State and territory governments are increasing their stranglehold on the shrinking pools of racing revenue funds through Point Of Consumption Taxes (POCT) on wagering. The public sell is “harm minimisation” and a “level playing field”. The reality is protection of the state base totalisator licence holders from corporate bookmakers who have innovated and brought competition to what was a stagnant retail betting sector.
The end result will be the further erosion of punters from racing codes in states and territories that have the POCT. The POCT is not a tax on corporate bookmakers. It Read full article