October
MarchSoft target
Clearly, Victorian state treasurer Tim Pallas doesn’t bet. If he did wager, he’d realise rapidly that a proposed consumption tax, in any form, is yet another potential hit on a soft target, i.e. the betting public.
If he and his interstate colleagues, who obviously lack imagination, persist with enacting a consumption tax they will drive bettors to wager with illegal offshore operators and further penalise state treasuries and the racing industry.
Totalisator holds have gradually reduced over decades whilst takeout rates have progressively increased — you don’t have to be a genius to see the cause-and-effect situation.
Here’s a great opportunity to show some innovation and, dare I say, leadership with regard to tote betting.
Reduce the takeout rates to 10 per cent on all bet types, promote it effectively and declare dividends to a $2 wager in five-cent increments to give truer dividends.
With increased turnover and better dividends, this would benefit all concerned including state governments and the racing industry.
But it’s too obvious to expect innovation with the take, take, take mentality currently on display.
Rather than targeting the wagering public, government at all levels would better serve us all if they pursued the business price-transferring rorts that currently exist and garnered funds from that sphere.
Geelong West (Vic)