Top executives from several Sports Books companies came together at the annual Country Racing Victoria conference which took place in Geelong. The topic of course was racing and Robert Nason the TABCORP wagering manager warned those in attendance that country racing administrators that they are facing a funding shortage.

Nason stated that the growth of corporate bookmakers is posing a threat to funding of racing. TABCORP returned 6c for every dollar in the racing industry while bookies in the corporate sector are returning 1c for every dollar.

Others had different opinions. Andrew Twaits of Betfair and Alan Eskander of Betstar argued the point that sports betting growth would mean that more bettors would turn to racing. Scott Whiteman of CRV commented that Australia gives away more prize money than England even though England’s turnover is more than Australia.

It will be interesting to see whose view will be right when it comes to sports betting. Will the racing administrations face a shortfall in funding or will other be right and the increase will help business?


- 2009-02-12