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Bookmakers balanced-book system only!

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The TAB must be terminated in favour of the current on-course bookmaker sytem - the balanced book system, paying the odds taken by the punter when he makes a bet..

The TAB was introduced off -course in NSW in 1963 as an easy option to harness  illegal off course betting for government revenue. It has since been sold.
No thought ws given to the effect on the punter.
The punter places a bet and the odds are calculated AFTER the race!
By contrast  professional licenced bookmakers take a bet and pay the odds that the bet was taken at. He is able to do this by balancing his book. ie by placing enough bets on other horses himself, to cover himself, ie be able to pay, in the event of the race going predominantly the punters way.
 He is able to do this and still make a profit because most horses are outsiders and a win for a small outlay is quite large. Hence he can cover his bets comfortably before the start of the race, if he is a professional.
There is no reason this cannot be done off course as well.
This would be a healthy recreational - work, as the case may be activity for both the punter and bookmaker.
In contrast the TAB is detrimental to the mental , emotional, spiritual and therefore physical health and well being of the punter, and hence the society as a whole, for the reason stated above, that it is not a bet at all, simply a lottery draw, with limited if any chance of making any real winnings.
The punter is treated as a mug.
There is no reason for this. A properly run betting system of balancing books and paying the odds given at the time of the bet would be as rewarding financially for the bookmaker, in this case the owners of the current TAB, as their current system. But just as importantly for them, they themselves would benefit mentally, emotionally, spiritually and hence physically as well from a healthy, vibrant, fair and free system, and thus remove this current disease from society.