.....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

Agree with the Dr.

There will be 1 TAB,& for win/place betting it will have to operate as an exchange or lose out completely.

The exotics (quinella's, trifecta's etc) will remain the same, but they will also offer more, larger dividend incentives, such as pick 6 or 8 winners. TAB's will have less people attending, as more & more go online to bet.

Big changes are ahead & at last it's the punter who will benefit as the TAB's will need to push for smaller margins on higher turnover.

.....continued


Unmanned dedicated betting terminals/portals/phones will be provided in number throughout TAB outlets and on-course. Using the swipe card (voice, iris and thumb print technology will soon render plactic redundant) the placement of wagers (bid + offer) on the exchanges will be as simple as using the internet. The punter will be able to check on the status of his wager at will.

Commissions levied on the on-course punter will be say a flat 2% (the lowest level). All of a sudden punters will be incentivised to return to the race course via their wallet. Instead of Race Clubs putting on Rock concerts after the last to get punters to attend the races a new concept will dawn - give punters what they want!!

I see the transformation of the current TAB pari-mutuel model (Win+Place) as a vitally urgent priority. Blind Freddy knows the pari-mutuel can not compete with a Betting Exchange. In order to prosper and grow the National TAB must offer a competitive and marketable product GLOBALLY - a heavily taxed and valueless pari-mutuel is not such a product.

Racing in Australia needs a vision and eye for the emerging technologically dominated future. Seeking to eliminate competition (Betting Exchanges) by prohibition tells me the present TAB/Racing Clubs do not possess such a vision.

My rant is over. My map for the betting future is short on finer details which I'm happy to discuss further.

mr ed - you maybe right, everything I've said could be ****. So why don't you offer me (and others) the courtesy of articulating the reasons why you hold such a view? It will cost you nothing but time.

Gee I don't know what's going on, I agree with the Dr's rant!

Exchanges will only ever appeal to a small sector of the market... that might grow, but the added exposure will bring more smaller punters into the TABs anyway.

TABs, bookies and exchanges all have their place in the modern race wagering environment - it's up to each type to establish their niche.

TABs have the casual punter, the offcourse market, cash convenience, exotics etc

Bookies offer credit, features like top fluc, you know you are set at the time, etc.

Exchanges will cater for the value-seeking punter, and the guy looking for other options - being able to oppose a horse out of its depth etc.

Reported in this mornings THE AUSTRALIAN newspaper by Daniel Hoare.

"The nation's gaming giants are expected to lose their fight to prevent off-shore internet gambling, with the Howard Government tipped to allow international competitors.

The decision could revolutionise the industry by allowing offshore betting exchanges to become licensed in Australia."

"In a clear demonstration it is preparing for increased competition, the NSW TAB has registered its own betting exchange trademarks."

"Graham Cassidy, a spokesman for the TAB, conceded that the company would introduce its own betting exchange."

""........if it becomes an issue of the federal Government not banning them and they become part of the infrastructure of wagering in this country, then we'll be reluctantly joining the queue.""(Cassidy - TAB)

"The British company (BetFair) said it would pay the same percentage of revenues as the TABs which is believed to be between 20 and 40 per cent."

Is bookmaking a good profession?

If so, why? If no, why not?

It looks good to me, more people lose money on races than win. How could there be no profit in bookmaking?

Would any of

Because it is very hard to balance a book. Most bookies win by 'betting ' these days. either by taking on a favourite or literally backing one themselves. Punters also have more info and there are more ways to bet e.g corporate bookies, off shore agencies, tabs, betfair etc.

So what you're saying is the punters win more than bookies these days?

I don't find that too hard to believe, considering some punters only bet on "sure things" and bet big (like $20,000) which leaves the bookies no chance. But in horses I'm sure the bookies win more.