmania was designed to attract new offshore and domestic investment and create jobs to benefit the Tasmanian economy. Said Aird: “The government is confident that the quality of the Tote Tasmania business, and the competitive tax and licence regime, will generate strong buyer interest. The reforms outlined today will further enhance its value and increase its appeal to potential buyers both outside and inside Australia.”

Comments

Popular posts from this blog

lay the field - my favourite racing strategy

Dabbling with laying the field in-running at various prices today, not just one price, but several in the same race. Got several matched in the previous race at Brighton, then this race came along at Nottingham. Such a long straight at Nottingham makes punters often over-react and think the finish line is closer than it actually is. As you can see by the number of bets matched, there was plenty of volatility in this in-play market. It's rare you'll get a complete wipe-out with one horse getting matched at all levels, but it can happen, so don't give yourself too much risk...

The Melbourne Cup preview 2019

We're back again for the greatest race on turf, the world's richest staying race and the only race in the world which creates a public holiday for millions of locals.




Once again a fine international field has been assembled and it's worth a deep look at the race. So get a cuppa and find a comfortable seat to plough your way through my preview!

--------------------------------

The Lexus Melbourne Cup
Group 1, Handicap, 3200m
AUD 7,750,000
Flemington 1500 local, 0400 GMT
Broadcasters - Network 10 (AUS), Racing.com (worldwide), SkySportsRacing (UK)


1. Cross Counter
Trainer - Charlie Appleby (one previous Cup win)
Jockey - William Buick
Breeding - Teofilo - Waitress
Drawn 5, Weight 57.5kg

Last year's impressive winner who doesn't get the 3yo weight advantage this time. Won first up at Meydan in March but has run fourth, third, fourth in the big set weights staying races in England and Ireland, never quite making it as the next big staying star. While running close behind Stradivar…

hope for investors in the Centaur scandal?

In a breaking story, it has been reported that directors of the failed sports investment fund Centaur have had their assets frozen in order to repay investors. It is believed that managing director Keith Sobey skipped town trying to avoid prosecution however he either naively thought Ireland was a safe enough place to hide or had a lingering feeling of guilt and sat waiting for that knock on the door.

Sobey, the name behind Centaur (read the original story here), is believed to own four houses, worth more in total than the missing £1.6m. His willingness to sell them to repay investors is likely to keep the matter out of the courts, and at least one other director, Andrew Cork, will apparently follow suit.

All this adds weight to anecdotal evidence that the collapse of the fund came down to mismanagement rather than fraudulent deeds. As costs grew (why would you set up a training academy in central London?), margins evaporated and keeping the business afloat went through money like a…