TAB cool on exchange

* by: Matt Stewart
* From: Herald Sun
* July 20, 2011 12:00AM

TABCORP is unlikely to establish its own betting exchange, despite securing Victoria's new 12-year wagering and betting licence.

Although a provision allows it, Tabcorp chief executive David Attenborough talked down speculation the TAB would venture into the controversial betting exchange market.

"We have always had concerns about the integrity of betting exchanges and we are yet to see a betting exchange operate successfully in Victoria," Attenborough said.

Napthine said the provision for a betting exchange was an exciting opportunity for Tabcorp to diversify and generate greater income but conceded the decision on an exchange rested with the wagering giant.

Victoria Racing Club chief executive Dale Monteith echoed most in the racing industry in welcoming the state government's nod to Tabcorp.

"I was present at the birth of Tabcorp in 1994, so in that sense it's great to see the relationship continue," Monteith said.

"We have been assured that Victorian racing will be no worse off, and for racing's confidence going forward that is a good thing."