tag:blogger.com,1999:blog-8560898823512627114.post4967386553599273904..comments2024-02-01T00:37:24.768-05:00Comments on PTP: Betfair & TVG - A Big Opportunity for RacingPull the Pockethttp://www.blogger.com/profile/05082676049275768769noreply@blogger.comBlogger14125tag:blogger.com,1999:blog-8560898823512627114.post-11126825692867410132009-01-28T13:52:00.000-05:002009-01-28T13:52:00.000-05:00One other thing - Betfair is one of the biggest ra...One other thing - Betfair is one of the biggest racing sponsors in the UK and Australia, pumping in money on top of the 'low' purse provision. <BR/><BR/>Recent article re their deal with Ascot - http://www.telegraph.co.uk/sport/horseracing/3546281/Betfair-in-five-year-deal-to-sponsor-King-George-Horse-Racing.htmlScotthttps://www.blogger.com/profile/15580349973739747085noreply@blogger.comtag:blogger.com,1999:blog-8560898823512627114.post-1110046693254982002009-01-28T13:48:00.000-05:002009-01-28T13:48:00.000-05:00I hope everyone in racing reads that link. I will ...I hope everyone in racing reads that link. I will post it later. <BR/><BR/>A 30% increase in handles in 2008, resulting in an increase in purses, whereas we are getting our asses kicked in the same year, proves beyond any reasonable doubt that lowering prices to punters and offering them choice is long overdue.Pull the Pockethttps://www.blogger.com/profile/05082676049275768769noreply@blogger.comtag:blogger.com,1999:blog-8560898823512627114.post-83361133838024428672009-01-28T13:47:00.000-05:002009-01-28T13:47:00.000-05:00Thank you sir.Thank you sir.Wind Gathererhttps://www.blogger.com/profile/08374251665158760423noreply@blogger.comtag:blogger.com,1999:blog-8560898823512627114.post-63506065509737920092009-01-28T13:46:00.000-05:002009-01-28T13:46:00.000-05:00The most important thing is to understand that onl...The most important thing is to understand that only having a local audience will not grow your business. Betfair customers have added something like 30% to TasTote pools - http://www.themercury.com.au/article/2008/10/31/35645_tasmania-news.html<BR/><BR/>A wider audience means more punters. More punters (bettors) mean more money in the pools. More money in the pools brings in more punters again as then the pools will stand up to a decent bet, and so the cycle continues.<BR/><BR/>US racing is popular on Betfair but it is severely affected by the inconsistency of pictures. Live stream it, link to the pools, bring the takeout down to say 12%, innovate with a few new bet types and you will see one heck of a kickstart to a business previously in decline.Scotthttps://www.blogger.com/profile/15580349973739747085noreply@blogger.comtag:blogger.com,1999:blog-8560898823512627114.post-38098485453858231232009-01-28T13:41:00.000-05:002009-01-28T13:41:00.000-05:00PS: Yes, that means that $6 out of every $100 bet ...PS: Yes, that means that $6 out of every $100 bet goes to purses. In teh UK, Australia etc it is more like $1 or $2. <BR/><BR/>Of course, they bet much more and compared to us they have a popular industry there, where people watch and enjoy racing. We can not have it both ways. We cant expect to take all the bettors money and have a popular industry. Why we think so is beyond me. Bettors have proven over the last dozen years that racing will not simply be a receptacle for their wallets and hard earned money.Pull the Pockethttps://www.blogger.com/profile/05082676049275768769noreply@blogger.comtag:blogger.com,1999:blog-8560898823512627114.post-71302701219405965682009-01-28T13:38:00.000-05:002009-01-28T13:38:00.000-05:00Try this:http://cristblog.drf.com/crist/2008/02/gl...Try this:<BR/><BR/>http://cristblog.drf.com/crist/2008/02/global-perspect.html<BR/><BR/>It shows in all parts of the world what percentage of take goes to purses. Notice the rest of the world takes between 1 and 2%, while we take 6%.<BR/><BR/>Check average handle per resident. We are at $48, Great Britain well over $300, as other places. Handles in Australia, which is about 15X smaller than here are $10B versus $14B here.<BR/><BR/>Racing must learn that the rest of the world are not the ones doing things wrong, we are.Pull the Pockethttps://www.blogger.com/profile/05082676049275768769noreply@blogger.comtag:blogger.com,1999:blog-8560898823512627114.post-13702175940069778382009-01-28T13:25:00.000-05:002009-01-28T13:25:00.000-05:00OK. I am an idiot and it is seriously pissing me o...OK. I am an idiot and it is seriously pissing me off.<BR/><BR/>What percent of what are we talking about? If $100 is bet and takeout is 20%, who gets what from what?<BR/><BR/>Is the 6% taken from the 20% or is it 6% of the original $100? <BR/><BR/>How is the takeout split? I really have no idea.Wind Gathererhttps://www.blogger.com/profile/08374251665158760423noreply@blogger.comtag:blogger.com,1999:blog-8560898823512627114.post-37762106619222547302009-01-28T11:59:00.000-05:002009-01-28T11:59:00.000-05:00Mme R,1% is placed into purses in the UK overall a...Mme R,<BR/><BR/>1% is placed into purses in the UK overall as per the Jockey Club Fact Book. But they bet more. We put in 6% but bet less. If BF drove 800% more wagering and placed in 1% instead of 6% of what we do, we'd have more money for purses.