TOTALIZATOR amendment BILL 2008
In reality, these two measures allowed the TAB to move individual product rates up and down within the constraints of the annual average limit of 16 per cent and a top rate for any one product of 25 per cent. The proposed changes will continue to protect TAB punters from any form of price gouging. The changes will leave the 25 per cent maximum take-out rate in place, and will replace the 16 per cent annual average cap with a defined cap for each betting pool currently offered by Tabcorp. Those caps will be set at the current rates being charged for each product, which are as follows: win, 14.5 per cent; place, 14.25 per cent; quinella, 14.75 per cent; exacta, 16.5 per cent; trifecta, 21 per cent; duet, 14.5 per cent; doubles, 17 per cent; first four, 22.5 per cent; quadrella, 20 per cent; and FootyTAB, 25 per cent. For clarity, this means that Tabcorp will not be able to raise rates for any existing product. Win betting will be locked in at 14.5 per cent, place betting at 14.25 per cent, trifecta betting at 21 per cent, and so on. These individual rates will be approved by the Minister and published in the TAB Totalizator Betting Rules. Similarly, any new product that Tabcorp wants to introduce will require a new rate to be set by Tabcorp and approved by the Minister, and must fall below the 25 per cent maximum cap.