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You are here: Home / Archives for gambling

Why betting is growing in popularity among horse racing fans?

June 28, 2018 by Guest Author Leave a Comment

Why betting is growing in popularity among horse racing fans?

Online Betting has gained a lot of popularity recently among sports enthusiasts and Horse racing fans are no different in this regard. As of April 2016, horsing racing fans in US alone have placed bets worth $3.4 billion which was a 4% increase when compared to previous years. During the Kentucky Derby races in 2016, there was a total of $192.6 million spent on horse racing bets. Some of the popular online betting websites experienced a crash during that day.

According to ESPN Horse racing is one of the top sports in the UK and the US and the attendance numbers have increased steadily. Kentucky Derby, The Royal Ascot, Cheltenham Festival are some of the most followed events in United Kingdom. When the casinos popped all over the UK and the US, they scooped a lot of money from customers who were betting crazy on the races.  It was predicted by one of the sports clubs that wagering on horse races may increase by 25% during 2021. Before you go ahead with betting, you should understand the basics of horse racing and know how to evaluate the strength of various horse breeds. Based on statistical data, it is known that on average Favourites win the race 33.3% of the time and the remaining 66.7%, it is won by some other horses. You should also know how the horse has been prepared before the race and whether it is moving up the class, its previous track records etc. You should be careful not to bet on the overworked and overmedicated horses.

Betting on horse racing is legal in the US and is the only way to gamble online which definitely attracts all the newbie fans. In olden days, the bettors had to physically visit the track in order to place their bets as they will not know any details about the horses or the race tracks. But in modern days, you can view all the statistics of horse view the live race online by comfortably sitting in your home. This has definitely increased the popularly of online betting among horse racing fans. Online horse race betting is legal in most states of the US and also in the UK and many racetracks have their own digital betting sites. The online betting sites are user-friendly with simple and straightforward rules, excellent graphics, player chatrooms and also broadcast live feeds of races which makes it very attractive option for people who can’t travel to the actual race tracks. If you are residing in the UK and wish to bet online on horse racing events, www.bonus.co.uk is the best place for you.

Another reason why betting is increasing in popularity among horse racing fans is the increased payouts and possibilities of winning with the online betting sites. Players can gain access to detailed information about the jockey and horse trainers, the classes of the horses and its pictures and odds of winning. Some betting sites also offer online games like fantasy racing tournaments to attract newbies. In olden days generally only men above 50 who had experience and knowledge about horses were involved in betting, but with the advent of casual gambling sites, many youngsters below age of 40 have started to involve in horse race betting. Based on a survey by the Jockey Club, the average horse racing fans were 3 years younger than the average NFL fan and many were interested in online betting. This has caused many horse races to be conducted on smaller tracks and wagering increased by 1.2% over 2015. There is a lot of excitement and anticipation among newbies who have got addicted to online horse race betting. Also, the online viewership has increased with more fans enjoying the race online than people who visit the course to watch the race live. There are many horse racing events and festivals organized in the UK which attract horses from across Europe and this brings a lot of attention from bookmakers and online gamblers who try to make a lot of money by betting on their favourite horses.

Filed Under: Horse racing Tagged With: betting, bookmakers, gambling, horse racing, horse racing betting, horse racing events, horse racing uk, online betting

Horse Racing Fanatics Keeping UK’s Traditional Sport Alive

June 28, 2018 by Guest Author Leave a Comment

Horse Racing Fanatics Keeping UK’s Traditional Sport Alive

Horse racing is one of the traditional sports in the UK with its history dating back several centuries to the Roman Era. It also has the second largest number of spectators in the UK next only to football. The major horse racing events in the UK are the Cheltenham Festival and Royal Ascot which attracts more than 200,000 fans every year from across the globe. Also, it is watched by millions of horse racing fans across the globe. Horse racing is a major sport which generates more than 3.7 billion pounds in revenue for the British economy.

You can find many youngsters fiddling with their betting slips and old folks smoking their cigarettes in these crowded race tracks. A pinnacle of the horse racing season in the UK, the Cheltenham Festival alone attracts more than £1 billion revenue in gambling over the 26 horse races conducted over the 4 days of the event. This is a great time for bookmakers to make money and we can see a lot of horse racing facing fans going crazy and betting on their favourite horses. The bookmakers say that they make more businesses in these 4 days than they normally do in 3-4 weeks of the usual time. The horse racing festivals attracts the best horses from across Europe and it is one of the popular sports events in the UK.

