Skip to main content

betting industry news roundup

Sportingbet Australia are banking on a change to betting in-running laws with this move to develop an IPTV betting platform. Racing provides the lion's share of their business but the big potential for growth is with sports betting. However due to a ludicrous piece of legislation, which is unlikely to be amended during the term of a minority government, you can only bet in-running on a sporting event via a voice call from within Australia.

The Queensland govt needs more tax revenue so the easiest way to do that is put more pokies in the casinos. Evil bloody things that should be outlawed but they never will. The politicians hide behind the fact that it's no more for the state, but the fact is these ones will see far higher footfall than hidden away in a suburban pub, equalling more tax revenue and more damage to the moral fabric of Qld society. At least WA continues to resist the urge.

The bidding for the UK Tote hots up with a consortium fronted by Martin Broughton lining up a bid, to add to the list of BetFred, Sportech and consortiums led by major racing owner Andy Stewart, and another by former Ladbrokes chief Chris Bell. One thing that confuses me about all of this - racing is putting their hand out for a huge chunk of the sale, yet does very little to promote the Tote. Simple changes to a few rules (deadlines for withdrawing horses, consistency in stewards' rulings, encouraging bigger fields, forcing to all jockeys to ride out to the line when prizemoney - i.e. for placings - is involved) would make tote punting far more attractive especially for single race exotics which are the bread & butter of totalisators around the world.

Speaking of totes, it's down to only Tabcorp and Tattersall's for the 2012 Victorian wagering licence renewal, which gives them the exclusive tote pool licence in the state and a monopoly on off-course betting shops. Ladbrokes and a few others were interested in it, but realistically, it was never going to go to a foreign company.

Comments

Popular posts from this blog

It's all gone Pete Tong at Betfair!

The Christmas Hurdle from Leopardstown, a good Grade 2 race during the holiday period. But now it will go into history as the race which brought Betfair down. Over £21m at odds of 29 available on Voler La Vedette in-running - that's a potential liability of over £500m. You might think that's a bit suspicious, something's fishy, especially with the horse starting at a Betfair SP of 2.96. Well, this wasn't a horse being stopped by a jockey either - the bloody horse won! Look at what was matched at 29. Split that in half and multiply by 28 for the actual liability for the layer(s). (Matched amounts always shown as double the backers' stake, never counts the layers' risk). There's no way a Betfair client would have £600m+ in their account. Maybe £20 or even £50m from the massive syndicates who regard(ed) Betfair as safer than any bank, but not £600m. So the error has to be something technical. However, rumour has it, a helpdesk reply (not gospel, natur

What shits me about match-fixing 'journalism'.

The anti-wagering media bandwagon has dozens of new members this week, all weighing in an industry they have absolutely no idea about. I'm all for getting the betting industry into the mainstream but it shits me no end when they roll out reports and celebrities who simply don't have a clue what they are talking about and don't bother to check basic facts which key arguments in their story. If this was the financial industry, making errors like this would have them in all sorts of trouble, but the same level of regulation doesn't apply because finance stock markets are supposedly all legitimate and serious, whereas sports betting is just a bit of fun for people who can never win in the long-term... according to the media. This week we have seen the sting by the Telegraph which, on the face of it, looks to be a tremendous piece of investigative work into fixing in English football. But the headlines around it are over-sensationalised yet again. Delroy Facey, a former pla

Racing has a Ponzi scheme - and the fallout will be enormous

When the term ' Ponzi scheme ' is mentioned these days, the names Bernard Madoff and Allen Stanford instantly spring to mind. The pair of them ran multi-billion dollar frauds (US$60bn and $8bn respectively) that destroyed the lives of thousands of investors who had put their life savings into a 'wonderful' investment strategy. How so many people were sucked into the scheme is baffling to those on the outside. The lifestyle, the sales pitch, the success stories of the early investors - I suppose it all adds up. So where does this link to racing you ask? A prominent Australian 'racing identity' this week has been reported to have lost access to a bank account with punters' club funds of $194m in it. Firstly - is there a worse term for anyone to be labelled with that 'racing identity'? It ALWAYS ends up meaning shonky crook! Secondly - who the hell has a punters' club with an active bankroll in the tens of millions? It simply can't be done. T