New South Wales pushes ban on Internet betting

The New South Wales government launched a campaign against Internet betting, saying it strips the racing industry of $10 million in yearly revenues, ABC Online reported.

The Gaming and Racing Minister, Grant McBride, said the government should finalise a yearlong inquiry into the issue and ban betting exchanges.

Betting exchanges are seen as a threat to the industry as they allow punters to bet that a horse will lose a race, which Mr McBride said encourages dodgy practices.

"A major issue with the racing industry has always been its integrity and the probity of the industry," he said.

"That's the thing that brings the industry undone. What we've seen over in Great Britain, which is the home of the racing industry, we're seeing a great cloud go over that industry as a result of Internet betting and betting exchanges."