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Came across this article and thought it may be of some interest to the BF Forum
In many countries around the world the “betting exchange product” still doesn’t sit well with the powers to be. Even in Australia where it has been licensed for 7 years, it is still considered a thorn in the side of the Racing Industries around certain Racing Administrators board tables. Be assured that if it wasn’t for Betfairs Australia’s 50% partner in Packer/Crown, Betfair wouldn’t be operating on Australian shores.
Betfairs Australian venture is so far a long way from delivering any profits to its share holders. Another loss in 2013 of $1.6 million was Betfairs sixth loss in seven years of operation, taking the balance of losses to over $47 million since 2007. BUT, now James and Crown Resorts have decided to buy the remaining 50% of Betfair Australia to add to his Casino Empire.
I have gotta ask !! WHY……………………………. ???
Why would Packer want to take on the 100% loss of a company that has been operating so poorly for 7 years ? does he suddenly think he has more knowledge of the online Bookmaking and Exchange business than all the other operators in cyber world. Do they think they can do it better than the number one exchange operator in the World ? also remembering his last venture into the cyber world casino business was a dismal failure in Vanuatu resulting in a 10′s of million dollar loss. Now, if we are to believe the media reports that James wants to cash in on the $30 billion wagering market and start to push into the lucrative fixed odds arena with a low cost purchase of an online player, and with his huge cash reserves he could “gazump” smaller online players, as well as threaten the wagering operators Tatts Group, Tabcorp, William Hills, Ladbrokes, PaddyPower and Bet365. YEAH, that must be right, James wants to take on the biggest online wagering operators in the world and expects to succeed betting fixed odds.
Of course Crown has a huge data base of clients from Australia and all over the world and their media power can flood the brand into the already saturated gambling advertising realm and make some sort of impact. There is a slight problem with their Australian data base of clients, and that is they are and have been betting with the established bookies for the last 20 years, so to lure them to his inexperienced, not so new product may be a bit harder than anticipated.
I’m sure the Packer/Crown advisors are aware that the “Race Product Fees” on turnover which was adopted a few years ago by the entire Racing industry, is now up for revision, and the general consensus is that the “Fee” will all most certainly double to 3% or more. This was a easy decision for the 3 codes of Racing (thoroughbred, harness, greyhounds) all they did was have a look at the bulging profit margins of the big 3 corporate bookies, who now control 80% of all fixed odds betting turnover. Now, if you are a Betfair exchange user, you would have noticed the impact the base rate commission of 5% being raised to 6.5% had on the liquidity of the Australian Racing product across the board, now they will have no choice again, but to raise the Australian Racing Exchange products to a base rate of 8%. This most certainly will change the Australian Racing Exchange product into, solely a play ground for the professionals and BOTS and completely void of what the industry now hate to refer to as “mug money”. They are aware of this? They must be?
So, once again, I gotta ask……………………………………………….WHY ?
It may, or may not be obvious, that the one man (James Packer) and the one company (Crown Resorts) may be the power shift needed to implement what the last “Gambling Productivity Commission Report” recommended, that “Online Gaming” (Poker, Blackjack, Baccarat, Roulette, Virtual EGMS) and lotteries, Keno and Bingo all be approved and regulated. Mr Packer has always know that he will eventually have to bite the bullet and put his considerable weight behind the push for legalization of “Online Gaming” in Australia. And now the stars are align, he now owns 100% of the Australian arm of Betfair a considerable online world presence, his software is now state of the art and ready, the numbers now tell him that the estimated 0ne or two billion dollar leak by Australian citizens to over seas gaming operators has become large enough for him financially to get involved and most importantly he has the man in the big house at his beckon call for at least another 3 and a bit years. Mr Packer is acutely aware that the five big Corporate Bookies in Australia are all huge international organizations owned and controlled by overseas Board Rooms, and at the minute, Online Gaming becomes approved for operation all they need to do is flick a switch, and blink, there it is right in front of their Australian online facing clients. So now Mr Packer is all set at the starting blocks to push Online Gaming through the parliament and with that new legislation comes “In Run Betting” on sports, which gives a huge boost to exchange betting on sports which still has a base commission rate of 5%.
