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* guardian.co.uk, Wednesday 28 April 2010 20.30 BST
Ascot Races
Bookmakers who offered decimal odds at Ascot, above, claimed they took far fewer bets than they did at the corresponsing meeting last year.
Racing's experiment with decimal odds appears to be over after just one day. There were reports of a dramatic slump in business from all five of the bookmakers here yesterday who agreed to show their prices as decimals rather than the traditional fractions, despite the presence of a large crowd attracted by the offer of free entry.
"It's been horrendous," said Barry Johnson, betting at the far end of the grandstand. "I wanted to take part in it because hopefully it was going to be good. But we've had a number of queries today and they've all been about how we convert the decimal prices into the odds that are shown on other boards."
Johnson appeared surprisingly cheerful, despite having taken just 119 bets by the seventh race, compared to the 2,000 he would hope to take on a good day. He had so much time on his hands, he explained, that he had decided to have a bet himself and it had won.
"So I'm now £160 up on the day and that just about covers the expenses. Which, considering the number of bets we've taken, is remarkable. But that's only because I happened to get my pin out and pick a horse, because I had nothing else to do.
"I think it's been a really good experiment to take part in and I'm pleased I've sacrificed a day to do it. But I wouldn't wish to take part in any more trials."
Johnson and his colleagues feel strongly that punters were baffled by the unfamiliar decimals and chose instead to bet with the many other bookies who stuck with the familiar fractions. That is hardly the response that was hoped for by Racing For Change, the body set up last year to broaden the sport's appeal. This experiment was one of the first 10 initiatives announced by RFC in January, and the one which attracted by far the most publicity.
"The feedback we're getting from the customers is that they're struggling to understand what our prices represent," said Geoff Banks, betting on the rails.
"In the second race, for example, the favourite was 13-8 everywhere. I went 1.75 [a better price, the equivalent of 7-4] and I kept that for six or seven minutes no particular interest.
"So then I said to my colleague next door, you go 7-4 with the fractionals and see what happens. He took six bets immediately and I took one."
Banks estimated that offering decimals had cost him 30% of his business yesterday. That was at least a happier position than Martyn of Leicester, who took "about 20% of what I would normally take", despite having the fifth-best pitch in the ring.
Nigel Roddis, betting director of RFC, seemed abashed and would not commit to running a second trial. "One of the key parts of this is the bookmakers themselves," he said. "It's their businesses out there and we've got to be careful about playing around with people's businesses.
"As an experiment, it's gone well. It's worked and the biggest fear in starting something like this is that it doesn't work. We've got feedback and I'm going to go and get some market research later. We'll take that away, look at it and see where we go."
The results of that research will not be available for two weeks. However, it seems that today's other experiment, letting people in for free, can be filed under "unqualified success".
Ascot welcomed 19,215 people through its gates, more than double the attendance on the same day last year. They included first-timers from places as distant as Salisbury and Southampton, as well as a local 75-year-old man who was making his first visit for 30 years.
A random sample of 100 racegoers was subjected to rigorous questioning by RFC, in an attempt to understand what would make them come back.
It is to be hoped that the process itself has not put them off.
Ascot Races
Bookmakers who offered decimal odds at Ascot, above, claimed they took far fewer bets than they did at the corresponsing meeting last year.
Racing's experiment with decimal odds appears to be over after just one day. There were reports of a dramatic slump in business from all five of the bookmakers here yesterday who agreed to show their prices as decimals rather than the traditional fractions, despite the presence of a large crowd attracted by the offer of free entry.
"It's been horrendous," said Barry Johnson, betting at the far end of the grandstand. "I wanted to take part in it because hopefully it was going to be good. But we've had a number of queries today and they've all been about how we convert the decimal prices into the odds that are shown on other boards."
Johnson appeared surprisingly cheerful, despite having taken just 119 bets by the seventh race, compared to the 2,000 he would hope to take on a good day. He had so much time on his hands, he explained, that he had decided to have a bet himself and it had won.
"So I'm now £160 up on the day and that just about covers the expenses. Which, considering the number of bets we've taken, is remarkable. But that's only because I happened to get my pin out and pick a horse, because I had nothing else to do.
