Sport is made for betting

Here's a heart-warming story from Australian racing - a bunch of pompous prats who want to see the continual decline of racing into a sport of a bygone era have formed an 'alliance' to keep racing in an era where punters wore flares and wide-collared shirts, or worse, safari suits (which until recently, was a requirement during summer at some metropolitan racing clubs). Alliance Lobbies Commission for a Better Deal Wednesday, 23 December 2009: A newly formed body of prominent racing industry participants is calling on the Federal Productivity Commission to support the campaign for racing to receive a better deal from wagering operators. The newly formed National Horse Racing Alliance, representing a large number of owners, trainers, breeders, agents and organisations, has made detailed submissions to the Productivity Commission inquiry into gambling in a bid to secure better returns to the racing industry from corporate bookmakers, parimutual operators and betting exchanges...

This case has been running all week and will continue for a few days yet. Numerous articles about it in the Aus press with Racing NSW gaining some ground (they couldn't really lose much more) and legalese choking proceedings to a very slow grind. One quote from tomorrow's article in the Sydney Morning Herald I wanted to highlight though: Racing NSW argues that the fee should be calculated by turnover because turnover is easier to assess and ''less susceptible to avoidance or manipulation'' than gross revenue. It also argues that turnover is not influenced by the particular business model or business decisions made by the company. Turnover is also preferable to gross revenue because it cannot be manipulated by inducements, rebates or benefits given to valuable customers, Racing NSW argues. Rubbish, there is not one system in the world which is manipulation-proof. On-course bookmakers in Aus have been caught over the years taking bets on a second set of books - s...

This might seem second nature in the UK but it's a new development in Australia. On-course bookies had to be just that, and while recent law changes had allowed local bookmakers to form companies and trade 24/7, that was only if they were on track within that state. Now Victoria has allowed Centrebet, Sportsbet, and the big one, TABCorp trading as TAB Sportsbet, to work on the rails. Bit controversial they have been allowed to queue jump and not be subject to the normal procedures of Victorian bookies during spring carnival time, but it's hardly surprising. TABCorp goes on the rails TABCORP will join the Flemington rails as an on-course bookie for the first time on Derby Day. Tabcorp has won approval from the Victorian Commission for Gambling Regulation to short-circuit Victoria Bookmakers' Association rules to gain a rails berth. Derby Day, this Saturday at Flemington, is the best day of domestic racing anywhere in the world. Quality from start to finish, and over 100,000 ...

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 21s...

Australian corporate bookmakers have been screaming for years how they would be prepared to pay for the right to bet on racing, but expected a fair go in terms of advertising in the respective states. Now it's happened, Victoria is the first one off the rank to introduce a product fee based on Gross Product rather than turnover. Racingandsports article The fools in NSW will try to implement their anti-competitive legislation and waste even more money getting beaten in court, meanwhile Victoria is getting on with it and dealing with the new dawn.