Approval by the racing governing body will see existing tote pools across Australia merged into a new National Tote

Racing NSW has reached an agreement with Tabcorp to launch a new National Tote as part of a series of measures to future proof the thoroughbred racing industry in Australia.

The governing body for thoroughbred racing in New South Wales has approved the implementation of the National Tote, which aims to generate additional revenue and provide more opportunities for customers through larger totalisator pools.

The National Tote will combine the tote pools of NSW TAB in New South Wales; SuperTAB in Victoria, Western Australia and Australian Capital Territory; and UNITAB in Queensland, South Australia, Tasmania and Northern Territory.

Racing NSW will also implement other important initiatives to future proof the industry, including the extension of certain key agreements through to 2031. This includes international pooling, free to air rights for 52 Saturdays, and the continued funding of the Golden Eagle, the world’s second-richest race on turf that takes place at Randwick Racecourse in Sydney.

In addition, Racing NSW will manage Sky Thoroughbred Central, the flagship channel of Sky Racing and the thoroughbred industry, which will see new programs and initiatives to promote the NSW Thoroughbred Racing Industry and make the channel more appealing to new audiences.

“These announcements future proof the industry and ensure that our participants and clubs can continue to benefit from these important revenue streams,” said Racing NSW chief executive Peter V’landys AM, who is beginning a four-month service leave to take control of the National Rugby League (NRL). “Further to this, more revenue for the NSW Thoroughbred Racing Industry is expected to be generated from the introduction of a National Tote.

“The totalisator is an important part of the wagering market, and the National Tote can further stimulate tote betting through larger pools which make the pools more elastic. This ensures better value and more opportunities for punters.”

V’landys continued: “The innovations with Sky Thoroughbred Central are also significant. Racing is competing in a modern media environment, and we need to keep improving how the sport is presented, promoted and consumed.

“This agreement ensures that the NSW Thoroughbred Racing Industry has a platform to promote not just the races themselves, but also the horses and participants to showcase the sport to new audiences.”

Shares in Tabcorp Holdings Ltd (ASX:TAH) closed 5.20 per cent higher at A$0.91 per share in Sydney Thursday.