The joint venture between the industry and Tabcorp will take over paying interstate racing bodies a race field fee of 1.5 per cent of turnover, a cost that had previously been borne by the industry alone. The program fee Tabcorp pays the industry will be cut from $85 million to $72.6 million, indexed to inflation. In all, Tabcorp will pay a minimum of $1 billion to the Victorian racing industry over the first three years of the new licence.