Now here is the punch. The “Australian Racing Exchange Product” receives no benefit at all from the legalization of online gaming in Australia, in fact when there are enough figures to analyse, I’m sure online gaming will detract from Race wagering over all. The 8% base commission Betfair Australia will be forced to charge on the bet side of their wagering will make the product in the greater amount of cases uncompetitive against the bookies offerings, and recreation betting liquidity will quickly dry up. But soon Betfair Australia/Crown Bet, will have a profitable and growing sports betting exchange, profitable online casino games in Blackjack, Baccarat, Roulette and the biggest money spinner of all the online games, Pokies/Slots. So, some how I don’t think an unprofitable Racing Exchange Product will list high on their priorities, when there are so many more RISK FREE products to concentrate on, which includes the highly profitable way of conducting business on the 3 Racing Codes that the foreign Corporate Bookmakers have brought to Australia.
In many countries around the world the “betting exchange product” still doesn’t sit well with the powers to be. Even in Australia where it has been licensed for 7 years, it is still considered a thorn in the side of the Racing Industries around certain Racing Administrators board tables. Be assured that if it wasn’t for Betfairs Australia’s 50% partner in Packer/Crown, Betfair wouldn’t be operating on Australian shores.
Betfairs Australian venture is so far a long way from delivering any profits to its share holders. Another loss in 2013 of $1.6 million was Betfairs sixth loss in seven years of operation, taking the balance of losses to over $47 million since 2007. BUT, now James and Crown Resorts have decided to buy the remaining 50% of Betfair Australia to add to his Casino Empire.
I have gotta ask !! WHY……………………………. ???
Why would Packer want to take on the 100% loss of a company that has been operating so poorly for 7 years ? does he suddenly think he has more knowledge of the online Bookmaking and Exchange business than all the other operators in cyber world. Do they think they can do it better than the number one exchange operator in the World ? also remembering his last venture into the cyber world casino business was a dismal failure in Vanuatu resulting in a 10′s of million dollar loss. Now, if we are to believe the media reports that James wants to cash in on the $30 billion wagering market and start to push into the lucrative fixed odds arena with a low cost purchase of an online player, and with his huge cash reserves he could “gazump” smaller online players, as well as threaten the wagering operators Tatts Group, Tabcorp, William Hills, Ladbrokes, PaddyPower and Bet365. YEAH, that must be right, James wants to take on the biggest online wagering operators in the world and expects to succeed betting fixed odds.
Of course Crown has a huge data base of clients from Australia and all over the world and their media power can flood the brand into the already saturated gambling advertising realm and make some sort of impact. There is a slight problem with their Australian data base of clients, and that is they are and have been betting with the established bookies for the last 20 years, so to lure them to his inexperienced, not so new product may be a bit harder than anticipated.
I’m sure the Packer/Crown advisors are aware that the “Race Product Fees” on turnover which was adopted a few years ago by the entire Racing industry, is now up for revision, and the general consensus is that the “Fee” will all most certainly double to 3% or more. This was a easy decision for the 3 codes of Racing (thoroughbred, harness, greyhounds) all they did was have a look at the bulging profit margins of the big 3 corporate bookies, who now control 80% of all fixed odds betting turnover. Now, if you are a Betfair exchange user, you would have noticed the impact the base rate commission of 5% being raised to 6.5% had on the liquidity of the Australian Racing product across the board, now they will have no choice again, but to raise the Australian Racing Exchange products to a base rate of 8%. This most certainly will change the Australian Racing Exchange product into, solely a play ground for the professionals and BOTS and completely void of what the industry now hate to refer to as “mug money”. They are aware of this? They must be?
So, once again, I gotta ask……………………………………………….WHY ?
