For decades, the tote was the beating heart of Australian wagering. It funded racing, set the odds, and gave punters everywhere a fair go. But times have changed. Fixed odds and flashy apps have stolen the spotlight, and the humble tote has been left gasping for air.
Now back in the bookmaking game as CEO of The Booki Group, former Racing Queensland boss Jason Scott doesn’t sugarcoat it. He believes tote betting in Australia is on life support.
“It’s (tote betting in Australia) already dead in Australia. It’s like the living dead, you either stimulate it or close it up.”
Tabcorp CEO Gill McLachlan has put a national tote firmly on his agenda, with a goal of making it a reality by the end of June 2026.
A national tote would see the three major totes in Australia merged into one in a last-ditch attempt to increase liquidity and stimulate interest in the dwindling product.
Scott, who boasts extensive wagering experience, believes the tote has been neglected over the past two decades.
“I was probably the biggest support in Australia when I was the CEO of Racing Queensland. The reason being the UNiTAB pools – particularly on those two smaller codes – you can’t have $200 on a dog at $6 without making it start $2.”
“What we’re seeing now in these parimutuel (tote) pools – they may as well not exist.”
He points the finger squarely at Tabcorp.
“I think Tabcorp over the last 20 years have to take a lot of the blame for this. They haven’t done anything to stimulate the betting.”
“They’ve got to spend some money on this to get it vibrant and liquid.”
Scott not only believes the tote can be salvaged in Australia, but Tabcorp should eye off bigger goals and look to compete with the Hong Kong Jockey Club’s World Pool.
“We saw on Saturday what a disgrace the World Pool is to punters. The takeout rate of the World Pool is horrific.”
“The World Pool only operates 35-36 days a year, Tabcorp could own it the other 330 days of the year.”
“Let’s take on HK, instead of being frightened. A World Pool with Australian take-out rates – imagine what an advantage that would be for Australian punters.”
“The big guys – Nick (Dr Nick), Zeljko (Ranogajec) – who have half-left, have left Australia, would be back.”
“There’s a way for TAB to get a vibrant pool and it’s the start of trying to take on the world. I think that’s probably why Michael Fitzsimmons (ex HKJC Head of Wagering) was employed in there, because he’s got the background in it.”
“That might be the way the Gil (McLachlan) is heading, and I hope he does.”
Scott also draws a connection between the tote and the Same Game Multi craze that’s dominating younger punters’ attention.
“We’re seeing with SGMs young punters are looking to spend $10, $20, $30, $40 to try and win lottery like numbers.”
“That’s what first fours and trifectas are. It seems to be the same product that’s absolutely killing it for AFL and Rugby League at the moment.”
“I reckon if Sportsbet marketed it, they’d be able to get them to do it.”
Corporate bookmakers have leveraged tote dividends to develop best tote products. Scott believes under a one-tote model corporates should be duty bound to bet back into the pool, to help stimulate further liquidity.”
“I tend to think it’d be to everyone’s advantage to if they go to one tote to make it compulsory for all corporates to bet back 5% or something. The corporates would be better off too. They’d have a dividend that’s actually representative of the fixed odds price.”
“5% of turnover is not going to cost them a lot if Tabcorp give them a decent deal and half the commission rate.”
“Whether you can sell that to the other two big boys (Sportsbet and Ladbrokes) I’m not sure, but it seems a logical way to get money into the pool.”
Scott sums it up bluntly: “If they don’t merge the parimutuel pools, they may as well close them down”.
