We top the nation in betting stakes

Territorians love taking a gamble but bookies can’t lose when it comes to setting up shop in the Top End with an annual betting turnover of more than $4 billion. The Australian Racing Board released figures for thoroughbred wagering in their annual fact book.

The Territory is now Australian racing’s busiest wagering jurisdiction, with more than a quarter – 26.9 per cent – of all thoroughbred bets being made through NT bookmakers. Of the $4.049 billion gambled - $3.9 billion of that was from bookmakers, such as SportingBet and Sportsbet. The remaining $124 million was wagered from the TAB. SportingBet chief executive Michael Sullivan said the Territory has a big turnover because it houses the big betting operators, like his own SportingBet.

“We are here because of the goodwill of the NT Government,” he said. “At every commercial hurdle, the Government has consulted us and been very forward thinking.” Mr. Sullivan said the main hurdle the industry faced was taxation. “The Government has been very practical with the whole thing – that’s why we’re here.”

Australian Racing Board chief executive Michael Harding said money was heading to the Top End because it was unsustainable to have that much of the market having no proper economic relationship with the industry. “It was a one-way street and that was just unsustainable.” He said. “That was the importance of race fields and that’s why the ARB promoted the concept of race fields to racing ministers five years ago.”

Betting on thoroughbreds topped $15 billion for the first time in 2009-10. NSW had the second biggest turnover of $3.85billion, while Victoria took bronze with a turnover of $3.12 billion.

Story courtesy of Meagan Dillon, NT News