A new deal has granted Tabcorp the sole rights to operate in Victoria. The 12-year wagering license that Tabcorp has obtained will allow the company to offer pari-mutuel and fixed odds wagering in the area. Additionally, Tabcorp will be the only company allowed to operate an off-course retail shop. The company will also provide simulated racing events for punters in the area.

A license of this breadth does not come cheap. Under the terms of the agreement, Tabcorp must pay over $400 million to the state’s government up front. This acts as a sort of licensing fee, in order to secure the deal. Under the new agreement, changes will also be made to the funding scheme. Currently, a portion of the company’s profits is used to fund racing in the area.

That provision will be changed in the new deal, as critics noted that racing only contributes a small portion of business to Australia’s betting industry. Taxes will also be reduced, in order to foster the growth of gaming in Australia. Pari-mutuel betting will be decreased from over 28% rto 16.69% while fixed odds betting drops from 20% to 13.47%.

About the Author

George Anderson
Author George, has over 25+ years’ experience in the Pokies and Casinos industry throughout Australia and New Zealand. Loves to research new Pokies games on the block and follows announcements from top industry providers about their upcoming releases. As soon as a new interesting pokie game appears on his radar, George is there to check it out and give you the scoop before anyone else and tell you about all casino sites where can play the latest game. Before this gig, George worked as Pokie game tester, making him an ideal candidate for this genre of work. He is also an animal lover and a proud owner of three dogs.