Though the horse racing viewership has seen a decline in last few years, it has again picked up momentum, thanks to the online betting sites which attract youngsters and newbies into the business. Another popular event which attracts even more viewers is the Royal Ascot which is a thoroughbred horse racing event conducted for 5 days at Ascot Racecourse in Berkshire, England. Royal Ascot 2018 was a high-profile, iconic event with world-class racing mixed with high fashion and loads of entertainment which started with a huge crowd on 19 June.

This event is attended by the British Queen and other members of the Royal family including Prince Philip. The event hosts six high-class races and various tournaments including the Commonwealth Cup, the Gold Cup and Group One Diamond Jubilee stakes and attracts more than 300,000 horse racing fans. The total prize money is a whopping £6.5 million for the winning horses and several bookmakers like William Hill are sponsors for this iconic horse racing event.

Many gamblers also have turned their attention towards horse race betting in online casinos. Recently an industry-wide initiative was launched to boost the popularity of horse racing in the UK which was titled as “Racing for Change”. This initiative focused on enhanced marketing and promotions, reduction in the entry fee for younger adults to racecourses and also simplification of racing schedules. Horse racing is facing tough competition from other sports like football and cricket which attracts more youngsters.

The gambling companies mention that 15 years ago horse race betting accounted for 90% of the overall gambling business in the UK, but it has declined a lot in last few years and fallen back to around 60%. The traditional bookmakers like William Hill are also concerned about the rise in taxes and impact of exchanges which has reduced their business. Still, the hard-core horse racing fans are trying hard to keep the traditional sport live by attending all the events live and betting on their favourite horses.

With more than 60 licensed race courses in the UK, hundreds of racing events conducted every year and millions of fans from across the world, the multi-billion-pound horse racing industry may not die anytime soon. Also, youngsters feel it’s more fun to wager on horses using the online betting sites and they like to watch the live streaming online rather than visiting the racecourse. The number of horses participating in the races, the number of events and the prize money is also increasing every year which is bringing in more viewers.

Filed Under: Horse racing Tagged With: betting, casinos, football, gambling, horse racing, sport, wagers

How to make betting on the Flat pay

April 23, 2018 by William Kedjanyi Leave a Comment

How to make betting on the Flat pay

Ah, April. It brings a glut of top jumping action that all readers here absolutely adore, and we’ve still got Punchestown to go. But after that, and Sandown’s Finale day, the best racing in the British Isles turns to the Flat. Some of you might put the wallet away, and some may focus on the summer jumpers, but if you’re going to attack the Flat all summer, here are five pointers to make it pay.

Find your speciality

Just as there are many areas that punters will love during the jumps, there are equivalents on the Flat. You have tests of speed and stamina, and races that will inevitably suit one horse over another. A very effective way to make life easier for yourself is to find what sort of contests you find easiest to analyse and then focus on those.

Many Flat bettors will focus only on group/graded races, whilst some will also focus only the lucrative number of handicaps through the season. Just as with jump races, there are many different ratings bands – right from 0-50 to the very best Heritage Handicaps – and finding which category of handicaps can be a route to success as well.

Knowing your time of year is important. April and the early parts of may can be nightmarish for favourite backers with a whole host of reasons for top rated horses to under perform, but in strongly run races with fully fit field the cream can rise to the crop.

Know your trainers

Aidan O’Brien broke the world record for Group 1 winners trained in a calendar year in 2017, a remarkable achievement to add to so many for the Tipperary handler. However much of that success came through the summer and autumn and for many years O’Brien has used the early part of the season to get his best horses fit and use plenty of sighters before the classics. His current strike rate through the last two weeks is 14% (8 wins from 29 runners).

Charlie Appleby, meanwhile, has eight winners from his last 17 runners in the same period, including the winners of the Nell Gwyn and Craven Stakes. The Moulton handler has become very adept at starting the season well and given that many of his horses shipped to Dubai, thus escaping what was a very bad winter in Europe. Identifying trainers and their key target points – Mark Johnston at Glorious Goodwood is another – can be a very profitable source of winners through the season.

Follow the pace

The draw is a crucial part of Flat racing, but the large majority of races, especially handicaps which offer lucrative betting opportunities, will be heavily influenced by the pace of the race. Straight tracks such as Newbury, Ascot and Goodwood have many handicaps where the pace is likely to play just as big, if not more of a part, than the ground and this can also account for top level sprints too.

Use the data and tools

There has never been more data, tools and  information available and much of it for free in racing. Now using it wisely is important, but data that one needed to gather painstakingly over hours of study is now available at the click of a button. A good example of this is timing, which can not only tell you how fast a race was run, but when and which horse individually was quickest.

