Seabiscuit
25-05-2004, 19:09
From www.aapracingandsports.com.au
Phone Bet Minimum Abolished In NSW
Story By Racing Editor Chris Scholtz
Tuesday, 25 May 2004: NSW bookmakers have won another breakthrough with the abolition of the $50 minimum telephone bet regulation on metropolitan races.
The NSW Department of Gaming and Racing has advised NSW bookmakers that the $50 minimum that has applied to telephone bets on metropolitan races will be abolished from July 1.
The removal of the $50 minimum places on-course bookmakers at city meetings on a par with their country and interstate counterparts and ironically gives them a small edge over the TAB.
Bookmakers may now accept a minimum phone bet of just $1 but TAB account punters must outlay at least $10 in a single telephone bet.
The removal of the $50 minimum will make on-course bookmakers more accessible to the general public and should boost their business as figures show better odds are bet at the track in a majority of races compared to TAB odds.
However Sydney bookmakers are not happy about the impact NSW TAB Fixed Odds betting on Group races is having on their business and are calling on the NSW Government to review the regulations governing the mode of operation.
The NSW Bookmakers Co-Operative claims TAB Fixed Odds should not be allowed to offer a market from entry or acceptance time up to the start of sanctioned races.
The bookmakers claim this gives the TAB an unfair advantage over their business as they are not permitted to begin their betting until they arrive at the course and are prevented from offering the option of totalisator odds to their clients.
The bookmakers claim the TAB wants it both ways by monopolising the off-course business while also being allowed to operate like an on-course bookmaker on Group races.
The bookmakers claim the NSW TAB balances its Fixed Odds "book" by betting back into its own win pools or laying off with a variety of bookmakers in the last 30 minutes of betting.
The bookmakers are upset that the TAB does not have to declare these transactions as they do.
Many bookmakers were angered when NSW TAB Fixed Odds was allowed to display feature race markets on betting boards at the track on certain days of the recent autumn carnival.
The NSW Bookmakers Co-Operative is understood to be retaining the services of a high profile public relations firm to present their case to the Government.
NSW bookmakers are also protesting against a new licence condition that declares the odds they offer on track are the "intellectual property" of Racing NSW and the race club conducting the meeting.
The bookmakers are adamant that they "own" their prices with many registering their initial protest by crossing out the condition on their licence renewals.
Phone Bet Minimum Abolished In NSW
Story By Racing Editor Chris Scholtz
Tuesday, 25 May 2004: NSW bookmakers have won another breakthrough with the abolition of the $50 minimum telephone bet regulation on metropolitan races.
The NSW Department of Gaming and Racing has advised NSW bookmakers that the $50 minimum that has applied to telephone bets on metropolitan races will be abolished from July 1.
The removal of the $50 minimum places on-course bookmakers at city meetings on a par with their country and interstate counterparts and ironically gives them a small edge over the TAB.
Bookmakers may now accept a minimum phone bet of just $1 but TAB account punters must outlay at least $10 in a single telephone bet.
The removal of the $50 minimum will make on-course bookmakers more accessible to the general public and should boost their business as figures show better odds are bet at the track in a majority of races compared to TAB odds.
However Sydney bookmakers are not happy about the impact NSW TAB Fixed Odds betting on Group races is having on their business and are calling on the NSW Government to review the regulations governing the mode of operation.
The NSW Bookmakers Co-Operative claims TAB Fixed Odds should not be allowed to offer a market from entry or acceptance time up to the start of sanctioned races.
The bookmakers claim this gives the TAB an unfair advantage over their business as they are not permitted to begin their betting until they arrive at the course and are prevented from offering the option of totalisator odds to their clients.
The bookmakers claim the TAB wants it both ways by monopolising the off-course business while also being allowed to operate like an on-course bookmaker on Group races.
The bookmakers claim the NSW TAB balances its Fixed Odds "book" by betting back into its own win pools or laying off with a variety of bookmakers in the last 30 minutes of betting.
The bookmakers are upset that the TAB does not have to declare these transactions as they do.
Many bookmakers were angered when NSW TAB Fixed Odds was allowed to display feature race markets on betting boards at the track on certain days of the recent autumn carnival.
The NSW Bookmakers Co-Operative is understood to be retaining the services of a high profile public relations firm to present their case to the Government.
NSW bookmakers are also protesting against a new licence condition that declares the odds they offer on track are the "intellectual property" of Racing NSW and the race club conducting the meeting.
The bookmakers are adamant that they "own" their prices with many registering their initial protest by crossing out the condition on their licence renewals.