Racing Victoria ups the ante
A statement from Racing Victoria this morning seems to up the ante of fees generated from bookmakers, any higher and you would think it would make sense for them to buy a bookmaker rather than going through the hassle of collecting it from them.
Despite seeing $44m, an increase of 25%, in the amount they are getting for racing, it seems that’s not enough so they are upping the rates again. It seems a dangerous tactic, but as with these things, if they can get away with it once, they will go for it again. They have even indicated that they will levy their turnover tax on free bets, that’s pushing it a bit I think!
For the full statement, please following this link: –
https://www.racingvictoria.net.au/news/rvl/n_Turnover_model_to_be_retained.aspx
For exchange users this seems to the be most important paragraph: –
“That turnover for betting exchanges will be assessed on the aggregate of net customer winnings rather than the aggregate of all bets taken on the ‘backer’s side’ of the exchange as it is a more appropriate measure of the volume of customer transactions”
But quite what that means is completely open to interpretation? I guess we will have to wait and see.
Category: Australian, Horse Racing