It may, or may not be obvious, that the one man (James Packer) and the one company (Crown Resorts) may be the power shift needed to implement what the last “Gambling Productivity Commission Report” recommended, that “Online Gaming” (Poker, Blackjack, Baccarat, Roulette, Virtual EGMS) and lotteries, Keno and Bingo all be approved and regulated. Mr Packer has always know that he will eventually have to bite the bullet and put his considerable weight behind the push for legalization of “Online Gaming” in Australia. And now the stars are align, he now owns 100% of the Australian arm of Betfair a considerable online world presence, his software is now state of the art and ready, the numbers now tell him that the estimated 0ne or two billion dollar leak by Australian citizens to over seas gaming operators has become large enough for him financially to get involved and most importantly he has the man in the big house at his beckon call for at least another 3 and a bit years. Mr Packer is acutely aware that the five big Corporate Bookies in Australia are all huge international organizations owned and controlled by overseas Board Rooms, and at the minute, Online Gaming becomes approved for operation all they need to do is flick a switch, and blink, there it is right in front of their Australian online facing clients. So now Mr Packer is all set at the starting blocks to push Online Gaming through the parliament and with that new legislation comes “In Run Betting” on sports, which gives a huge boost to exchange betting on sports which still has a base commission rate of 5%.
Now here is the punch. The “Australian Racing Exchange Product” receives no benefit at all from the legalization of online gaming in Australia, in fact when there are enough figures to analyse, I’m sure online gaming will detract from Race wagering over all. The 8% base commission Betfair Australia will be forced to charge on the bet side of their wagering will make the product in the greater amount of cases uncompetitive against the bookies offerings, and recreation betting liquidity will quickly dry up. But soon Betfair Australia/Crown Bet, will have a profitable and growing sports betting exchange, profitable online casino games in Blackjack, Baccarat, Roulette and the biggest money spinner of all the online games, Pokies/Slots. So, some how I don’t think an unprofitable Racing Exchange Product will list high on their priorities, when there are so many more RISK FREE products to concentrate on, which includes the highly profitable way of conducting business on the 3 Racing Codes that the foreign Corporate Bookmakers have brought to Australia.
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Betfairs Australian venture is so far a long way from delivering any profits to its share holders. Another loss in 2013 of $1.6 million was Betfairs sixth loss in seven years of operation, taking the balance of losses to over $47 million since 2007.
Does raise concerns,BF had 'put aside' the product fee(race product fee court case).Then they raised the Base Rate(commiss).
Then came the PC(prem charge) and the Balance Sheet still shows a Loss.
Why would Packer want to take on the 100% loss of a company that has been operating so poorly for 7 years ? does he suddenly think he has more knowledge of the online Bookmaking and Exchange business than all the other operators in cyber world.
Think that's self explanatory:Your a Journo, hes a businessman who makes mistakes and makes correct decisions(like all business owners)
Now, if we are to believe the media reports
Well that's you Mr Journo,do we believe you ? or are you following your creed :Never let the truth get in the way of a Good Story !!
as well as threaten the wagering operators Tatts Group, Tabcorp, William Hills, Ladbrokes, PaddyPower and Bet365. YEAH, that must be right, James wants to take on the biggest online wagering operators in the world and expects to succeed betting fixed odds.
To the Dullards that might seem sentence perfect but on closer inspection it has ZERO.Perhaps Mr Journo read it again, yes that's it you quote 6 companies, at what stage did any of the last 4 listed ever say 'Is there room for us'(vacant market share)?.Let's get a look at the last 4 companies Balance sheets since venturing to Oz,How are they going Mr Journo ?
There is a slight problem with their Australian data base of clients, and that is they are and have been betting with the established bookies for the last 20 years, so to lure them to his inexperienced, not so new product may be a bit harder than anticipated.
