Tatts and Tabcorp get a win
The gaming giants appear to have won a temporary reprieve from competitors offering online in-play betting. Back in the days before the internet and smart phones, punters had to venture down to their local TAB or racetrack to place a bet. Between them, Tatts (ASX: TTS) and Tabcorp (ASX: TAH) own all the state and territory TABs except the Western Australian TAB (which is now also being privatised) and have benefitted greatly from their monopolies. In turn, State governments have done very well from the taxes Tatts and Tabcorp pay whilst the racing industry also benefits from receiving a percentage of monies bet on the races it organises. Like many industries around the world, however, Australia’s gambling industry is now being disrupted by technology and punters can now place bets via their smart phones from the comfort of their living rooms. To the potential detriment of the racing industry, Australians are also betting more on a whole host of local and international sports. Read full article here: (VIEW LINK)
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