After consultation with the Race Clubs of NSW, Racing NSW will adopt a different approach to the threshold of $5million.
In previous years, wagering operators were exempt from paying any fee under the $5m threshold. From 1 July 2013, wagering operators will be exempt from paying the full fees of 1.5% on standard race meetings and 2% on premium race meetings on turnover under the $5m exempt threshold (subject to the position in respect of related wagering operators), but will be required to pay a fee of 1% of any turnover under that threshold.
Racing NSW has today written to all Australian wagering operators required to hold a Racing NSW Race Field Information Use Approval advising them of the above. The new fees apply to all wagering operators, regardless of their location in Australia, or the amount of their annual turnover.
“This levy is introduced to collect new monies for the NSW Thoroughbred Racing Industry for the use of its race field information,” said Keith Bulloch, Racing NSW’s Acting Chief Executive.
“Previously, the charge has been zero until $5million was reached, then the 1.5% and 2% fees commence.
“Wagering operators are still exempt from paying the full fees under $5million but are now required to pay a reduced fee of 1% under the exempt threshold.”
The move brings New South Wales into line with most other Australian States who charge race field fees on all wagers. The new monies will be paid entirely to NSW Race Clubs to help them with the costs of conducting their race meetings.
“Our aim with race fields fees has always been to collect a fair return from the wagering operators who benefit from the use of the NSW racing product. The new model of charging fees on all wagers merely reflects what is already being practiced in most Australian States,” Mr Bulloch said.
In consultation with the Clubs, Racing NSW is designing a payment scheme that will provide both a standard return for turnover on their race meetings and an incentive component that encourages and rewards on-course initiatives and increased raceday participation.
“On this occasion, the decision to return the extra monies to Race Clubs provides some surety to Race Club budgets in relation to betting turnover on their races and incentivises Clubs to improve the raceday experience for patrons,” he added.
Source : Racing NSW
