International Federation of Horseracing Authorities

News

Wednesday, November 05, 2008
Australian tote calls for government measures to assure funding of racing
Australian tote operator Tabcorp called for measures by govbernment to safeguard the funding of racing in the country. Today, the tote is the largest source of revenue for racing. With the increase in betting through bookmakers, who return much less to racing, the funding of racing becomes under great pressure, according to the tote. Tabcorp calls for: removal of current advertising restrictions wagering tax reduction prohibition on tote odds betting by bookmakers allowing the tote to offer fixed-odds on all races a country wide product fee regime, as opposed to the current state-by-state legislation a national ban on credit betting.