The HKJC is to introduce a 10 per cent rebate program on all losing bets of HK$10,000 or more. “The rebate scheme is designed to hit illegal bookmaking,” revealed HKJC Betting Executive Director Henry Chan. The HKJC is looking to recoup as much as 20 per cent of the HK$60 billion lost every year to underground pools.
Elsewhere, Tabcorp has signed a memorandum of understanding with the New Zealand Racing Board as the first stage of a partnership which is now examing the possibility of co-pooling both the New Zealand Racing Board bets on Australian racing with Tabcorp and the Tabcorp bets on New Zealand racing with the board. Tabcorp Managing Director Matthew Slatter said the signing of the MoU is part of the group\’s strategy to target selected expansion opportunities in international markets.
The UK government has been forced to extend its deadline for the sale of the Tote as the horse racing industry is still trying to secure funding to satisfy the asking price, believed to be £400m.
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