This weekend you can go down to your pub, club or local TAB agency and take a pick-four, a trifecta, quinella, exacta or whatever exotic bet and collect the TAB dividend iof you are fortunate enough to have a win or you can phone Sportingbet and collect the TAB dividend plus an extra 20%. It's not hard to open an account and ordinary punters are doing so in their thousands. Give it a couple more years and the TABs will be as competitive as your corner store is with Woolworths and Coles. You will deal with TABs on impulsive occasions and do your proper punting with one of the corporate bookies.
The big loser out of competition entering the wagering business eventually will be horse breeders as race clubs are forced to reduce the prize money they offer which will flow on down to the bloodstock market where prices will fall.