Players betting on horse races online along with using telephone accounts helped Tote Tasmania report a 30 percent increase in annual turnover of $329 million for the most recent financial year.

Players placing wagers from outside Australia also helped the firm following an arrangement with Betfair that provided the company with access to a global customer base of more than one million punters. Tote Tasmania reported that parimutuel wagering totalled $316 million, which was a 27 percent increase compared to last year, with an estimated 70 per cent of this coming from international customers.

The company's annual report, which was tabled in Parliament late last week, reported that sportsbetting turnover increased by $7.79 million while its broadcast incomes through Tote Sport Radio increased by eleven percent.

Michael Kent, Chairman for Tote Tasmania, revealed that the firm distributed a record $15.66 million to the local racing industry over the prior twelve months, which was up from $13.48 million for the previous year.

“Competition for punter spend is fierce,” said Kent.

“Tote Tasmania has seen movement in the mix of wagering on Tasmanian product compared to national and international product fall in recent years. Wagering on Tasmanian product accounted for 8.7 percent of total turnover in 2005/06 but this figure fell to 6.8 percent in 2007/08.”

“The industry needs to ensure Tasmanian racing has the widest appeal possible to both a national and international audience and can capture opportunities as they present themselves.”


Source: iGamingBusiness.com