Industry can reflect on a stellar season, with more to come
Mon July 30, 2012 2:17am
Correct weight is just about to be called on another racing season and, yes, there was many a protest. The appeal in regard to racefields legislation went to the High Court and Racing NSW received a thumping endorsement of its case win.
It was the most crucial and much anticipated outcome of the season. At stake was the financial well-being of the sport.
And Racing NSW was in for the long haul, while states such as Victoria and Queensland baled out after choosing a gross-profit model. It led to Racing Victoria returning money to one bookie who had a losing month. How good was that?
Now it is gazetted in the highest court of the land. Wagering operators have to pay Racing NSW 1.5 per cent of turnover. You put on the show, and you deserve to demand a fee. You cannot fill up at the bowser and walk into the service station operator and say you're paying 50 cents a litre. The High Court said so.
Threats from corporates that the punter would be duped, they'd even go offshore, proved wrong. Competition in the marketplace surely comes into play. Punters looking for the best price can shop around.
Most betting houses are only too willing to pay their way to ensure racing has an income stream. Without one, industry players are vying for ribbons and cups.
Punters have been paying inflated prices for the TAB service since it was founded. But these betting goliaths remain the racing industry's largest financial contributors.