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Sports chase fees
Message was posted: 12:10 Jul 11th, 2006

User: Riverfold Rank: Casino Gold: 4114CG Contributor rating: 8960 Status: Offline

Gambling news from http://www.heraldsun.news.com.au/ A COALITION of professional sporting bodies is about to step up its campaign to gain a slice of the $1.6 billion wagered on sports betting each year in Australia. The group called the Coalition of Major Professional Sports (COMPS) wants all wagering operators to pay so-called product fees which can be used to further develop the sports. COMPS was formed to represent sports such as cricket, rugby league, rugby union, golf, soccer and tennis in the negotiations, which are being led by the Victorian Government. Victorian Gaming Minister John Pandazopoulos will meet COMPS later this month ahead of announcing a legislative framework to govern sports betting. Draft legislation is expected to be released in coming months. The Government's discussion paper outlined a national plan to allow sports administrators to approve all sports gambling in a bid to return funds to the sports and guarantee the integrity of events. Unlike horse racing, which is funded through a joint venture with the sole wagering operator Tabcorp, other sports don't receive a return from the wagering operators who are presiding over massive industry growth. The amount spent on sports betting has surged from $100 million in 1994 to at least $1.6 billion in 2004. It is believed the Government favours the New Zealand model, which delivers 5 per cent of money bet on a sport back to the sport's administrators. AFL has signed funding arrangements with Tabcorp and the Packer-backed betting exchange Betfair to allow betting on its games. Betfair also last week signed a $1.1 million payment to Racing Victoria to allow Victorian racing fields to be published on its website and breaking a national lockout of the controversial group. Betfair director Andrew Twaits said it had also done a deal with Cricket Australia and was keen to extend that to other sports. A Tabcorp spokesman said it was happy to discuss product fees, but it wanted a consistent, national approach involving all wagering operators. "We are prepared to pay as long as everyone has to pay." Cricket Australia spokesman Peter Young said the sport wanted more control over its destiny and the integrity of wagering. "It is only fair that we receive some of the proceeds which are waged on our sport," he said. Football Federation of Australia spokesman Peter Friend said COMPS was aware wagering operators needed to be profitable, but the sports only wanted a "fair share" of the wagering dollar. A spokesman for Mr Pandazopoulos said the Bracks Government wanted sports to receive a financial benefit to avoid questions about the integrity of such betting.