NATIONAL tote pool not far away
East Coast Racing
burntcaviar
103 posts
NATIONAL TOTE POOL COULD HAPPEN WITHIN TWO YEARS
Horse racing punters will be betting into a national tote pool "within two years" and quite possibly through the one TAB operator if predictions by Tatts Group's Head of Wagering, Barrie Fletton, come to fruition.
Dividends currently differ between TattsBet Queensland, South Australia, and Northern Territory (TattsBet), and New South Wales and Victoria (Supertab), and punters have long wished for co-mingling of the pools.
One pool would mean a less volatile market, encourage punters to bet into the bigger pools and alleviate the frustration of disparate dividends.
But previous efforts have been thwarted by the ACCC and different legislation across the states and territories.
Fletton feels those obstacles can now be overcome.
He has also given a strong indication that the group's wagering arm, TattsBet, would be sold if the price is right.
He stressed it would be a consideration for the Tatts Group Board and not his call, but a serious offer would "absolutely" be considered.
"Whether we're an acquirer or acquiree, I imagine the board will have a look at it and if the deal is right, it will be done," he said.
"I certainly wouldn't rule it out."
Fletton said the wagering landscape had changed markedly in recent times and because the TABs no longer have a monopoly on betting turnover, he sees no reason why the ACCC should object to a national tote pool.
"While I can't speak for the ACCC, I'm of the view there's a lot of competition out there now with corporate bookmakers and betting exchanges," he said.
"The eight different governments and regulators might also be a hurdle, but I would like to think (a national pool) it can happen within two years.
"It's more likely to happen if there's an acquisition of one company by the other. I don't know which way around that will be. It's quite likely Tabcorp could bid for us or it could be the other way. Who knows?"
While Tabcorp is the "'logical acquirer" of TattsBet, Fletton suggested there may be other major overseas operators that are also interested.
Fletton said punters had nothing to fear if a sale eventuated.
"If it went to Tabcorp, I suppose the Tattsbet name would disappear, but Tabcorp would acquire the licence TattsBet has," he said. "The only thing that would change is the name. It would be business as usual."
TattsBet were beaten for the latest Victorian wagering licence by Tabcorp, who will share profits with the racing industry on a 50-50 basis.
"It wasn't a setback at all (missing out on Victoria)," Fletton said. "It would have been a lovely thing to get, but I was never that hopeful of getting it against the incumbents.
"It just maintains the status quo. It's on the public record what Tabcorp have paid a 50-50 arrangement and it will leave them with less profit than they otherwise would have had."
Courtesy of NATHAN EXELBY of the COURIER MAIL, 09/08/2011
Horse racing punters will be betting into a national tote pool "within two years" and quite possibly through the one TAB operator if predictions by Tatts Group's Head of Wagering, Barrie Fletton, come to fruition.
Dividends currently differ between TattsBet Queensland, South Australia, and Northern Territory (TattsBet), and New South Wales and Victoria (Supertab), and punters have long wished for co-mingling of the pools.
One pool would mean a less volatile market, encourage punters to bet into the bigger pools and alleviate the frustration of disparate dividends.
But previous efforts have been thwarted by the ACCC and different legislation across the states and territories.
Fletton feels those obstacles can now be overcome.
He has also given a strong indication that the group's wagering arm, TattsBet, would be sold if the price is right.
He stressed it would be a consideration for the Tatts Group Board and not his call, but a serious offer would "absolutely" be considered.
"Whether we're an acquirer or acquiree, I imagine the board will have a look at it and if the deal is right, it will be done," he said.
"I certainly wouldn't rule it out."
Fletton said the wagering landscape had changed markedly in recent times and because the TABs no longer have a monopoly on betting turnover, he sees no reason why the ACCC should object to a national tote pool.
"While I can't speak for the ACCC, I'm of the view there's a lot of competition out there now with corporate bookmakers and betting exchanges," he said.
"The eight different governments and regulators might also be a hurdle, but I would like to think (a national pool) it can happen within two years.
"It's more likely to happen if there's an acquisition of one company by the other. I don't know which way around that will be. It's quite likely Tabcorp could bid for us or it could be the other way. Who knows?"
While Tabcorp is the "'logical acquirer" of TattsBet, Fletton suggested there may be other major overseas operators that are also interested.
Fletton said punters had nothing to fear if a sale eventuated.
"If it went to Tabcorp, I suppose the Tattsbet name would disappear, but Tabcorp would acquire the licence TattsBet has," he said. "The only thing that would change is the name. It would be business as usual."
TattsBet were beaten for the latest Victorian wagering licence by Tabcorp, who will share profits with the racing industry on a 50-50 basis.
"It wasn't a setback at all (missing out on Victoria)," Fletton said. "It would have been a lovely thing to get, but I was never that hopeful of getting it against the incumbents.
"It just maintains the status quo. It's on the public record what Tabcorp have paid a 50-50 arrangement and it will leave them with less profit than they otherwise would have had."
Courtesy of NATHAN EXELBY of the COURIER MAIL, 09/08/2011