There are several resources for clock-watchers now but don’t limit yourself to timings with ratings services such as Racing Tracker available for those who want encyclopaedic knowledge at their fingertips.

A number of tools can help you work out your potential winnings including a Lucky 15 bet calculator.

Think about distances

The trip is always a crucial factor in racing – regardless of what discipline – and even the shortest changes can make all the difference. Look particularly for non-staying millers who drop down in trip, especially amongst the three-year-old generation who now have the Commonwealth Cup as a Royal Ascot target. This applies for all sorts of races too – Derby trial form can often be turned around when horses take a step up in trip and you can find value angles for stayers as well.

 

Filed Under: Betting Tagged With: betting, flat racing, gambling, guide, how to bet, online gambling

Popular roulette variations you should know about

August 2, 2017 by Guest Author Leave a Comment

Popular roulette variations you should know about

Roulette, whether played online or offline, works quite differently than the horse races such as Cheltenham- which you can read about here https://jpfestival.com/cheltenham-festival-2018/ . You’re essentially playing against the house and the house has to carry enough money to cover any bet that you place – whether you win a few hundred or hundreds of thousands dollars. In case of pooled horse race betting, all the money collected from various punters is gathered in a pool; the house then takes its rake/cut and the remaining amount is what the punters stand to win. Horse racing is very similar to how lottery works – you don’t bet against the house but against the other people who’ve also placed bets; the house simply functions as a bookkeeper and takes a healthy percentage for all that work.

Having talked about how horseracing and online/offline roulette are different from each other, let’s look at some popular variations of roulette. In fact, if you’re in Canada, you can try all the best variations of roulette at https://ca.allslotscasino.com/.

The French roulette

You’ll find French roulette at almost every casino on the internet and you can read about its origins at https://en.wikipedia.org/wiki/Roulette. This online roulette game is a must-try for any roulette lover. It works differently from the original version in the manner that it features one more box on the table – the 0 box, which gives you an additional option to bet on. Technically, it improves your odds of winning. However, this additional box also makes it difficult for you to make the correct selection, as you have too many options now! But majority of players treat the additional box as more of an advantage than being a downfall.

The American roulette

The Americans have always pushed things up a notch! And they did the same with roulette. While there’s an extra option in the form of a 0 box in French roulette, the American version provides you with one more box in the form of a 00! Interestingly, some people argue that it wasn’t the Americans who added 00 to the roulette wheel – it was all the time there in the European casinos until the single 0 roulette wheels became a rage in the Monte Carlo casinos.

Apparently, the 00 wheel got plenty of action in the US and according to http://www.tmz.com,  hence got the name American roulette! All the basic rules of the game stay the same; the only difference is 2 additional betting options in the form of 0 and 00 boxes.

Other significant roulette variations

Many regional roulette variations popped up over a period of time, and online casinos have been very creative in providing modern and exciting twists to this conventional casino game. You can play ‘Mini Roulette,’ which only features 13 numbered pockets, from 1 to 12 and a single 0, with the same betting principles. This version of roulette works well for people who don’t like so many numbers in the regular roulette game.

There are many online casinos that house franchise-themed roulette games inspired from Hollywood blockbusters – a trend which can be very well seen in case of Marvel Roulette, a game full of action packed graphics, special bonus rounds and the possibility to win huge Marvel mystery jackpot!

Check out different online casinos for various roulette variations; you may be in for a pleasant surprise!

Filed Under: Roulette Tagged With: casino, gambling, roulette

How to Spot a Winning Race Horse

July 25, 2017 by Guest Author Leave a Comment

How to Spot a Winning Race Horse

Sadly, it is virtually impossible to predict the exact outcome of any race. However, based on certain facts and probability, you can make an educated guess regarding where any horse might finish. In fact – it is possible to generate a steady income just by knowing where to place your money for an optimum return.

Placing a bet in horse racing is comparable to predicting the rise and fall of stocks and shares. If you are hoping to get the best tips then you should look into learning how to read and understand the form of a horse. If you can do this, then you can compare the form to any other horses in the race. Learning how to read the form of a horse is a lengthy process, and if you don’t have all the time in the world there are a few things that you can do to make a good choice quickly.

Learn How to Study a Race Card:

The first and most important thing is to study the race card. The easiest thing to do is take a look at the horses form figures. The figures are displayed to the left of the horse’s name. If these figures are consistently 1, 2, or 3 then it is fairly safe to assume the horse performs well at every outing.

