Tabcorp is the only company in the Australian state of Victoria that has a license to offer parimutuel and fixed-odds betting. The Andrews government is being urged by other gaming operators to change that dynamic and open the state to other license holders.
The Tattis Group, which owns Tabcorp, currently has monopolies in just about every Australian state, except Western Australia.
Paddy Power Betfair, the London-based parent company of Australia’s Sportsbet is urging the state to allow the kind of competition that allows more consumer choice, innovation and “a better overall experience for wagering customers.”
Such competition is allowed in the UK and Ireland, where Betfair is based. Sportsbet told the Sydney Morning Herald, “It is logical that the same benefits could be enjoyed by retail wagering customers if there was a liberalization in the retail license structure.”
The 12-year Victoria license will be up for renewal in 2024. Paddy Power Betfair is considered a very likely bidder for the license.
Currently, Tabcorp helps support the state’s horseracing industry by providing a share of gaming revenue to the thoroughbred, greyhound and harness racing. Sportsbet urges “de-coupling” the gaming license from the funding of the horseracing industry.
Critics of gaming immediately criticized the idea of allowing more retail operations to open.
Tim Costello, of the Alliance for Gambling Reform told the Herald, “It would be a bad move to allow the likes of Sportsbet to set up retail outlets. Any attempts by Sportsbet to expand its Australian gambling footprint should be vigorously resisted.”
Costello would prefer to see some of the network of small outlets shut down to “reduce the excessive gambling opportunities.”
The government in Western Australia is moving forward to privatizing the state owned agency that runs betting.