Mr Journo to keep your perceived status as 'well researched' we need to forget that you included this part.But here's one of plenty clues,the last 20 years bookies clients are on the decline (mainly baby boomers) and we are not the clients to take any establishment or bookie into the next phase, so that's totally misleading, the rest of your sentence is just miss match dribble.
This was a easy decision for the 3 codes of Racing (thoroughbred, harness, greyhounds) all they did was have a look at the bulging profit margins of the big 3 corporate bookies, who now control 80% of all fixed odds betting turnover. Now, if you are a Betfair exchange user, you would have noticed the impact the base rate commission of 5% being raised to 6.5% had on the liquidity of the Australian Racing product across the board, now they will have no choice again, but to raise the Australian Racing Exchange products to a base rate of 8%. This most certainly will change the Australian Racing Exchange product into, solely a play ground for the professionals and BOTS and completely void of what the industry now hate to refer to as “mug money”. They are aware of this? They must be?
Again even with my sub standard low IQ, this reeks of written by someone opposed rather than researched.Conclusions have just jumped to the only possible outcome based ONLY on what you have written. You are aware of this ? You must be?
Mr Packer is acutely aware that the five big Corporate Bookies in Australia are all huge international organizations owned and controlled by overseas Board Rooms,
Are the 5 big Corporate Bookies aware that Packer's companies are also International ?
Now here is the punch.
The para above that held partial credence but you speculate on what someone with increasing business Acumen might do.
So, once again, I gotta ask……………………………………………….WHY ?
Keep asking Mr Journo.At the same time i keep asking why do people continue to walk into a certain establishment when before they walk in they get told to hand over 15-17% of whatever amount they plan to bet with ?
So 5 to your perceived 8% seems a lot less than the 17% the others charge maybe it's the cost of the free fcukin Ginger Snaps they provide.!!
Re-reading the article showed so many flaws but that's for others to figure,still a good find Loggy.
For my 20 cents if it becomes no more then so be it, but until then put it on the shelf with H.G.Wells fiction and leave hysteria for those gullible enough.
Does raise concerns,BF had 'put aside' the product fee(race product fee court case).Then they raised the Base Rate(commiss).
Then came the PC(prem charge) and the Balance Sheet still shows a Loss.
Why would Packer want to take on the 100% loss of a company that has been operating so poorly for 7 years ? does he suddenly think he has more knowledge of the online Bookmaking and Exchange business than all the other operators in cyber world.
Think that's self explanatory:Your a Journo, hes a businessman who makes mistakes and makes correct decisions(like all business owners)
Now, if we are to believe the media reports
Well that's you Mr Journo,do we believe you ? or are you following your creed :Never let the truth get in the way of a Good Story !!
as well as threaten the wagering operators Tatts Group, Tabcorp, William Hills, Ladbrokes, PaddyPower and Bet365. YEAH, that must be right, James wants to take on the biggest online wagering operators in the world and expects to succeed betting fixed odds.
To the Dullards that might seem sentence perfect but on closer inspection it has ZERO.Perhaps Mr Journo read it again, yes that's it you quote 6 companies, at what stage did any of the last 4 listed ever say 'Is there room for us'(vacant market share)?.Let's get a look at the last 4 companies Balance sheets since venturing to Oz,How are they going Mr Journo ?
There is a slight problem with their Australian data base of clients, and that is they are and have been betting with the established bookies for the last 20 years, so to lure them to his inexperienced, not so new product may be a bit harder than anticipated.
Mr Journo to keep your perceived status as 'well researched' we need to forget that you included this part.But here's one of plenty clues,the last 20 years bookies clients are on the decline (mainly baby boomers) and we are not the clients to take any establishment or bookie into the next phase, so that's totally misleading, the rest of your sentence is just miss match dribble.
