TABCORP chief executive Elmer Funke-Kupper has called for Federal Government intervention to take control of Australia's wagering markets.
Funke-Kupper also hinted that before Tabcorp committed to bidding for the next exclusive parimutuel licence from 2012, the wagering structure in Australia would have to change.
He said that Tabcorp's preference would be a structure with clearly enforceable licence conditions.
Speaking at yesterday's Tabcorp annual general meeting, Funke-Kupper said if states could not control their wagering markets, "then we may need to find a solution at the federal level".
"Perhaps the Federal Government should assume responsibility for the regulation of the wagering markets if the states are not able to implement effective regulations that apply across state borders," Funke-Kupper said.
"We will study the licence conditions carefully when they are made public."
Funke-Kupper's main complaint was with Northern Territory corporate bookmakers offering tote odds.
He said that deregulation should create a level playing field, but it should have two non-negotiable conditions.
The first was the prohibition of tote odds by bookmakers. He said that was critical to the funding of the racing industry.
"Unfortunately, to date there has been no move to prohibit tote odds betting. There is no doubt that continued inaction will hurt the industry in the years to come," Funke-Kupper said.
"The second condition is the charging of adequate product fees to all wagering operators.
"New South Wales has recently introduced a new product fee regime that we believe is a step in the right direction."
(Credit: Herald Sun)
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