Issued: 31 July 2015 [PDF, 186kb]
Wagering operators will pay more for race field information after the NSW Government increased the amount racing industry control bodies can charge Deputy Premier and Minister for Racing Troy Grant announced today.
This change will inject millions of dollars into the racing industry, bringing NSW into line with Victoria and Queensland.
Race field fees are capped by regulation. The actual rates are decided by racing control bodies on a commercial basis. This allows wagering operators to access race information like race fields and results.
The changes are:
Old provision – Up to 2 per cent fee on turnover on premium race meetings and 1.5 per cent on all other race meetings.
New provision – Up to 4 per cent fee on turnover from totalizator derived* odds and up to 2.5 per cent on all other odds.
These are the maximum rates that can be imposed under the regulation and Racing NSW will be announcing its new schedule of rates today.
Deputy Premier and Minister for Racing Troy Grant said his focus is on ensuring the long-term sustainability of the racing industry.
"The industry contributes $3.3 billion per year to the NSW economy and employs almost 56,000 people," Mr Grant said.
"I want NSW to take on the Victorians and make us the premier racing state."
Racing NSW Chief Executive Peter V'landys welcomed the announcement saying the revenue from race fields is a critical source of funding for the New South racing industry.
"The NSW Government should be congratulated on recognising the need for flexibility in setting race field fees," Mr V'landys.
"This change provides room within the regulation for Racing NSW to make effective commercial decisions, including the need to keep pace with other States who may have higher fees than NSW and for any increases to be able to be absorbed by wagering operators."
*Totalizator derived odds means odds derived from or contingent on totalizators operated by the variousTABs. Other wagering operators using these odds (rather than generating their own odds) will attract the higher fee.