You might also take the horse’s and the jockey’s weight into account.  The higher on the card a horse is listed indicates how heavy it is in relation to the other entrees and the further down the card, the lighter the horse and jockey, (including the saddle). Although this is a good indicator, it can’t be fully relied on as usually the better performing horses typically carry more weight. Obviously this can be quite confusing, but it makes the race fairer – the winner can claim his prize safe in the knowledge that none of his competitors had any physical disadvantage.

What Are the Bookmakers Predicting?

Before making any definite choices about who to back, take a look at what the bookmakers are predicting. The professionals often have inside knowledge, and using this knowledge to obtain racing tips is possibly one of the wisest decisions to make.

Don’t forget to take the odds into consideration to optimise the best return. It might be more beneficial for you to place your money on a horse to come in each way rather than putting your money on the predicted winner. Remember – if the greater the odds the greater the risk.

Consider Ground Conditions:

Ground conditions are one of the most important factors that are taken into consideration in horse racing, for each horse will have strengths and weaknesses.

Some horses can run quicker on firmer ground than they can soft, although if it is too hard it could potentially cause problems. Equally, if the ground is soft it could favour an alternative entry.

The ground conditions are something every trainer will take into contemplate before allowing their horse to race. It is one of the final things to be considered before the race begins.

If you know the abilities of the horse you are backing, then you will be able to make a decision based on the ground conditions on the day. If this is something you take into account then it would be best to place your money on your chosen horse just before the race, rather than far in advance.

Who Trains the Horse? Who Will Be Riding?

Don’t forget to do your homework on the horse’s trainer and jockey. The more successful they are, the greater the chances of winning.

Consider how long the horse has been trained by its trainer and make sure you take his maturity into account. Listen to what the trainer has to say about the horses form – prior to any big race trainers usually provide the media with information concerning the horses’ current state.

The jockey is as important as the horse in many cases, in fact, some professional followers back horses because they are being ridden by certain J=jockeys.

Find out if any given jockey has been paired with a horse before, and how that pairing paid off. If they have raced previously it is likely they will be familiar with each other’s capabilities and be able to achieve a better result.

What Is the Horses History at the Track/Meeting?

Has the horse ran at the race course before? If the horse is used to the curves and straights of a particular course they will likely run better. The more comfortable they are with their surroundings the better!

Some horses are consistent winners at certain meetings, and in certain races find out what horses these are? They will be worth taking into consideration!

In Conclusion…

These ‘easier’ methods of choosing a horse might prove to be fruitful initially but they don’t always work.

There are those who choose to place their money based on their instincts alone, leaving everything to chance. For example, last year whilst indulging in hospitality delivered through one of the luxurious Royal Ascot packages, a bet was made concerning a horse named Ardad. The horse was chosen for his name alone, and with odds of 20-1 he was unlikely to provide his backer with a return. However, he shocked everyone that day and won the Windsor Castle Stakes!

Although using your instincts can occasionally prove to be fruitful it is rare, so the general advice would be, that you do indulge in a little research, it could be more likely to pay off.

The best way of knowing how to place your bet, to achieve consistent results, is to do your homework, and learn how to study the form.

Good luck!

Filed Under: Betting, Gambling Tagged With: betting, gambling, winners

5 different types of Horse Racing bets you can make

October 27, 2016 by Jonathan Pollinger Leave a Comment

5 different types of Horse Racing bets you can make

After pouring over the form and considering the whispers, it’s time to grab the best value so it’s worth taking a look at five different types of horse racing bets you can make. Bookmakers are the obvious and traditional choice while racegoers will be very familiar with the Tote. Spread betting offers a high risk/reward option and betting exchanges allow you to request prices from other members.

Matched betting, a system you can read about at https://www.matchedbets.com, offers a risk free way to bet on horse racing. Here are some brief pros and cons to each one.

Bookmaker
Off-course bookmakers give you the choice of fixed odds at the time of placing your bet or the starting price of your selection at the off. There are lots of bookmakers operating in a very competitive online market and you can use odds comparisons sites to find the best available odds then click through to place your bet.
There are added incentives offered by off-course bookmakers such as best odds guarantees and consolations for beaten horses which can work in your favour by increasing value in the long run. On-course bookmakers don’t provide as many options but due to the way off-course display prices are calculated, you can often find better prices at the track.

Tote
On-course pool betting puts everyone’s money into one pot, taxes and house take are removed leaving the remainder of the pool to be shared among those who backed the winner. The Tote often pays out bigger dividends than the bookmakers’ fixed odds but it’s difficult to predict as one big bet at the off can drastically change the forecasted returns you see displayed on the screens around the track. Tote betting can be rewarding if you like to go against the market and you’re not a high-roller, who can choke the returns on their own sometimes.

