The global horseracing industry has suffered some major setbacks in the past several years as the gambling world takes to the internet and the online casinos and the horse racetracks are left with a dwindling number of punters interested in land horse races. In many countries and states all over the world the horse race industry has been protected from extinction by subsidies from land and internet betting companies. The Australia horserace industry has something altogether different in mind. Because of the new internet gambling legislation in Tasmania it is going to be easier than ever for a gambling company to obtain a license and begin offering internet betting services. The Australian horse racing industry is now considering the positive impact that a full online betting presence will have on the country’s horse racing industry.

The online gambling industry has really taken off in Australia in the past several years. Internet betting has not always been welcomed in the country and certainly the internet casinos are a touchy subject. The Australian market opened up the market to outside competition and dropped the state monopolies several years ago. The state gambling monopolies were able to take a hefty portion of the gambling company’s revenues and allocate that money as fit. The horseracing industry has been subsidized by the internet betting for some time now.

That can all change though with the expansion of the current online casino betting and gambling industry. Although some in the horse racing industry are fighting the expansion of gambling through licensing in Tasmania, there is a ripe opportunity here for the horse racing industry to find a long-term and sustainable solution to funding problems by capitalizing on the internet gambling opportunities.

This entry was posted on Friday, October 23rd, 2009 at 7:30 pm and is filed under News. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.