How about this Ginger
Bookmaker monopoly on-course
Tote monopoly off-course (LBOs and over-the-phone)
Exchange monopoly on-line, for the non-recreational punter
pie in the sky, pigs might fly
Drone,
This would mean betting being uncompetitive. At the moment punters get a fair deal from both bookmakers and exchanges (well, better than most if not all other countries). Without competition Exchanges would put their commission rates up and Tote will put their over round up. Without competition from Tote what is to stop on-course bookmakers working to a higher percentage too?
Mark
Value Is Everything