Bye bye bookmakers?

The racing industry in New South Wales seems to have got itself into a nice old mess as it attempts to make up the revenue lost when competition from bookmakers ended its cosy little relationship with a monopoly TAB. The latest efforts to charge bookmakers a 1.5% turnover tax probably still has some way to go through the legal system before being finalised but the likelihood is that if and when successful the corporate bookmakers from outside the state will move to another country rather than pay the impost. That is exactly what has happened in the United Kingdom with Gibraltar now that country’s betting headquarters.

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