melbourne cup wagering , page-5

sorry that should be next to nothing,

"While the Tabcorp-operated TAB, which has a monopoly on pool betting in Victoria, is required by law to put nearly 5 cents in every dollar bet back into sport, corporate bookmakers return less than 1 cent in every dollar.

So if the trend for punters to bet interstate continues, the horse racing industry — worth $2.1 billion to the Victorian economy — will be severely compromised, according to senior racing figures."


Its actually a bit grubby, basing arguments under the guise of a losse terms like 'monopoly' 'free trade'.

Cheers