As a skew to the argument....

Most punters are looking at the argument between the TAB, Betfair and Anti-Gambling organisations.

In truth it is the State Government, Anti-Gambling organisations, TABS versus Betfair.

Were it just the TABS versus Betfair, then there would be a full and open enquiry.

The State Government, however, receive huge slices of punters money via tax and that is the reason that offshore betting was made illegal by the NSW Government.
Make no mistake, the States will never give the greenlight to Betfair until some form of revenue collection is agreed to by both parties.

Taken from the Tabcorp half yearly report...

During the half year TABCORP businesses paid out a total of
387.1 million in taxes on gambling. In addition, the Victorian racing
industry received $132.7 million from TABCORP businesses, assisting
the industry to maintain a market leading position in the provision of
racing products.

387.1 million for TabCorp alone (including gaming machines and Star City) but the the State Government will certainly oppose anything that's going to affect revenue to a large extent.

The punters continue to cop it, but have to find value elsewhere by any means available!