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The Australian horse racing industry is failing and there are some pretty massive issues with the plans to continue funding this form of betting. The horse racing industry has suffered not only from the slow move onto the online casino platform, but also because actually attending the horse races is a pastime fast becoming obsolete and passé. In the most recent weeks, two major conferences have taken place to specifically discuss the changes that are needed to better bolster and support horse racing. The key idea being promoted by the race tracks are laws and regulations that would require various sectors of the land and online betting market pay money to the race tracks. It’s not surprising that the gambling companies are not pleased with the prospect.

The idea would be to make online casinos and betting companies pay higher taxes on their revenues as a way to subsidize the slowing horseracing industry. But the gambling companies are wondering why the full thrust of this falls to them? In fact, they key argument is that the proposed taxes that the gambling sites would pay are just too high to sustain long term. Additionally, the online casino betting companies feel that this is simply not a long term solution, that efforts are needed to address some of the more underlying issues that are found at Australia’s horseracing venues.

The online casinos look like a rosy solution right now because of the prosperity within the gambling industry despite the global economic recession. The gambling sites warn though, that this may not last and if the horse racing industry is solely relying on support from the internet gambling industry it could cause major issues when/if revenues ever dip low.