Minister Stands Up For Future Of Victoria Racing

Minister Stands Up For Future Of Victoria Racing

Victoria Minister for Racing Denis Napthine

Baillieu Government Seeks National Approach On Race Wagering And Betting

Victor P Taffa

Victorian Minister for Racing Dr. Denis Napthine will be delivering on a key Racing Industry commitment by taking recommendations on race wagering and betting to a meeting of all State and Territory Racing Ministers to be held on February 25th in Canberra.

“In its Plan for Racing, the Baillieu Government committed to advocating for a National agreement to ensure a fair and equitable level of funding was provided to the Racing Industry by betting and wagering operators.” Dr. Napthine said.

“National agreement is needed to ensure all participants in wagering, including totalisators, corporate bookmakers and betting exchanges, pay a fair and reasonable contribution to continue the growth and development of racing across Australia.”

“With the massive growth of Darwin-based corporate bookmakers and interstate-based betting exchanges, action is needed on a national agreement to return a fair dividend to Australian racing from these betting operations.” Dr. Napthine said.

“The real threats to Victorian Racing in particular are the corporate bookmakers and interstate-based betting exchanges that have the advantages of lower tax rates because they are based in Darwin or other jurisdictions.”

“Many of these corporate bookmakers and interstate-based betting exchanges pay little or nothing to help fund the Racing Industry in which they operate.” Dr. Napthine said.

“The biggest losers from the shift of betting to interstate operators are the Victorian Racing industries and the State Treasury.”

“If we do not get a National Agreement we are likely to have a much diminished Racing Industry in the future.” Dr. Napthine said.

Dr. Napthine has submitted a discussion paper to the COAG meeting which calls on federal legislation to be introduced to:

(i) Make it illegal for a telecommunication service provider to facilitate the transactions of a bet with a wagering service provider unless that wagering service provider is authorised by the relevant racing controlling body;

(ii) Prevent financial institutions from processing betting transactions with a wagering service provider unless they are so authorised.

“I will be strongly recommending to my Ministerial colleagues from around Australia that they support these moves.”

“It’s time to put an end to the free ride for corporate bookmakers and betting exchanges.” Dr. Napthine said