tabcorp online horse racing are making them billionaires

Tabcorp's Online Gambling Business Soars

Tabcorp Corporate Offices Tabcorp's Online Division Shows Record Profits

By Susan Cardenas
July 5, 2007

Tabcorp is the largest gaming and entertainment brand on the Australian Continent, and one of the largest publicly traded gambling companies in the world. New reports released by the company now show that Tabcorp's online gambling division is equally successful, and is actually the company's fastest growing market.

The results are in, and they are shocking. Gamblers who wager at Tabcorp's online gambling division wagered an astonishing $1 Billion during the company's last financial year. The gambling giant, which is the largest in Australia, reported that annual revenues from it's internet division grew by 25% last year, bringing in a total of $1.012 Billion in wagers.

Out of the wagers that were placed with Tabcorp via the internet, the vast majority were wagers that were placed on thoroughbred, harness and greyhound racing. Bets on these racing events accounted for $827 Million. Online gamblers spent another $185 Million betting on Rugby, Soccer, Golf, Tennis and the Australian Football League.

With such a phenomenal amount of betting activity taking place across the Tabcorp online gambling division, it is little surprise to see executives at the company state that online gambling now accounts for 11 percent of company revenues. If current growth trends continue, this figure will be much larger one year from now.

Australia's Herald Sun newspaper reported Robert Nason, the Wagering Director for Tabcorp, as saying, "Consumers continue to embrace the speed and convenience of online betting. It continues to be our fastest growing distribution channel."

Nason reports that 81 Million bets were placed with Tabcorp over the internet last year. The busiest day of the year for Tabcorp's online gambling division came during the Melbourne Cup, when more than 550,000 people visited the Tabcorp web site.

The report released by Tabcorp notes that the company now boasts more than 400,000 registered accounts, with 140,000 of those being enabled for betting online. Most of those who choose to place their wagers via the internet spend an average of 19 minutes online when placing bets.

Tabcorp is a publicly traded company on the Australian Stock Exchange. Shares for the company first traded in 1994 at a rate of $2.25 per share. Upon today's news of the company's internet gambling boom, shares rose 15 cents to $17.39 per share.