This was a easy decision for the 3 codes of Racing (thoroughbred, harness, greyhounds) all they did was have a look at the bulging profit margins of the big 3 corporate bookies, who now control 80% of all fixed odds betting turnover. Now, if you are a Betfair exchange user, you would have noticed the impact the base rate commission of 5% being raised to 6.5% had on the liquidity of the Australian Racing product across the board, now they will have no choice again, but to raise the Australian Racing Exchange products to a base rate of 8%. This most certainly will change the Australian Racing Exchange product into, solely a play ground for the professionals and BOTS and completely void of what the industry now hate to refer to as “mug money”. They are aware of this? They must be?
Again even with my sub standard low IQ, this reeks of written by someone opposed rather than researched.Conclusions have just jumped to the only possible outcome based ONLY on what you have written. You are aware of this ? You must be?
Mr Packer is acutely aware that the five big Corporate Bookies in Australia are all huge international organizations owned and controlled by overseas Board Rooms,
Are the 5 big Corporate Bookies aware that Packer's companies are also International ?
Now here is the punch.
The para above that held partial credence but you speculate on what someone with increasing business Acumen might do.
So, once again, I gotta ask……………………………………………….WHY ?
Keep asking Mr Journo.At the same time i keep asking why do people continue to walk into a certain establishment when before they walk in they get told to hand over 15-17% of whatever amount they plan to bet with ?
So 5 to your perceived 8% seems a lot less than the 17% the others charge maybe it's the cost of the free fcukin Ginger Snaps they provide.!!
Re-reading the article showed so many flaws but that's for others to figure,still a good find Loggy.
For my 20 cents if it becomes no more then so be it, but until then put it on the shelf with H.G.Wells fiction and leave hysteria for those gullible enough.
To summarise all that:
Packer is getting into Betfair for the sports betting, with a bit of online slots / casino gaming too.
The racing product fee will soon more or less double.
Packer is getting into Betfair for the sports betting, with a bit of online slots / casino gaming too.
The racing product fee will soon more or less double.
Who gives a feck about the racing? Plenty of options. In-play trading is what we don't have and desperately need, would you not happily sacrifice racing on BF for in-play sports?
rhine
So long as one of those options is a betting option to Lay
So long as one of those options is a betting option to Lay
I thought that was the biggest point of it all...................when casino games are legal, so will "in the run betting" be legal. that's what I got out of it anyways.
and since I don't bet races, I would love in run betting on sports.
eigth..........I don't think bookies clients have decline over the last 20 years that's for sure. in fact they have sky rocketed
and since I don't bet races, I would love in run betting on sports.
eigth..........I don't think bookies clients have decline over the last 20 years that's for sure. in fact they have sky rocketed
interesting read - Packer has Abbott in his pocket so must have changes to legislation mapped out, will be interesting to see what those changes are
eigthballs..............i hardly think the writer of the above article considers himself a journo, he calls himself The Grump on an obscure web site, dotheform.com.au - just an every day stiff like yourself voicing an observation.
Lol Loggy Stiff been the operative word
Still think he/she whoever has/had connections to some TAB only my opinion.
Still think he/she whoever has/had connections to some TAB only my opinion.
come on boys .. back to business .. fisticuffs lol ... ffs
(and thread title very amusing considering
)
https://au.news.yahoo.com/nsw/a/23224155/james-packer-and-david-gyngell-in-bondi-altercation/
James Packer and David Gyngell in Bondi altercation
Explosive photos are emerging of billionaire James Packer and former best man David Gyngell in a physical brawl outside Packer's multimillion-dollar home on Bondi Beach.
The photos show the pair throwing punches and eventually wrestling each other to the ground before being separated by men who appeared to be Packer's bodyguards.
Witnesses have reported that a flurry of profanities erupted as soon as the pair locked eyes and the following brawl left passers-by stunned.
Packer's life-long friendship with his former best man reportedly soured after he ended a seven-year marriage from his second wife, Erica, after Gyngell confronted him about it.
There are reports the photos of the physical altercation could be sold for as much as $200,000.
