Yes but a new bet type that generates additional turnover that racing is then entitled to a share of is different to a sponsorship whereby TABCORP either gifts the money or receives other benefits for handing it over as a sponsor of the race.
Not in the age article but racing.com I think mentioned $500,000 as being the sponsorship amount from TABCORP, I’ve no idea how or where the rest is coming from but I can’t imagine Peter V’Landys announcing a $7.5m race that he isn’t guaranteed the bulk of the funding for. No doubt there is a stoush between Vic and NSW, have to wait and see how it turns out, but I still feel this has a lot to do with publicity for the race.