Victorian online bookies commit to continue sponsoring racing events

Racing Victoria’s chief executive, Giles Thompson, told local press reporters in Victoria this week that a number of the internet bookmaking companies needed “given undertakings” to the nation’s three racing codes they would maintain their service of the industry, as long as the point of ingestion Victorian tax rate remains at 8 percent.

The Sydney Morning Herald noted a wave of new state-based gambling taxes has been a cause of nervousness within the Australian racing and wagering sector following warnings from industry leaders and gambling analysts that a lot of Australia’s online-only corporate bookmakers wouldn’t be sufficiently lucrative to absorb a massive hit to their margins and may be made to slash marketing and sponsorship spends.

“The major wagering providers have committed to continue their critical support, and investment in, Victoria’s racing industry,” Thompson said. “Including promotion and support of 3 codes as crucial wagering products on the wagering service providers’ owned platforms, as well as industry media resources such as Racing.com and club sponsorship arrangements. ”