(and thread title very amusing considering
)https://au.news.yahoo.com/nsw/a/23224155/james-packer-and-david-gyngell-in-bondi-altercation/
James Packer and David Gyngell in Bondi altercation
Explosive photos are emerging of billionaire James Packer and former best man David Gyngell in a physical brawl outside Packer's multimillion-dollar home on Bondi Beach.
The photos show the pair throwing punches and eventually wrestling each other to the ground before being separated by men who appeared to be Packer's bodyguards.
Witnesses have reported that a flurry of profanities erupted as soon as the pair locked eyes and the following brawl left passers-by stunned.
Packer's life-long friendship with his former best man reportedly soured after he ended a seven-year marriage from his second wife, Erica, after Gyngell confronted him about it.
There are reports the photos of the physical altercation could be sold for as much as $200,000.
Granddad Frank liked a punch on too. His prefered venue, Flemington members on the lawn in Public view. Goes to show there human too. 
http://www.racingvictoria.net.au/news/rvl/n_Victorian_Race_Fields_Policy.aspx
Racing Victoria announces revised race field fees to be applied from 1 July, 2014
A scale of rates will also apply for all other betting types (non pari-mutuel bets), with a higher rate for premium race days. All other betting types will be charged the greater of, for:
Standard race meetings (440 meetings) – 1.5% of turnover or 15% of gross revenue
Meetings containing a Group or Listed race (45 meetings) – 2.0% of turnover or 20% of gross revenue
Premium Group 1 meetings (10 meetings) – 3.0% of turnover or 30% of gross revenue
Racing Victoria announces revised race field fees to be applied from 1 July, 2014
A scale of rates will also apply for all other betting types (non pari-mutuel bets), with a higher rate for premium race days. All other betting types will be charged the greater of, for:
Standard race meetings (440 meetings) – 1.5% of turnover or 15% of gross revenue
Meetings containing a Group or Listed race (45 meetings) – 2.0% of turnover or 20% of gross revenue
Premium Group 1 meetings (10 meetings) – 3.0% of turnover or 30% of gross revenue
pretty bizarre Castiron
This from BF less than a year ago:
RV recently announced that it would assess turnover for a betting exchange as "net customer winnings" rather than the aggregate of all bets taken on the "backers side" of the exchange. RV described it as a "more appropriate measure of the volume of customer transactions".
So last year RV understood, and now they don't?
As BHLL just posted it's the greater of turnover/revenue! And more strange because the statement mentions this:
Following a review of its Race Fields Policy, RV has determined that an enhanced model will be adopted which differentiates between traditional pari-mutuel (tote) betting and non pari-mutuel betting, such as fixed odds, exchange and derivative betting.
But it doesn't differentiate at all? Unless there's a piece missing, but it doesn't seem so.
God knows what happens from here.
You could argue it's no different from 2 years ago and BF said they are in it for the long haul and will deal with whatever it put in front of them.
The fact there are so many jurisdictions in this country, most with no idea about how to stimulate the wagering market - it's no wonder punters migrate to other products.
This from BF less than a year ago:
RV recently announced that it would assess turnover for a betting exchange as "net customer winnings" rather than the aggregate of all bets taken on the "backers side" of the exchange. RV described it as a "more appropriate measure of the volume of customer transactions".
So last year RV understood, and now they don't?
As BHLL just posted it's the greater of turnover/revenue! And more strange because the statement mentions this:
Following a review of its Race Fields Policy, RV has determined that an enhanced model will be adopted which differentiates between traditional pari-mutuel (tote) betting and non pari-mutuel betting, such as fixed odds, exchange and derivative betting.
But it doesn't differentiate at all? Unless there's a piece missing, but it doesn't seem so.
God knows what happens from here.
You could argue it's no different from 2 years ago and BF said they are in it for the long haul and will deal with whatever it put in front of them.
The fact there are so many jurisdictions in this country, most with no idea about how to stimulate the wagering market - it's no wonder punters migrate to other products.
So if a venue/state is running at loss for them, time for them just stop fielding on them
And we all said that 2 years ago Nick. I'm now at the point where I agree with you.
