The Herald Sun newspaper in Victoria, Australia reports that Tabcorp is gearing up to answer the growing competitive threat of corporate bookmakers. It response is to give notice of its intentions to offer fixed odds on every race in all three codes by the end of the year.
Tabcorp chief executive Robert Nason said the move was the best way to compete with corporate bookies betting on Tabcorp’s traditional tote product.
Outlining his plans, Nason told the newspaper: "The best way to fight the rise of corporate bookmakers is to continue to encroach on their territory by providing a greater fixed-odds service".
"We need to fight fire with fire and by providing this service, along with having our own corporate bookmaker in Luxbet, [we will be] taking the fight up to them."
Nason revealed that Tabcorp recently added 8 price assessors to its ranks to bring its total to 30. "By the end of the year, when a punter enters a TAB the fixed odds will be displayed prominently, giving punters a clear choice between betting on the tote or taking a fixed price," he concluded.