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NSW TAB has called on the Australian racing industry to “throw its weight behind a bid to ban betting exchanges, which it says threaten the future viability of the industry,” reported The Australian Financial Review.

In a letter from managing director Warren Wilson to Andrew Harding, chief executive of the Australian Racing Board, TAB called for support in lobbying government for a ban, noting: “We would have preferred not to be leading this debate, as many will see our position as ‘compromised’ as a competitor to Betfair & others in the marketplace. But as few others have stepped forward to voice a firm view, we have no choice.” It added betting exchanges are “a clever new bet mechanism, but with devastating effects on the funding of racing.”

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