Where Has The Money Gone Mr Bentley?

Media release
For immediate release
23 May 2009

Where has the money gone Mr Bentley?

Australia's best known bookmaker, Gerard Daffy from Sports Alive.com, is bemused by this week's
emotional outburst by the Australian Racing Board (ARB) Chairman, Mr Bob Bentley.

"Mr Bentley claims the racing industry faces "an annual loss of $126m in betting related revenue" said Daffy.

"Mr Bentley's comments demonstrate a failure to accept the facts. His blatant conflicts, due to his role as a
Tatts Group board member, have clearly blurred his thinking. The facts are that wagering turnover (with the
exception of the EI impact) is not regressive. In fact, both Tatts Group and Tabcorp have reported healthy
growth in wagering revenue of 15.2% and 13.0% for the half year to 31 December 2008. Tabcorp also
report `modest growth' even after taking into account the impact of EI.

"Corporate bookmakers in Australia are paying product fees and sponsorship to the racing industry that is
incremental to the existing revenues. How could the racing industry be worse off? Are the TAB's
withholding payments and if not what has the racing industry done with the money? They should be asking
Mr Bentley where has the money gone.

"Mr Bentley is trotting out the myth that tote odds betting creates leakage this myth has already been
busted the pari-mutuel operators already know that betting activity by corporate bookmakers stimulates
pari-mutuel turnover. So why would the ARB want to restrict this activity revenue generating?

"The comments by the ARB Chairman damage the racing industry, as they smack of the "old boys club"
thinking that is based on never changing and always protecting the status quo. Racing in Australia has
moved on from those days. Mr. Bentley's comments are reminiscent of the racing administrators of the 90's,
who said that internet betting should be outlawed because it would destroy racing's funding! Internet betting
is now the fastest growing distribution channel for betting and is also the most cost effective, resulting in
bigger returns for racing!"

"Daffy concluded, corporate bookmakers have already struck voluntary Product Fee and Integrity
Agreements with all the major sporting codes in Australia. The Victorian and South Australian racing
industries have already made their position clear in relation to working with competitors of the monopoly
TAB's. They too have both Product Fee and Integrity Agreements in place and are working effectively and
profitably with Corporate Bookmakers and Betfair. If the ARB was serious about growing the racing
industry, they should show some leadership and act rationally with a national approach based on fair and
equitable fees, rather than cynically attempting to scare the federal government into some form of
intervention.

ENDS

For further information:

Gerard Daffy
Betting Manager
Sports Alive.com
Mobile: 0419 815 785
Phone: 03-9699 4053