Tabcorp Head Pushes for Live Betting Regulation

Tuesday 20 March, 2012 16:25

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Australian gambling firm, Tabcorp, has highlighted the need for regulation of the live betting industry. In addition, Tabcorp Chief Executive, David Attenborough has called on the federal government to revise regulations in order to remove regulatory inconsistencies between the states.

"Our industry is riddled with these inconsistencies," said Attenborough, who believes that this will lead to interstate rivalry and a reduction in business productivity.

"Let's say you want to have a bet on who'll win the federal election. Well, if you're in Victoria, you can go to your local TAB and we'll take your bet. If you're in NSW; however, you'll be knocked back because election betting is not permitted. But, of course, a NSW resident can simply pullout their iPhone and place the bet they want through a Victorian TAB account or with a Northern Territory-based bookmaker."

Attenborough said that if Australia were a company, he was sure that the management would move to get rid of these rivalries and promote synergies.

The CEO called on the Australian government to standardize regulations so that betting companies could have a fair competition base.

Inconsistent Regulation Negatively Affecting Tabcorp

Attenborough also discussed the federal government's focus on broadcasting odds during live events and live betting online. Currently, bettors are able to place wagers on live events over the phone, but not online.

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"Despite this prohibition, a number of wagering operators have offered live online betting to their Australian customers," commented Attenborough.

Attenborough said that he was not aware of any betting operators being prosecuted for offering online betting and claimed that Tabcorp, which follows the law and does not allow such a practice, was being disadvantaged.

Tabcorp's head also discussed the excitement of sports betting and claimed that people would not be stopped from placing bets on sports, particularly today. "Sport is much more exciting when you bet on it," he commented.

"Customers just want to transact, through technology, as easily as possible. And you can deliver information easily." He cited the improving technology of mobile phones and the increasing incidence of mobile gambling as proof of this trend.

Tabcorp's Long Term Goals for Asia

Attenborough discussed the long-term goal of Tabcorp to break into the Asian market; however, he claimed they are complex due to religious and regulatory issues.

He said that India was an attractive market, but one that is hard to enter. He admitted that in a case like penetration into the Indian market, he preferred his company to be a follower and not a leader.

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