The TAB claims its Web site has brought in $2.4 million in foreign exchange since August last year.
TAB acting chief executive Glen Maguren says betting on the TAB's Internet site has passed the $4 million market for the year to date, with $2.4 million (60%) of all bets being placed from overseas.
"This year we're on track to achieve $10 million in turnover, compared to $500,000 for the last financial year [ending July 31]," he says. "Our turnover in the last two months has been in excess of $200,000 per week."
Maguren says 70% of sales on the Internet have been from racing, with just over half on Australian races. This is counter to expectations which were that Internet betting would be most popular for general sports betting.
According to Maguren, the Web site has more than 4500 active customer accounts, with approximately 250 new accounts being opened every month.