Glad for your thoughts Sinbad. However if Betfair and Corporates would have chipped in $240 mil. under gross profits rate as you state, why would they fight through the courts against a turnover proposal which will only cost them $120mil?? Further, anyone in business or accounting will tell you that revenue/profit is very rarely an accurate reflection of the success of a firm and rarely reflects the wealth a firm creates. The industry cannot rely on rubbery financial reporting for its future funding. Also, the reaction from the Victorian Racing industry to the recent judgement indicates that Breeders, owners and trainers all think they have been dropped in it by RVL through their committmetn to the profit model for the next two year. I think there are very few people in the game that aren't rejoicing the finding of the Federal Court.

I am all for the competition created by the corporates and Betfair. Their investment and promotion in the industry has certainly grown the wagering market. I just think that the industry needs a reliable contribution from them to counter the revenue being lost by the lack of growth in Tab contributions.