Tabcorp in favor of offshore betting ban

Speaking about the issues, Tabcorp chairman Paula Dwyer said that about 14% of betting by Australians is with unlicensed operators and called for the country to follow the likes of France and the UK in taking steps to combat such companies.

Dwyer also highlighted industry and tax payments that should be invested in communities and social infrastructure are instead going to these operators.

“Tabcorp’s view that a similarly powerful response is needed in Australia and we are in active dialogue with the federal government on the issue,” Dwyer said.

“Because unlicensed offshore operators are not regulated to Australian standards, there are significant risks to consumers in terms of inadequate protection, as well as to the integrity of sport and racing.”

Tabcorp is also seeking the harmonization of licensing conditions across the states in which it operates.

The company is currently active in Victoria, New South Wales and Australian Capital Territory and is keen to eliminate the variability of payments to the racing industry and state governments.

Under Tabcorp’s current model, wagering revenue is shared between the operator, winning punters, the racing industry and government taxes.

However, a model operated by corporate bookmakers in the Northern Territory and Norfolk Island sees them mimic the odds of a tote and pay a stretched dividend, which is funded by lower contributions to the racing industry and governments.

“A harmonized approach is fundamental to the future of Australian racing and is in the interests of all Australian taxpayers,” Dwyer said.