Australian racing punters could see changes to their horse racing betting after Tabcorp Holdings revealed that it was planning to shake up the tote pool market.
As part of its ongoing corporate transformation programme, Tabcorp Holdings leadership has announced that it will be bringing forward what it describes as a ‘single tote pool’ product for the Australian horse racing betting market.
The news was broken by the Sydney Morning Herald on Tuesday. According to reports, Tabcorp plans to bring all three of its tote systems into one tote pool during 2020. They hope that this move will help to share liquidity for punters in different states.
The plans are slated as one of Tabcorps most significant aims for 2020 and would see it merge its existing tote systems in Victorian and New South Wales with another property, the Tatts UniTAB totalizer which offers tote services to the remaining Australian racing markets.
Reports indicate Tabcorp is engaged in talks with the leadership of each of the country’s racing bodies to persuade them of the merits of a combined tote pool, which the firm believes will provide a boost to the tote model of betting.
Key to the plan will be the approval of the racing governance of Victoria and New South Wales, although at this stage, it is not clear whether they are willing to reorganise their existing tote system. The two states represent the two largest horse racing wagering markets in the country and their support will be critical for Tabcorp if they are to succeed with their plans.
A statement for Victoria racing expressed cautious support for the idea, but fell short of fully endorsing the Tabcorp plan:
“We would be supportive of a national tote pool if it is clearly in the best interests of Victorian racing. This would need to take into account the commercial outcomes for Victorian racing, as well as the implications for customers.”