Sydney bookmakers have dismissed Racing NSW's decision to allow internet betting on a 24 hour basis as too little, too late.

The racing administrator announced on Wednesday that licensed bookmakers would be able to take bets via the internet on NSW racecourses or from an approved bookmaking office.

However, bookmakers say that does not address their problems regarding the ability to bet best Tote or to take bets on non-racing events as interstate and corporate bookmakers can.

Leading Sydney bagman Robbie Waterhouse echoed the thoughts of his rivals in the ring at Canterbury on Wednesday when he said no-one would apply.

"I would be very surprised if any bookmaker applies," Waterhouse said.

"We can't offer any more products like best Tote as they do in Victoria or betting on exotics like elections.

"The cost of setting up a 24 hour office are huge and no-one is going to do that when it doesn't solve anything.

"Obviously they (Racing NSW) don't understand the problems."

Long serving Sydney bookie Con Kafataris has announced he will give up his on-course business to concentrate on his corporate wagering firm Centrebet which is licensed in the Northern Territory.

Racing NSW is awaiting the results of a court action brought against it by betting exchange Betfair and corporate bookmaker Sportsbet over the 1.5 per cent fee it charges for use of race fields.

Bookmakers licensed in the Northern Territory and the ACT pay a smaller percentage to operate in those precincts.