$501 in Bonus Bets
Get your first bet matched with up to $501 in bonuses*
$500 Matched Deposit
Sign-up and get your first deposit matched with up to $500 in bonus bets*
$500 Matched Deposit
Sign-up and get your first deposit matched with up to $500 in bonus bets*
$500 Matched Deposit
Sign-up and get your first deposit matched with up to $500 in bonus bets*
* All Offers and Promotions posted in this article exclude NSW residents.

Reducing tax on racing bets will help make NSW the biggest racing state in Australia, Deputy Premier and Racing Minister Troy Grant says.

The current tax rate of $3.22 per $100 wagered will be cut to $1.28 per $100, Mr Grant announced on Tuesday.

The cuts will bring the tax rate for thoroughbred, harness and greyhound racing into line with Victoria by 2020.

However Mr Grant says any extra funds to be returned to the greyhound industry will be quarantined pending the outcome of an investigation into the live-baiting scandal.

He says the racing industry, which is worth $3.3 billion per year to NSW, needs to be able to compete on a level playing field.

“Otherwise we’re sending jobs and investment interstate,” he said in a statement on Tuesday.

Mr Grant said the cuts would return $235 million to the industry over the next four years.

NSW Premier Mike Baird said the aim is to turn The Championships into an event that can overtake the Melbourne Spring Carnival and provide enough prize money to rival the Melbourne Cup.

“We want to take the business off the other states and bring it here to NSW,” Mr Grant told ABC Radio.

“We can have the biggest racing industry in the country given our geographic size and the amount of participants, but we want it to be the best,” he said.

Racing NSW welcomed the announcement.

“In the two years we’ve had The Championship it’s grown considerably – if it continues to grow at this rate we’ll certainly be giving The Melbourne Cup a good nudge as the best racing event in Australia,” Racing NSW chief executive Peter V’landys told 2GB radio.

But there are concerns the tax cuts will increase problem gambling.

“The Baird government is about to deliver a win to the well-cashed-up racing lobby and its powerful allies in the gambling industry,” said Greens NSW MP John Kaye.

“This is a win for racing and a loss for problem gamblers, the state’s economy and animal welfare.”

Mr Kaye said if the NSW Liberals and Nationals had a spare $85 million, it could be spent on employing 850 new teachers or nurses.

 
$500 Matched Deposit
Sign-up and get your first deposit matched with up to $500 in bonus bets*
Tags:
  • DEPOSIT $50
    start betting
    with
    $250*
    CLAIM NOW
  • first bet
    matched
    up to
    $501*
    CLAIM NOW
  • DEPOSIT $50
    start betting
    with
    $200*
    CLAIM NOW
  • first deposit
    matched
    up to
    $500*
    CLAIM NOW
* All Offers and Promotions posted in this article exclude NSW residents.
Featured News

Over $5,000 in Bonus Free Bets

Just Horse Racing provides readers with the best Free Bet offers available at every online bookmaker in Australia during the...

Winx set for racetrack return

Champion Winx will meet Australia’s best sprinter Redzel in a barrier trial at Rosehill as the pair embark on their...

Boom 2YO filly dies

Boom 2YO filly and one of the key contenders for the 2018 Golden Slipper has sadly passed away following a...

Nature Strip continues rise in Inglis Dash

Exciting sprinter Nature Strip has continued on his winning way with a hard-fought victory in the $250,000 Inglis Dash at...

 
 
 
Copyright © 2017 Just Horse Racing.
All rights reserved.

Gamble Responsibly 18+
*State exclusions apply to some offers. Please check T&Cs of each offer with the bookmaker. All Offers Exclude NSW residents.