The Australian Competition and Consumer Commission today approved two arrangements which provide wagering services to Australian punters.
The ACCC has authorised the joint supply of fixed odds betting services by TOTE Tasmania Pty Limited, ACTTAB Limited and Racing and Wagering Western Australia (RWWA) and the appointment of Centrebet Pty Ltd to manage these services.
In a separate decision, the ACCC has also authorised the continuing participation of ACTTAB and RWWA in the SuperTAB totalisator pool operated by Tabcorp.
Authorisation provides immunity from court action for conduct that might otherwise raise concerns under the competition provisions of the Trade Practices Act 1974. Broadly, the ACCC may grant an authorisation when it is satisfied that the public benefit from the conduct outweighs any public detriment.
"TOTE Tasmania, ACTTAB and RWWA jointly offering fixed odds betting will reduce the costs involved in offering these services and allow them to more effectively and efficiently manage risk," ACCC chairman Graeme Samuel said.
"The arrangements will also assist them to provide a wider range of betting options to punters at more competitive odds."
While Centrebet will manage these arrangements, it will not set its own odds in conjunction with TOTE Tasmania, ACTTAB and RWWA. Rather, Centrebet will continue to set the odds it offers punters separately to the joint venture partners.
"ACTTAB and RWWA's continued participation in the SuperTAB pool will also benefit punters in WA and the ACT by providing them with a larger and more stable totalisator pool to bet in," Mr Samuel said.
TOTE Tasmania's ongoing participation in the SuperTAB pool was approved by the ACCC in March 2008.
The ACCC has approved both sets of arrangements for the proposed duration of the respective agreements. In the case of the TOTE Tasmania, ACTTAB and RWWA fixed odds joint venture, this is until May 2014 and in the case of ACTTAB and RWWA's participation in the SuperTAB pool, this is until August 2012.
The ACCC's decisions to authorise these arrangements affirms its draft decisions. Both sets of arrangements have been operating under interim authorisation while the ACCC considered the applications.
The ACCC's determinations will be available at www.accc.gov.au/AuthorisationsRegister