TAB chief executive Gil McLachlan’s press for the National tote faces a crucial test in the next month with all three codes in NSW.
NSW remains the final state to sign off on the National tote, and McLachlan and Racing NSW boss Peter V’landys have been in discussions in the past couple of weeks to do a deal.
“It is like watching two Musketeers parry and thrust at each other,” said those inside the meetings between the two most powerful sports administrators in the country.
The art of the deal for V’landys is to get the better of McLachlan in the National tote deal, which both concede is a way to increase wagering-dollar returns.
However, he is not the only stumbling block for the TAB in NSW, where they need the signatures of the dogs and trots as well as the gallops.
McLachlan has stated he would like to have the National tote done by the end of the financial year, which gives the negotiations added urgency.
The National tote deal has been tied to the international broadcast rights for Racing NSW and the two good bedfellows in terms of international wagering income, a new form of revenue for the sport.
It is understood Racing NSW is close to coming to an agreement with TAB.
However, TAB will need Harness Racing NSW and Greyhound NSW to sign off on the National TAB for it to be approved by the NSW racing minister. Both codes see it as an opportunity. They are likely to ask for concessions to get the deal done.
They each see it as a way to get better deals with the TAB.
The dogs see it as an opportunity to get their “fair share” of revenue, while the trots will want assurances around its international wagering and broadcast agreements.
The National tote in the first instance will increase pool sizes, giving more liquidity for punters, particularly on the trots and greyhounds.
With more liquidity, there is expected to be an uplift in the overall Totes pool as punters take advantage of the greater stability that bigger pools bring.
It will also give TAB a better product to market in the competitive international wagering arena, as it sells vision and betting as a package deal.
The TAB’s team sells the National tote “as world pool every day,” but there are some who perhaps don’t appreciate that such a scheme isn’t universally loved.
McLachlan also has a problem within his organisation that attempts to convince some racing jurisdictions into vision deals.
“There is zero trust between us and TAB,” one racing official told Betsy.
TAB insiders hoped to have the deal by the end of April.
However, there is still a long way to go to get NSW to join the rest of the country in embracing the National pool.
