Racing NSW yesterday announced significant changes to its race-fields fees that will affect many wagering operators.
Racing NSW yesterday announced significant changes to its race-fields fees that will affect many wagering operators.
From July 1 all wagering operators will be required to pay one percent of turnover up to $5 million, before the standard 1.5 percent on standard race meetings and two percent on premium meetings applies.
In previous years the rules in NSW saw all wagering operators who turned over less than $5 million pay nothing.
Racing NSW says it yesterday notified all Australian wagering operators required to hold a Racing NSW Race Field Information Use Approval, advising them of the changes.
It says the new fees apply to all wagering operators regardless of their location in Australia.
Racing NSW’s Acting CEO, Keith Bulloch, said the levy was being introduced to collect new monies for the NSW Thoroughbred Racing Industry for using its race field information.
“Previously, the charge has been zero until $5million was reached, then the 1.5% and 2% fees commence,” Bulloch said.
“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 to NSW Clubs to help them with the costs of conducting their 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,” Bulloch said. (Racing Network news).