Skip to main content

Horseracing must face commercial reality

While this article specifically refers to racing in the UK, there aren't many racing jurisdictions in the world that these issues don't apply to. From Global Betting and Gaming Consultants...

UK Horseracing Must Face Commercial Reality

Selected quotes


As we have said before the horse racing industry has wasted money, not allocated resource where it will deliver the best return and has not committed funds to reserves.

Now we have the recession. This one is called the Great Recession and it is causing business to really think about the way it operates and is creating efficiencies previously not considered. A recession exposes faulty business models and those who have not been prudent during the boom are being tested.

We are now in a period where the niceties of life have to be placed on one side. We are beyond politics now; it is the time when all sides have to be unfailingly realistic.

.
.
The problem is that racing many years ago started to believe its own PR that the product was infallible and that everyone would pay regardless of price.

.
.
Horseracing the world over is in decline. Most of us came into gambling because of horseracing. It is sad to see where it used to be as a betting product to where it is today.


Racing all over the world is full of people who live and bleed for horses, full of stubborn people, full of people who think they are more important than they really are and full of people from a bygone era. If it was a major publicly-listed company, do we really think it would be run the same way? Horse racing is losing its market share by the day, and realistically, it isn't going to get it back. If the business models continue in the forlorn dream that it can regain lost ground, then it's going to get messy...

Comments

Popular posts from this blog

It's all gone Pete Tong at Betfair!

The Christmas Hurdle from Leopardstown, a good Grade 2 race during the holiday period. But now it will go into history as the race which brought Betfair down. Over £21m at odds of 29 available on Voler La Vedette in-running - that's a potential liability of over £500m. You might think that's a bit suspicious, something's fishy, especially with the horse starting at a Betfair SP of 2.96. Well, this wasn't a horse being stopped by a jockey either - the bloody horse won! Look at what was matched at 29. Split that in half and multiply by 28 for the actual liability for the layer(s). (Matched amounts always shown as double the backers' stake, never counts the layers' risk). There's no way a Betfair client would have £600m+ in their account. Maybe £20 or even £50m from the massive syndicates who regard(ed) Betfair as safer than any bank, but not £600m. So the error has to be something technical. However, rumour has it, a helpdesk reply (not gospel, natur

lay the field - my favourite racing strategy

Dabbling with laying the field in-running at various prices today, not just one price, but several in the same race. Got several matched in the previous race at Brighton, then this race came along at Nottingham. Such a long straight at Nottingham makes punters often over-react and think the finish line is closer than it actually is. As you can see by the number of bets matched, there was plenty of volatility in this in-play market. It's rare you'll get a complete wipe-out with one horse getting matched at all levels, but it can happen, so don't give yourself too much risk...

The Melbourne Cup preview 2022

A competitive edition of the Melbourne Cup without being a great one. The La Nina weather cycle has made a mess of sporting events down the east coast in recent weeks and Flemington has not escaped that. It did race very well on Saturday considering the conditions, so fingers crossed that continues. At this stage it seems like the track will be Soft 7/Heavy 8 - rain is forecast, hopefully not enough for the track to deteriorate but also not warm or windy enough for proper drying weather as you'd normally see on the sand profile track.  There are only two international visitors in the field, Deauville Legend and Without A Fight, while another pair, Camorra and Hoo Ya Mal, will make their local debuts having been purchased for Australian syndicates. So the local moaners get their 'mostly locals' race. I think I'd prefer higher class myself but hey... Slightly different format this year, enjoy reading, bet responsibly, yada yada yada... ------------------------------------