<BR/><BR/>Regardless, this is not exchange betting in the US; so it is a moot point. It is someone who knows how to run a gambling business buying an ADW. That's a good thing for us all, imo. We need to expand our fan base and grow handles. What is good for the customer is good for the business, because the customers fund the business.<BR/><BR/>PTPPull the Pockethttps://www.blogger.com/profile/05082676049275768769noreply@blogger.comtag:blogger.com,1999:blog-8560898823512627114.post-15553317387417904402009-01-28T10:39:00.000-05:002009-01-28T10:39:00.000-05:00This is a great day for gamblers and a sad day for...This is a great day for gamblers and a sad day for horse people. Byron, it's nice of you to ask the touching question of what pool the money will to into, but you are under the mistaken impression that Betfair actually supports the industry. In the U.K., they put back 1 percent. That's right, 1 percent. And THAT's not nearly enough to keep the horse industry going. But hat's off to the gamblers - enjoy it while there are still real horses around to be on, because it won't last long.G. Rarickhttps://www.blogger.com/profile/07796528877225352947noreply@blogger.comtag:blogger.com,1999:blog-8560898823512627114.post-40097102944691045052009-01-28T02:34:00.000-05:002009-01-28T02:34:00.000-05:00Past history isn't that relevant - they've never h...Past history isn't that relevant - they've never had contol of the monopoly, they've just been one of the competing firms. Takeout has to go lower, any fool can work out turnover goes up with lower taxation. The Australian betting landscape is now far healthier because Betfair stirred it up and forced the monopoly totes to face up to competition. Now there's more interest in betting than there has ever been. They're not stupid, they won't slash the returns and kill off the golden goose at the same time.<BR/><BR/>US race betting from the UK has been split between firms betting into tote pools and the betting exchange. Betfair have never linked into the pools (it's a totally different format they operate), however they now bet into UK and Australian tote pools (customers have the choice of tote or exchange) as well bringing two million potential customers to the table.<BR/><BR/>UK punters will use the tote pool, but not exclusively. Where they will really get involved is the exotics, where you can't take fixed prices.Scotthttps://www.blogger.com/profile/15580349973739747085noreply@blogger.comtag:blogger.com,1999:blog-8560898823512627114.post-10382164033487363842009-01-28T02:11:00.000-05:002009-01-28T02:11:00.000-05:00The question that has to be asked is how much of t...The question that has to be asked is how much of the turnover are they going to give back to horsemen/owners? Based on what they have done in Europe and now Australia, it is not enough to sustain the cost of racing / prizemoney.<BR/><BR/>Also, if a European punter bets on the Kentucky Derby does the money go into the American pool and some of the money returned to the horsemen/owners in America or does it stay in Europe?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8560898823512627114.post-45086488104308681192009-01-28T01:37:00.000-05:002009-01-28T01:37:00.000-05:00US racing has been shown on the UK racing networks...US racing has been shown on the UK racing networks for a while now, but the coverage is very inconsistent. The east coast meets overlap with the later races in the UK, and then when there is evening racing in the UK (throughout the summer plus Wed-Sat over winter), that takes priority.<BR/><BR/>Also, the better tracks used to be on a subscription channel, meaning less viewers. I'd imagine Betfair would go down the line of live streaming rather than heavily supporting a network in the UK, but you never know.<BR/><BR/>Re the education dept, they've made cutbacks so I can't see that happening anytime soon, but I'm always available for hire...Scotthttps://www.blogger.com/profile/15580349973739747085noreply@blogger.comtag:blogger.com,1999:blog-8560898823512627114.post-46165969098220703032009-01-28T01:30:00.000-05:002009-01-28T01:30:00.000-05:00Hey Scott,If you check back, and since you worked ...Hey Scott,<BR/><BR/>If you check back, and since you worked for Betfair in the education dept, can you let us know what they might plan on doing to educate international players about US racing? Can you see evening racing being a hit at betfair there with TV coverage a la TVG in the UK?<BR/><BR/>Thanks. <BR/><BR/>Sure is an exciting time for racing. It is a very insular sport over here. Nice to see some intl expansion.<BR/><BR/>PTPPull the Pockethttps://www.blogger.com/profile/05082676049275768769noreply@blogger.comtag:blogger.com,1999:blog-8560898823512627114.post-86698831093915881342009-01-28T00:37:00.000-05:002009-01-28T00:37:00.000-05:00Not sure if they'd offer rebates per se - my tip i...Not sure if they'd offer rebates per se - my tip is they'll slash the takeout percentages instead so everyone benefits from it. The other thing they'll most likely do is stream their vision abroad to stir up up the pools. This is a landmark event for the North American racing industry.Scotthttps://www.blogger.com/profile/15580349973739747085noreply@blogger.com