.....continued

In the near future (within 5 years) the overwhelming majority of TAB investment (and on-course Tote and bookies) will be facilitated through an established and fully bonafide account. The rank and file punter will still be accomodated on a petty cash basis under a prescribed threshold (say $50) otherwise the punter will be obliged to produce a plastic swipe card (plus PIN) to complete a wager.

Once in place the new face of a single National TAB will emerge. All Win/Place betting will be facilitated via the TABs very own Betting Exchange competing with at least one fully licensed and established exchange alternative (BetFair).

Commissions will be levied in a competitive enviroment as follows. For the stay at home internet/phone punter a standard 5% will be borne subject to a volume bonus.

TAB outlets will franchised. The franchisee will operate on a commission margin above a standard 2% (leaving 3% gross profit). To attract and compete for the punters business franchisees will offer reduced commission rates (say 4%) on exchange wagers (that the rank and files' volume would not normally qualify) in addition to comfortable and licensed premises.

......to be continued