Cash drain still stings for racing

By Max Presnell
Updated November 8 2012 - 11:39pm, first published April 5 2009 - 2:05pm

THE major downside to Golden Slipper day, according to the Sydney Turf Club chairman Billy Picken, was the revenue drain away from NSW racing, highlighted by the the big turnover of Tom Waterhouse fielding at Caulfield. Waterhouse moved to Victoria because it is more bookmaker friendly, unless you are Simon Beasley, disqualified for five years and fined $20,000 last week on charges relating to recording bets. "Betting taxes should be on a federal level," Picken maintained. Which again prompts the question of who should be paying what? "Can we have another article on how corporates are cannibalising the betting dollar please … oh, all the corporates except Luxbet of course … who wouldn't be joining in the feast if nobody else was," came a bleating email from Peter Lawrence regarding Luxbet, the Tabcorp corporate group, going into exotics as well as win and place bets paying tote plus 5 per cent. "The most unbelievable thing about the whole Luxbet phenomenon is that Tabcorp were able to set up this enterprise in complete silence from NSW journos …"

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