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Thursday, October 9, 2008

NTRA: Wagering Down 10%!

Today Ray Paulick highlights that wagering is off nearly 10%.

“Our industry’s difficult year continued during the summer as a harsh economy and other factors continued to negatively impact business,” said Alex Waldrop, president and CEO of the NTRA.


The harsh economy I believe is a scapegoat. In contrast:

Betfair shrugs off tough times.

BETFAIR SHRUGS OFF TOUGH TIMES

New CEO says company is on track to meet predicted 30 percent sales growth

The Australian newspaper The Age reports that Betfair's incoming chief executive in the land of Oz, Andrew Twaits, says the economic slowdown is having little impact on the firm, and after four months of trading in its new financial year Betfair is on track to beat its goal of 30 percent sales growth.

Fears that the licensing of Betfair in Australia and licensing the Darwin-based corporate bookmakers to operate on Victorian racing (see previous Online-Casinos.com/InfoPowa reports) would affect the traditional wagering provided by Tabcorp have proved to be unfounded, judging by the results so far over the spring carnival.

In fact, Tabcorp's win and place wagering figures have been on the increase since Betfair resumed operating on Victorian races from last July. There is little doubt that, rather than affect it, Betfair had stimulated Tabcorp turnover.

Twaits said this week that there was no doubt that the opening up of Australia's wagering industry, particularly Internet wagering, had led to increases in turnover by all providers, including Tabcorp. The disclosures have disproved dramatic claims by traditional horse racing associations and politicians who opposed Betfair's licensing that it would impact adversely on the industry.

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