Retail punters bounce back to TAB with 70pc backing Donald Trump

The AFL final series, spring racing carnival and US election are fuelling a buoyant betting market for Tabcorp.

Tabcorp's head of wagering Adam Rytenskild. Picture: Paul Jeffers

More than 2200 TAB retail workers are set to return to their counters in Victoria, just in time to take bets on the Melbourne Cup after Premier Daniel Andrews began easing restrictions on Melbourne’s three-month lockdown.

While Mr Andrews has maintained a 25km travel limit for Melbourne residents, he allowed restaurants, pubs and TAB outlets to reopen, albeit with limits of 20 patrons indoors and 50 outdoors.

The easing comes a week before the Melbourne Cup carnival, which will run without crowds, dashing any hopes the Victorian Racing Club officials may have had of opening Flemington’s gates to between 8000 and 30,000 people.

Adam Rytenskild, Tabcorp’s managing director for wagering and media, welcomed Mr Andrews easing Victoria’s restrictions and said TAB retail staff were ready to return to work after being stood down at the start of the lockdown in July. “We are ready to go. We have been open before and had to close again and so we know exactly what to do. All our procedures are ready to go,” Mr Rytenskild said.

“Social distancing procedures are well understood by the venues — not just the agencies but the pubs who choose to open as well, so we will start opening from tomorrow (Wednesday).”

The Australian understands about 400 TAB agents and their employees will start taking bets over the counter from Wednesday, joined by a further 1840 staff at pub TABs, bringing the total to more than 2200.

Tabcorp stood down 700 staff, mostly TAB retail and track staff, in April during the first corona­virus lockdown. The gaming giant tapped into $4m worth of JobKeeper, the federal government’s wage subsidy scheme, payments in the year to June 30 after its revenue had collapsed more than 50 per cent.

TAB retail outlets are a vital source of betting for the company, generating about 45 per cent of wagering turnover pre-coronavirus, and where most of its Sky Racing viewers are found.

But Mr Rytenskild, who has been mooted as an internal candidate to succeed outgoing Tabcorp chief executive David Attenborough, said in states other than Victoria punters had bounced back into retail outlets after being freed from COVID-19 restrictions during the past months.

He said the wagering market was also buoyant thanks to the smorgasbord of events happening simultaneously, including the AFL finals, spring racing carnival and US election.

Whether Donald Trump will be elected for another four years in the White House has occupied punters, even eclipsing the AFL final series that was delayed this year and held in Queensland to combat the spread of COVID-19.

“There has never been so much sport, racing all happening at the same time — and throw the US election in there as well, it’s been really popular with punters at the moment, it’s just huge,” Mr Rytenskild said. “We are holding more on the US election than we do on the AFL finals. And 70 per cent of punters’ money is going to Trump, whether that’s smart or not time will tell.”

Mr Rytenskild said while the digital betting competition was heating up — mainly from the large digitally focused corporate bookmakers such as Sportsbet, Ladbrokes and Bet365 — Tabcorp has been investing heavily in its data offering, playing down concerns the company was being left behind.

Those investments include integrating its smartphone app with retail venues so punters can access special deals and offers.

“(COVID-19) has caused us to be more innovative in the way that we are marketing events this year,” Mr Rytenskild said.

“We have had campaigns Make a Date With Play, so you can actually set up a party with your friends online. You can have Zoom parties, watch the races through Zoom — so the team has come up with some really creative ways with our promotions, offers and experiences.”