Tabcorp boss Gillon McLachlan declares his commitment to making national tote pool a reality

In a boon for racing punters, Tabcorp boss Gillon McLachlan has declared his intentions to make a national tote pool a reality.

Tabcorp boss has declared his intentions to make a national tote pool a reality for racing

Tabcorp supremo Gillon McLachlan has thrown his support behind bringing a national tote pool to life.

In an address to shareholders on Wednesday, Mr McLachlan said a move to one national tote pool would “deliver a stronger result for racing”.

“The tote remains an incredibly valuable offering for TAB,” Mr McLachlan said.

“I support a national tote. A national tote increases liquidity and provides more options for customers. It can also deliver a stronger result for racing.

• EXCLUSIVE: National tote pool edges closer with shock merger imminent

“I’m committed to working with racing bodies and regulators to do all we can to make a national tote a reality.

“Our assets hold the key to growth.”

Gillon McLachlan has thrown his support behind a national tote pool. Picture: Getty Images

Mr McLachlan’s public endorsement of a national pool comes after News Corp recently revealed that racing authorities in Queensland, South Australia, Tasmania and Northern Territory had made submissions to their respective state Office of Liquor and Gaming departments to merge the Tatts pool into Victoria’s.

Western Australia, the ACT and New Zealand already bet into the pool meaning NSW would be left one out if the move comes to fruition.

• PUNT LIKE A PRO: Become a Racenet iQ member and get expert tips – with fully transparent return on investment statistics – from Racenet’s team of professional punters at our Pro Tips section. SUBSCRIBE NOW!

Racing officials remain hopeful that the potential merger could be finalised in early 2025, with Mr McLachlan’s support of the move only expected to heighten that enthusiasm.

Mr McLachlan’s staunch support of a national pool will serve as music to the ears of racing officials and punters which have long yearned for the tote pools to be consolidated.

In the past decade, turnover generated through the totalisator – once the staple of racing revenue for the three codes – has been in steep decline, to the point whereby in many instances, it is seen as more as a hindrance than a help.

The gravity of the issue was recently laid bare by Racing Queensland boss Jason Scott in an interview with Racenet.

Tabcorp’s support of a national pool will go a long way to bringing the much awaited initiative to life

Mr Scott said the diabolic state of the Tatts tote meant more than 60 per cent of Queensland racing markets operated with less than $500 in the pool, ultimately resulting in customers becoming dissatisfied.

Having worked as boss of Ladbrokes in Australia and Bet MGM in America, Mr Scott has been a major driver of merged totes in Australia and said offering a reliable parimutuel price to attract the bigger punters back is imperative.

“I am excited and positive about the initiative and most importantly it will give the punters in those states some liquidity so they can be confident that the parimutuel price is going to look something like the horse’s chances of winning, similar to fixed odds,” Mr Scott said.

The popularity of the World Pool in its limited capacity on major Australian races has further fuelled Tabcorp’s drive towards bringing a national pool to life.

The totalisator in Australia has a lower take-out rate compared to the World Pool, providing higher returns to participants and punters if embraced.

In response to Tabcorp’s public comments of a national pool, a spokesperson for Liquor & Gaming NSW said.

“Liquor & Gaming NSW has not yet received a submission from the NSW totalisator licensee, TAB Limited, for the creation of a national totalisator pool or the combining of NSW totalisator pools with those in other jurisdictions.”

Originally published as Tabcorp boss Gillon McLachlan declares his commitment to making national tote pool a reality