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ARB Praises Watershed In Cross-Border Bets
Under the headline "End Of The Free Ride", the Australian Racing Board released a statement praising the "watershed change achieved in relation to cross-border wagering" via the latest regulations agreed between Racing Victoria & the Victorian state government. ARB chairman Andrew Ramsden declared: "Betting operators that use racing's intellectual property without making a fair contribution back to the sport have been the bane of the racing industry for many years now. The legislative protection of race fields that has just been invoked in Victoria is a truly watershed development. The Government & Racing Victoria have confronted the problem head-on & shown there is a workable solution. For more than a decade, Australian racing has been grappling with the problem of free riding: wagering operators betting on Australian racing without making the appropriate contribution back to the industry. July 2006 marks an enormously important turning point. Using the race fields legislation enacted by the Victorian Parliament, Racing Victoria has been able to say to corporate bookmakers, for example, that if they use racing's intellectual property then the industry must be properly compensated. Cross-border betting is an issue that is confronting racing authorities around the world. This development is a world first & everyone involved with making it happen should be very proud. It is a defining moment that augurs very well for racing's future financial prosperity."