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14/11/2003 edition

Will Punters Be Rewarded?

"Victorian racing, and its punters, will soon be rewarded after years of allowing millions of dollars to leak interstate and overseas." (our bold type.)

That was the opening paragraph of an article by Rod Nicholson in the Sunday Herald Sun, November 9, 2003 titled "Victoria wins in betting revamp".

We read the article numerous times, but didn't see any rewards for punters.

To commence with we disagree with the concept that money bet on races held in Victoria that is not wagered with Victorian based bookmakers or SuperTab has leaked interstate or overseas.

Rod Nicholson went on to add that:

The authorities want to bring into line bookmakers, the TAB, interstate bookmakers and "the latest invader, betting exchanges." A huge amount of money leaves Victoria by phone or the internet to overseas or interstate betting concerns who are not contributing to the Victorian Racing Industry. That is about to change.

To describe betting exchanges as "the latest invader" is not objective, unbiased language. It is emotive language. But at least betting exchanges have rewarded bettors who have been getting vastly improved odds and not having to put up with an exorbitant 15% or 20% of turnover being removed from the pool.

If any change restricts the betting options available to punters or results in worse odds being available to punters, how is that a "reward" for punters?

Talk these days about money bet on Victorian racing leaking interstate or overseas seems antiquated, even rather quaint. Victoria is not an insular state. The rest of the world does exist. We're now dealing with a world wide betting market. That's the reality of the 21st. century. Bettors want and expect to be able to find the best odds for their bets, whether it's horse racing, tennis, soccer, AFL football or tiddlywinks. That's the reason why they also bet interstate or overseas.

Should interstate or overseas betting agencies pay Racing Victoria a percentage of turnover for betting on racing held in Victoria?

For starters competition needs to be accepted. The Victorian Government should ensure the conditions are in place for Victorians to obtain competitive odds by betting on Victorian racing in Victoria. That of course means allowing Victorian bookmakers to accept bets over the internet. And without having to pay massive amounts of turnover in taxes and subsidies.
Continued next page

This edition of Punt to Win:
Will punters be rewarded?
Horseracing betting tips and gambling strategy
Betting favourites in small fields
Money talks - Randwick betting tips from the track
Money talks - Flemington betting tips from the track
Handicapping tips - weight and class
Future winners - unlucky horses
Punt to Win 7/11/2003
Punt to Win index


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