Seeking to maintain monopoly retail position
Paddy Power-owned Australian online bookmaker Sportsbet has hit out at Tabcorp and Tatts Group, saying their opposition to legalising online in-play betting is hypocritical and merely a protectionist move in terms of preserving their business in retail outlets.
As Tatts Group and Tabcorp ramp up a lobbying campaign against the online innovation, WAToday points out that standalone TAB outlets along with pubs and clubs are growing increasingly concerned their revenues will be cannibalised should the federal government bow to pressure from corporate bookmakers and allow punters to bet on in-play online.
"The opposition to online in-play betting by retail bookies is hypocritical and protectionist," Government Relations Manager at Sportsbet, Brad Addison said. "Retail bookies, who in previous submissions to the government have supported online in-play, are now looking to maintain their monopoly of offering in-play betting in their retail stores."
"This stance further highlights their unwillingness to compete in a 21st century online environment that consumers are increasingly preferencing. By opposing in-play betting online, retail bookies are forcing many Australian consumers to bet with unregulated and illegal offshore operators, which poses significant integrity risks for Australian sports."
In a report released late January 2016, Morgan Stanley estimated Tabcorp's share of online turnover in Australia will fall to 23 per cent by 2018 from 30 per cent in 2010 due to the market being "raided" by UK bookmakers Ladbrokes, Bet365, William Hill and Paddy Power.
That same report surmises Tabcorp could revive its fortunes by expanding its recent UK Fantasy Sports deal with News Corporation into the Australian market.
Online Casino News Courtesy of Infopowa