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 Bookmakers have accused the TAB (Australian ToTe) of
trying to "exterminate" them with a new betting system which offers punters the
best of both worlds. The state-wide betting giant has taken out a patent on a combined totalisator and fixed-odds betting system and says racing would be much better off it was the only betting medium The TAB's hundreds of outlets already offer a limited fix-odds service on feature races but it could soon be playing the bookie on any race it chooses. With totalisator betting, the TAB takes a percentage of every bet before declaring a dividend, so it can't lose. But with fixed-odds betting, or bookmaking, punters take the odds on offer when they place the bet, meaning there is an element of risk associated. Bookmakers say this initiative is the latest example of the uneven playing field in Australia. Recently retired bookmaker Larry Hawke said 95 per cent of business was now conducted off-course. "There is no cash at the track and no-one [punters] standing in front of the bookmakers," he said. "But if anyone, off-course, wants to bet with a bookmaker, they have to spend a minimum of $200 per bet on the telephone in NSW. Go to the TAB and all you have to spend is $1." Sydney's Con Kafataris, Australia's biggest bookmaker, said the TAB "has realised they can sell any product they wish because of their exclusive distribution network available off-course". "What the TAB is trying to do is exterminate bookmakers. It's a well-known fact that fixed-odds betting fuels tote betting. The TAB want it all to themselves." |
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