The facility will allow betting on all thoroughbred, harness and greyhound races held across Australia.
The subscription-only service will also provide racing results, track conditions, detailed form guides, approximate and final dividends, and personal account information.
But critics have slammed the Victorian Government’s decision to approve the deal brokered by Two Way, Foxtel and Tabcorp.
Anti-gambling groups say this new way of betting will make it easier for teenagers to bet and harder for problem gamblers to resist temptation.
“We are concerned that the state Government allows virtually every method of gambling to be introduced. We can’t see that this will add any good to the community,” anti-gambling taskforce spokesperson Brad Halse told The Australian.
Two Way said its “subscription television wagering service” had all the necessary safeguards.
“Betting through the service is only available to Tabcorp wagering account holders, who must satisfy identification requirements,” the company said in a statement.
“Further, Foxtel subscribers can require a PIN code to be used to access the Sky Racing channel. This is in addition to the password that is required to access a Tabcorp account.
“The service also includes extensive responsible gambling messages on screen.”
A spokeswoman for Victorian Gaming Minister Tony Robinson also claimed there were enough safeguards in place.
“The service has been approved by the Victorian Commission for Gambling Regulation,” she said.
“(It) meets the appropriate security and integrity requirements, offers extended responsible gambling messaging and provides safeguarding of the service from possible use by minors.”
Two Way TV chief executive officer Ben Reichel said the company planned to expand the concept beyond the state.
Two Way Limited is pleased to announce that it has received regulatory approval to launch its subscription TV wagering service in Victoria.
The service is linked to the Sky Racing Channel on the FOXTEL platform. It provides detailed race and wagering information for all thoroughbred, harness and greyhound race meetings being held around Australia each day.
The information provided includes track conditions, detailed form guides, approximate dividends, results, final dividends, and account information. All of this information is updated automatically in real time.
In addition, once the service is launched, holders of Tabcorp wagering accounts will be able to use their FOXTEL remote control to place bets, including all bet types offered by Tabcorp. The service includes all necessary and appropriate consumer safeguards. Betting through the service is available only to Tabcorp wagering account holders, who must satisfy identification requirements.
Further, FOXTEL subscribers can require a PIN code to be used to access the Sky Racing channel. This is in addition to the password that is required to access a Tabcorp account. The service also includes extensive responsible gambling messages on screen.
Accordingly, the subscription TV wagering service offers more extensive consumer safeguards than current internet and telephone wagering services.
Chief Executive Officer of Two Way, Ben Reichel, said: “We look forward to making the benefits of our service available to Victorian punters, and hope to deploy the service around Australia in the near future.”
Two Way and its partners, Tabcorp and FOXTEL, will now proceed to a commercial launch of the service, which is expected to occur in April 2008.