Australia’s leading online wagering operator, Sportsbet, is addressing growing misconceptions about the contribution of corporate bookmakers to the racing industry.
The Executive Chairman of Sportsbet, Matthew Tripp, says any suggestions that Sportsbet – as well as other major Australian-based online wagering operators – do not put money back into racing are incorrect.
“Sportsbet has recognised for a long time the need for the company to make sizeable financial contributions to the racing and sporting events that we offer betting services on,” Mr Tripp said.
“In the past five years, Sportsbet has paid more than $50 million to the racing industry and sporting bodies in Australia.
“We currently have agreements in place with the racing industry in Queensland, Victoria, Tasmania and South Australia to provide significant funding back to the industry which assists with helping to fund prizemoney, infrastructure and marketing of racing, and have similar agreements in place with numerous sporting bodies such as the AFL and NRL.
“Our offer of a similar arrangement with Racing NSW is still on the table.
“Sportsbet is disappointed that claims are continuing to be made that we do not put money back into racing – and that we are not paying a fair share.”
Mr Tripp said it is important that regular punters are not overlooked in this debate.
“Sportsbet is happy to pay fair and equitable fees to the racing industry,” Mr Tripp said.
“For payment of product fees, there must be a level playing field for all wagering businesses and we, as a company, are unrelenting in our push for this.
“Without a level playing field, competition between wagering operators will be stifled, leading to reduced customer choice and diminished returns to the industry.
“It should also be remembered that there are hundreds of unregulated overseas websites that do not return a single cent to Australian racing.”