[AusRace] NSW racing vs. Corporate Bookies

[Todd Burmester]

The other interesting subject at the moment is the commencement of the court hearing between NSW racing and Corporate Bookmakers.  This is a situation I have not followed closely at all.  Essentially the way I understand it however is that NSW racing want corporate bookmakers to pay a % of turnover where as the corporates want to pay a percentage of winnings.

The concept of turnover tax is one that I have always found interesting - win, lose or draw, a bookmaker must incur a tax for offering a service.  To me, it seems little wonder, due to this, that bookmaking is a dying art.  Is there any other form of business where you must pay a tax on all turnover even if you make a loss?

To me, it certainly seems much fairer to pay any commissions or taxes based on winnings, not turnover.

It is interesting that NSW racing are mounting this challenge at the same time that it has been widely publicised that they are not in the best financial shape.

No doubt this one is going to take a while to sort itself out, and as I mentioned in opening, I have very little knowledge of this, however it may be an interesting discussion.

Todd B


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