In racing, there are few moments as intensely competitive as jockeys manoeuvring their horses into what they hope is a winning position down the home straight of the Melbourne Cup each year.

A similar thing is unfolding in the wagering landscape, with a feverish round of merger and acquisition activity about to kick off among the corporate bookmakers who will soon need to chase down a runaway market leader in a combined Tabcorp and Tatts Group.