Bookies bet on new laws

By Glen Atwell
LOCAL bookmaker Norman Oke believes the proposed changes to internet and telephone betting laws in Victoria will increase competition, but were ‘well-overdue’.
Sweeping reforms, detailed by deputy premier and minister for racing Rob Hulls on Tuesday, will allow Victorian bookmakers to conduct internet and telephone betting at any time from approved racecourse locations.
Mr Oke, an Endeavour Hills resident, is a regular ‘bookie’ at a number of local courses including Cranbourne, Pakenham and Sandown.
“These reforms will allow Victorian bookies to become competitive again with interstate corporate bookmakers,” he said.
“It ensures bookmakers, who stand next to their board and set their own odds on race days, will remain a big part of the racing industry.”
“That said, we still can’t hedge our bets on Betfair while interstate bookies can,” Mr Oke said.
Mr Hulls said cabinet had approved the preparation of amending legislation which would enhance the competitiveness of Victorian bookmakers in an increasingly competitive national market.
The proposed reforms will:
– Allow Victorian bookmakers to conduct internet and telephone betting at any time from approved racecourse locations;
– Transfer responsibility for the registration of bookmakers to the Victorian Commission for Gambling Regulation; and
– Permit corporations to be registered as bookmakers.
The changes to the regulatory structure reflect a number of recommendations made by the Bookmaking Reforms Working Party, which comprised key stakeholders in the racing and wagering industries.
Mr Hulls said the Brumby Government was committed to ensuring that bookmakers retained a solid presence on Victorian racetracks and continued to form part of the colour and excitement of the race day experience.
“While Victorian bookmakers have been granted permission to conduct internet and telephone betting at any time, it should be noted that bookmakers must continue to conduct these activities from approved racecourse locations,” Mr Hulls said.
“This restriction is important to ensure that the historical separation of on-course wagering and off-course totalisator wagering is maintained.”
Opposition racing spokesman Denis Napthine said the reforms were ‘too little, too late’ and was at a loss as to why the minister had not implemented two key recommendations “that bookies be allowed to hedge their bets and that bookies be provided with an opportunity to operate in a competitive taxation environment.”
“Bookmakers interstate are free to hedge their bets on Betfair, but Victorian bookies still won’t be allowed to,” he said.
“I can’t for the life of me understand why the minister would not make this modest reform. It’s very disappointing,” Dr Napthine said.
Mr Hulls said he accepted that allowing corporations to register as bookmakers was necessary for Victorian bookmakers to be competitive.
“This change represents a significant shift from the previous position that bookmakers must conduct their business as individual sole traders,” he said.
Mr Hulls also gave in-principle support for a Tabcorp proposal which would allow it to conduct fixed odds betting on all races, subject to the approval of the racing controlling bodies. This change will be progressed concurrently with the bookmaking reforms.
Mr Oke said the changes were a step in the right direction, but there was still some way to go. “These reforms are a start, and we’ve been waiting for three years to change the laws,” he said.