Sportsbet and Betfair appeal against Racing NSW dismissed

[sarah07]

The decision has been announced by the High Court Justice French at 10am on Friday, saying that the appeal of Sportsbet and Betfair against Racing NSW`s right to charge a turnover based fee on race fields, has been dismissed by the High Court. It means that on the NSW thoroughbred racing product, Racing NSW has the right to charge corporate bookmakers and betting exchanges a 1.5 percent turnover based fee. It is calculated that under the present legislation, Racing NSW has gathered race fields fees in excess of $200 million, which is not been able to be distributed to the industry pending the outcome of the appelas.