Victorian racing industry booming - because they negotiated with bookies and Betfair

Some Australian states and other racing jurisdictions around the world are going backwards because of the pig-headed stubbornness of crusty old farts in charge of racing. Faction fighting over exclusive TV rights, trying to protect the totes from outside competition via unconstitutional laws or anti-competitive product fees etc. Victoria opened itself up to corporate bookmakers and Betfair betting on their high-quality racing with product fees based on profits rather than turnover (like every other business in the world), and suddenly a flood of money is coming in. This previously untapped resource is now bringing in the bucks and the same companies are investing plenty to sponsor races throughout the state.

Racing Victoria details growth

Meanwhile in NSW, head muppet Peter V'Landys is bleeding the state's racing industry dry, taking the corporate bookmakers and Betfair on in court, in a case he simply cannot win, based on any reasonable understanding of business law in the 21st century.

Any business which cannot and will not move with the times deserves to go bust. Ego is the biggest problem facing the racing industry, more specifically, the egos of racing industry figures who refuse to let go of the 'good old days' and their self-indulgent empire of power.

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It's all gone Pete Tong at Betfair!

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