Betfair loses race fields legislation case

[hhh]

3% of turnover for GP1's for Victoria. They are still running a blended model for greater amounts of turnover% vs revenue generated from what I understand.

Queensland racing & NSW are expected to up their race field fees too...

http://www.smh.com.au/sport/horseracing ... zrehd.html

Am sure Betfair will notify us of new tax arrangements

[hhh]

Vlandy's interview on Big Sports Breakfast, bit of scaremongering on the Championships carnival next year being on the ropes.

http://media1.sky.apac.kitd.com/POD/1/61RBJS.mp3

Also a glimmer of hope for Aus traders - race field fees for NSW are at maximum. NSW Government needs to come to the party and review takeout on NSW racing (more inline with other states)

[Rusty Saint]

In my opinion its pretty simple, they can't tax people on the money they win gambling because essentially if they did you could claim your losses as a tax deduction. However, introduce a turnover tax and then we are paying tax on everything we win and everything we lose!!