A post on another thread is relevant here.
I believe I am blatantly in agreement with 'jfc'.
Corporates have two tactical advantages.
First, any sensible 'win' and 'place' punter can usually get a marginally better price from a corporate -- and that 'free ride' means that TABs do not get the bet (and the takeout).
Second, corporates can screen out those punters that have the temerity to win regularly -- winning bets placed with a corporate is seen as causing an unfair reduction of their profitability.
Tabcorp and TABs generally are on the ropes for basic W&P betting business -- so their defences include rebates to the professional punters which further disadvantages the ordinary modest TAB punters which are the source of the money in the pools to be knocked off.
Even worse, corporates are so shielded by rapacious TAB take-outs from exotic bets, that they are able to take these bets -- paying TAB dividends -- with the alacrity of a protected return.
Racing administrators who thought their best protection was to tax Betfair on turnover, and not gross profit, made a very serious mistake -- and then compounded it by abusing their monopoly pricing position to screw the very punters that put the money in the tin for everyone.
As is, racing gambling is a dirty-pool game rigged against modest punters -- but, as the high-court says, betting is not compulsory so the dirty game goes on.