By Annette Shailer
Victoria’s wagering licence is set to be awarded later this year, with three candidates shortlisted for the right to run betting on sports and horse racing in Victoria.
State Gaming Minister, Tony Robinson, announced last Thursday (Jul 29) that Tabcorp, Tatts Group and Ladbrokes had been invited to apply for the multi-billion dollar wagering licence.
Robinson said the successful applicants had been shortlisted from a strong field of local and international wagering operators.
“Victoria’s wagering and sports betting industry is worth more than $4 billion a year and attracted interest from some of the biggest and most established wagering ventures in the world,” he said.
“The level of interest shown is a testament to the strength and prestige of Victoria’s racing industry.”
Robinson said the 12-year wagering and betting licence will provide:
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The right to offer both parimutuel and fixed odds betting on racing, sports and other events, including the only authority to conduct wagering and betting via an off-course retail network;
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The right to establish and operate the only betting exchange based in Victoria; and
- The right to offer approved simulated racing games
“The licence has been structured to encourage innovation and the capacity to generate more value for Victoria’s world-class racing industry,” Robinson said.
“Allowing the successful licensee to operate simulated racing games and a betting exchange creates opportunity for further development of racing-related products.”
Robinson said the Gambling Licences Review was working towards awarding the wagering licence before the end of the year.
For more information about the restructure of Victoria’s gambling industry, click here.