Page 2957 - Week 10 - Wednesday, 14 September 1994
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Madam Speaker, the framework established by the sports betting legislative package will allow bookmakers to provide a comprehensive high-quality betting service to patrons. Sports bookmakers will be able to field on racing events as well as sporting events and contingencies. This authority will allow the sports bookmakers to fully service the needs of their clients. The betting auditorium will also hold a number of bookmakers who will be permitted to field on racing events only. Only bookmakers who regularly field at local race meetings will be invited to apply to operate a race betting service from the auditorium. I consider that the financial arrangements provided for in the legislation provide an appropriate balance which will encourage the bookmakers to establish a first-class service and provide a suitable return to the Government from a tax on turnover and annual licence fees.
Madam Speaker, the legislation provides a high degree of security to patrons. The dispute mechanism established to ensure that punter grievances are adequately addressed provides an appropriate level of protection to punters. Furthermore, sports bookmakers will be required to provide security guarantees. In addition, the directions issued by the Minister will include the requirement that all cash bets received on contingencies where the outcome is not decided for a period exceeding 28 days will be required to be held in a separate bank account and not form part of the bookmaker's assets. Madam Speaker, in a moment I am going to respond further to some of these matters in the form in which I recently transmitted my decisions to the Leader of the Opposition and the Opposition spokesperson on sport, recreation and racing.
Madam Speaker, the development of these Bills has involved extensive consultation with all sectors of the industry. The racing clubs in the ACT were involved in the process to develop the proposal and determine the most appropriate location for the betting auditorium. The ACT Bookmakers Association has been heavily involved and will continue to be heavily involved in the development of the policy framework of sports betting services. The Australian Federal Police will be involved in the development of the operational instructions for the betting auditorium. The amendments also provide for the removal of restrictions in respect of advertising for the sports betting service but, more importantly, the market or odds in relation to the outcome of particular contingencies.
Madam Speaker, the passage of these Bills in the ACT will provide the appropriate framework for the control and regulation of sports betting and allow for the establishment of a first-class high-quality sports betting service in the Territory. The Bills provide the framework to establish the ACT as a centre of excellence in respect of bookmaking services and will allow the ACT to compete favourably in the national wagering environment.
Madam Speaker, Mr De Domenico raised a number of issues, in particular questions as to contingencies, interest rates and so forth. I think it is appropriate that I read into the transcript my response to each of those, as previously transmitted to the Bookmakers Association and indeed to other interested groups in the ACT. I begin with the second paragraph:
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