Joined: 10 Mar 03 | Topic/replies: 2,169 | Blogger: nickw's blog
So if a venue/state is running at loss for them, time for them just stop fielding on them
no they won't stop fielding on them, just raise the commission rate to a level that will make the racing exchange uncompetitive in the majority of cases.
So if a venue/state is running at loss for them, time for them just stop fielding on them
no they won't stop fielding on them, just raise the commission rate to a level that will make the racing exchange uncompetitive in the majority of cases.
i agree with many on here that Betfair should just not play ball
for the raceclubs 1.5% of something is a lot more than 3% of nothing, in my opinion
for the raceclubs 1.5% of something is a lot more than 3% of nothing, in my opinion
Look at what happened last time they rolled over. Everybody came on board.
They need to stop fielding markets on anything that is not viable. Punters need to stick to Betfair and concentrate on their markets, or take fixed odds wherever possible.
Sadly it is looking less like the case, but racing needs to see it needs Betfair, not the other way around.
They need to stop fielding markets on anything that is not viable. Punters need to stick to Betfair and concentrate on their markets, or take fixed odds wherever possible.
Sadly it is looking less like the case, but racing needs to see it needs Betfair, not the other way around.
Logroller
They will just keep getting screwed over
time to support the states that support them
They will just keep getting screwed over
time to support the states that support them
Racing bodies seem to think the only way to maintain revenue is raise the takeout rate. I guess they don't consider turnover/volume will go down.
The exchange will pay on gross profit I guess but 30% is getting a bit crazy
I agree though, they should stop fielding on the state with the worst fees and see how long it is before they are begging for them to come back
I agree though, they should stop fielding on the state with the worst fees and see how long it is before they are begging for them to come back
it is getting crazy
and none of it (the %) gets to rank & file players in the wonderful sport of horseracing
its all to pay for the excessive one-off lottery payouts to the Group winners
talk about the rich getting richer .. nothing but to bolster a reason to pay a million plus for a fkn baby ffs
the $20k purchaser would be happy to win a million dollar race .. not necessarily a $2 million race
but a million dollar buyer ... needs (us sucker % punters apparently) to pay for some of the ridiculous winning prizes
is ridiculous too harsh ... well compare our payouts to others around the world
i would be happier if the clubs put it ALL into the rank & file races ... from the bush to the coast
and none of it (the %) gets to rank & file players in the wonderful sport of horseracing
its all to pay for the excessive one-off lottery payouts to the Group winners
talk about the rich getting richer .. nothing but to bolster a reason to pay a million plus for a fkn baby ffs
the $20k purchaser would be happy to win a million dollar race .. not necessarily a $2 million race
but a million dollar buyer ... needs (us sucker % punters apparently) to pay for some of the ridiculous winning prizes
is ridiculous too harsh ... well compare our payouts to others around the world
i would be happier if the clubs put it ALL into the rank & file races ... from the bush to the coast
i hear ya Thebas - looking after the elite, screwing the little guy
the breeding industry .. which from certain chairmen down ... is designed to inflate the price of stallion services and "potential" payouts
those payouts might NOT eventuate .. but without dangling multi-million dollar payouts ... then NO sale ring would stand up with a million dollar yearling price ... re-fekn-dik-u-lus
.... (and womble nicely & 'not quite' politically put mate .. i appreciated that i hope you know
)
those payouts might NOT eventuate .. but without dangling multi-million dollar payouts ... then NO sale ring would stand up with a million dollar yearling price ... re-fekn-dik-u-lus
.... (and womble nicely & 'not quite' politically put mate .. i appreciated that i hope you know
)
i saw a stat about a month ago that showed it for the farce it is - something like 1 out of 150 or something million dollar yearlings went on to win that back on the track
they system is broken
i try Thebas, I try
they system is broken
i try Thebas, I try
not sure how many made the money back at stud or the sales but there are some very big bets being placed that have very little chance of winning
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