Tote Tasmania announced yesterday it has achieved a 30 percent increase in turnover from the previous year to earn a record-breaking 498 million Australian dollars this fiscal year.
The company brought in 478 million Australian dollars in parimutuel wagering alone, which was up 27 percent compared to last year. Sports betting turnover rose by 11.8 million Australian dollars.
In a prepared statement, the company attributed the majority of its growth to customers outside of Australia betting through online and telephone accounts. It also mentions an arrangement with Betfair, which gave the company access to Betfair’s global customer base of more than one million punters and contributed to its growth in parimutuel wagering.
Michael Kent, Tote Tasmania chairman, said in the statement the company has seen movement in the mix of wagering on Tasmanian product compared to national and international product fall in recent years. Wagering on Tasmanian product accounted for 8.7 percent of total turnover in the 2006 fiscal year, he noted, but said this figure fell to 6.8 percent in 2008.