"I think it's been a really good experiment to take part in and I'm pleased I've sacrificed a day to do it. But I wouldn't wish to take part in any more trials."
Johnson and his colleagues feel strongly that punters were baffled by the unfamiliar decimals and chose instead to bet with the many other bookies who stuck with the familiar fractions. That is hardly the response that was hoped for by Racing For Change, the body set up last year to broaden the sport's appeal. This experiment was one of the first 10 initiatives announced by RFC in January, and the one which attracted by far the most publicity.
"The feedback we're getting from the customers is that they're struggling to understand what our prices represent," said Geoff Banks, betting on the rails.
"In the second race, for example, the favourite was 13-8 everywhere. I went 1.75 [a better price, the equivalent of 7-4] and I kept that for six or seven minutes no particular interest.
"So then I said to my colleague next door, you go 7-4 with the fractionals and see what happens. He took six bets immediately and I took one."
Banks estimated that offering decimals had cost him 30% of his business yesterday. That was at least a happier position than Martyn of Leicester, who took "about 20% of what I would normally take", despite having the fifth-best pitch in the ring.
Nigel Roddis, betting director of RFC, seemed abashed and would not commit to running a second trial. "One of the key parts of this is the bookmakers themselves," he said. "It's their businesses out there and we've got to be careful about playing around with people's businesses.
"As an experiment, it's gone well. It's worked and the biggest fear in starting something like this is that it doesn't work. We've got feedback and I'm going to go and get some market research later. We'll take that away, look at it and see where we go."
The results of that research will not be available for two weeks. However, it seems that today's other experiment, letting people in for free, can be filed under "unqualified success".
Ascot welcomed 19,215 people through its gates, more than double the attendance on the same day last year. They included first-timers from places as distant as Salisbury and Southampton, as well as a local 75-year-old man who was making his first visit for 30 years.
A random sample of 100 racegoers was subjected to rigorous questioning by RFC, in an attempt to understand what would make them come back.
It is to be hoped that the process itself has not put them off.
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Replies: 15
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Hoped the process hasnt put them off,wait while they get among the p"ssheads on a normal Saturday then ask em again
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Imagine when Britain went decimal and half the shops went with the new coinage and the other half stayed with the old. Both shops sold the same items for the same price, who would get the most trade? I'd say the shop using the old system. People don't like change but they have got to move with the times. We are catering for old farts and I fear it will take another 30 years to get this sport up to where it should be now.
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Decimal odds will come in whether punters like it or not,
it's what the high street chains want and it's what they'll have in the end ! |
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Info - if the high street chains want decimal pricing so much why don't they just do it? There's nothing stopping them.
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The same as 100/8 became 12/1..
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The layers tried decimal fraction odds (9/5, 11/5 etc) for a couple of days in February 1971 but soon reverted to the old odds when turnover was shown to be down. The only change that remained was that the disapearance of the 100 to fractions between 6 and 9. No surprise there.
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the crowd figures from yesterday show that the cost of going racing is stopping people from going
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Nail on the head,GAZO.
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The experiences of those bookmakers offering decimal odds just goes to show that there a lot of innumerate people out there.I've often had people come up to me and ask something like 'What's the best odds mate,11/4 or 100/30?'If all bookmakers were offering decimal odds it would presumably be of some assistance to these people.
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Please tell me they are not using 1.75 for 7/4. Different from the Tote system???? FFS get a grip people.
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the cost of racing doesn't stop people flocking to Chester which has to be the most over priced racecourse in the country. it's about marketing succesfully. aintree on thurs/fri for example seems to get busier each year and the cost of entry has gone through the roof in the last ten years.
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13/8 looks a better price than 1.75 end of it dont matter how numerate you might be
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walofs seems the only reasoned response to all of this.
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Butchos123 29 Apr 11:21
Please tell me they are not using 1.75 for 7/4. Different from the Tote system???? FFS get a grip people. EXACTLY what i thought! If i saw 1.75 i'd be be wondering why a 7/4 shot is odds on! |
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If i wanted a 'fractions' bet with a decimal booky yesterday, would i have got on?
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