Fascinating piece on Aussie rebate churner..

[gamblin4ever]

Originally Posted by Kasept

This is quite a story. Rebates to the tune of $44 million and the Australian government's tax bill.. And remember Capital Play who tried to get involved in the NYRA franchise bid?

Long read: http://www.afr.com/p/national/the_ga...XaVFjmpyYXNu9J

Pretty compelling story of how rebates ruin racing.