Former ATC chair David Hall's oral evidence continues here:
https://t.co/5QLfk00egh
but expands on his views on powers of @Racing_NSW from his written submission to the parliamentary committee (date July 3)
@RNSWStewards
Interesting ride by Nash on Kokoro.
Horse has never led, yet here he's head n head with designated leader over 1400 in race run around 10L above to 600.
No COT either, but even if there was, there's zero justification for the ride
Our PRA's get a chance to look into the future in Europe/UK currently. Only problem being our tax structures are even more overwhelming for operators, which is passed directly onto punters already, creating higher probability of problem gambling & stifling turnover. You raise market %, you escalate issues. You push people to black market options, the industry gets nothing. We are going to need Dr Emmett Brown, 1.21 Gigawatts and a Delorean to fix things soon if they are not handled in a manner that encourages healthy turnover. A level playing field where punters get a fair go and operators and the industry can all continue to thrive sustainably.
Because racing for political reasons has distanced itself from it’s lifeblood, gambling. People can gamble from home without publicly announcing how sinful they are, or at the pub with fellow sinners. The whole Raceday experience completely lost its way. There is no co-ordinated marketing campaign that clearly identifies who they are targeting to go the track. The racetrack used to be a hive of BETTING ACTIVITY. Those marketing the racetrack experience find this reality distasteful, so it became about the horse or the star jockeys or the party atmosphere. Those things are an important ingredient but they will always be completely secondary to the main thing going on, which is gambling. The crowds in the UK are huge on their big days, with hundreds of bookies and punters actually trying TO WIN! Here we spend all our time and effort making sure any potential punters know they are going to lose and promoting it as a “fun hobby.” It’s insane. No sane person is going to pay the entrance fee, the absurd prices for food and drink and be freezing cold, to invest some loose change on the ponies. If you are only investing loose change with no real expectation of winning, why wouldn’t you do that from home and save yourself the $100 expense? You are already contextually miles in front. The only way to get people back to the track is make it a vibrant and stimulating gambling environment, where people have an expectation they CAN win and whereby going to the track INCREASES that likelihood. But there is no understanding of that amongst administrators and no will to do it for fear of being seen to promote gambling. (The exact enterprise that pays for the whole show 🤷♂️)
(sigh) basic economics. Men’s WC generates $6-7bil. Prize money = 6-7%. Women’s WC generates $130-150mil. Prize money = 20ish%. You can only pay players what the sport can afford. Stop it
🏇 The average Sydney & Melbourne Saturday race market percentages:
*⃣ 2021 - Half 1 = 116.1%
*⃣ 2021 - H2 = 116.4%
*⃣ 2022 - H1 = 116.8%
*⃣ 2022 - H2 = 117.9%
*⃣ 2023 - H1 = 118.6%
The 2023 figure of 118.6% doesn't paint the full picture:
▶️Jan to March = 118.1%
▶️Apr to June = 119.1%
We are now in an era where 50% of Saturday Metro races in Sydney & Melbourne have an SP >119%
Remember that more than ever now, the percentage decreases notably in the last few minutes of trading. Most of the trading time, it's a few points above these figures.
Percentages are being driven up as wagering providers try to manage the impact of POC tax increases and race program restructuring to create more days where race field fee rules allow PRA's to charge higher rates.
It doesn't matter that most punters may not be price sensitive. Simple maths says they will lose their money faster, becoming more prevalent if/when bonus bets/money-back incentives reduce. The result will mean players participate less often, and more become lost forever.
As the impact continues to get washed out in reduced turnover, racing will play victim to various causes outside its control. It will almost certainly fail to acknowledge that its policy decisions over several years to consistently increase the cost of the game has played a significant role in reducing the activity of revenue-generating customers.
Two from three at Pakenham tonight. For free Vic focussed racing analysis, join the free just keep punting group by downloading the free Telegram app and join using this link https://t.co/MpSD4KOfCc