Betting Exchange
Two great things about betting exchanges is you can ask for any odds you want and you can also act as a bookie and lay a selection you don’t fancy. In the past, exchanges made a big deal of prices being 20% higher than available with bookmakers but this wasn’t really the case after taking their commission into account. Markets are also reliant on liquidity, the amount of money available to back or lay, so while there is often great value to be found there are no guarantees to get all your money on.

Matched betting
Matched betting is a risk-free way to make money betting, using bookmaker free bets and bonuses to guarantee a profit. It involves laying off at an exchange to ensure the qualifying bet costs nothing or next to nothing and using the same technique to turn the free bet into a profit. Matched bettors usually earn £20 from every £25 free bet.
It’s a great way to make money betting on horse racing but it won’t make you rich. It’s easy to earn around £500 per month for about 30 minutes a day, so it is better suited to racing enthusiasts who bet small amounts or for someone looking for a little boost in their regular income.

Spread betting
Spread betting was borne out of city financial trading and offers an unusual and potentially high risk way to bet on horse racing. Instead of being offered odds, you’re offered a ‘spread’ on the performance of each horse in a race which you can choose to buy or sell. If you buy the spread, you’re backing the horse to perform badly and on it to perform well if you decide to sell. You’ll bet an amount per point for the performance to be above or below the spread, so the more right you are, the more you will win and the more you are wrong, the more you’ll lose. The uncertainty of how much you’ll win or lose adds to the excitement of the bet but it pays to make sure you are comfortable with the worst possible outcome or you could find yourself in difficulty.

Filed Under: Betting Tagged With: bets, betting, bookies, bookmakers, gambling, horserace betting

Trouble getting a bet on horses? Here’s why

September 19, 2013 by Geoff Banks 1 Comment

Trouble getting a bet on horses? Here’s why

Not easy getting a bet on horses these days. You hear it everywhere. Forums, papers even telly. Bookmakers roundly criticised for offering inflated odds on horses, then laying them to derisory amounts. It rather sticks in my throat to be in any way associated to such behaviour. I mean I came from a father who epitomised fearless in laying – often standing in the back lines at tracks he would dominate the far more cautious firms at the front. I took over that business some 20 years ago now, and I’ve tried to distance myself from restrictions and £10 bets. But this isn’t about me. Is the criticism levelled at modern day bookies justified? If you’ll indulge, I shall try to put this difficult subject into context. Bear in mind there are broadly 3 different arms of the industry involved here. Exchanges, large bookmaking ‘chains’, and independents. One of the things that strikes me about the complaints is they’re rarely levelled at exchanges. To my mind they’ve always been the smart ones. By investing heavily in marketing and advertising, you sanitise your product from some of the more important critics, such as journalists. Don’t bite the hand that feeds, even if it lives under a rock. Yet they often claim the moral high ground. Good job there lads. You see, the deal with exchanges is simple. First off most punters are small, and don’t wager more than £20 in a bet. Second, it’s accepted you can’t get a place bet on the same. I don’t see an exchange offering an each way bet. Third, not easy to blame the exchange for what is often pitiful liquidity levels, when you’re supposed to pony up and add to the ‘lays column’ is it? That aside, the effect of exchanges on British Racing margins cannot be overstated. Obscenely they govern the on course bookmakers, many of whom have turned into arbers, playing exchange odds off against what punters will take. Low liquidity is ridiculously easy to manipulate. If you’re trying to get 10 – 20 thousand or more on a horse, simply feed in a relative low amount into the lay side and watch it drift as bots and the ill-informed react. Alternatively, pick a random ‘gambling stables’ no hope 33/1 chance, pop a grand or two on it and watch it collapse to 9/2. In the meantime, you’re favoured selection drift from evens to 2/1. Your 20 grand profit becomes 40, for an investment of 1. It’s a childishly simple example. Surely it’s not that easy you say? Oh but it is. Plus if you have the second in the market ‘squared away’, in knowledge or integrity terms, you’re flying. It’s not just the track which obeys the pennies on exchanges these days. It’s the off track ‘odds compilers’ at the large bookmaking chains. And here’s their sub plot. Go onto LinkedIn, type in ‘Corals’ or ‘William Hill’ and you’ll be met by picture after picture of guys in their 20’s – fresh faced out of school, describing themselves as ‘traders’ or ‘odds compilers’. It’s a grand term, or used to be. In my time, such individuals would spend years working hefty on course markets, working figures and percentages. Or perhaps work their way into the trading room after due time in the trenches answering phones. But in an environment which puts so much stock in exchange movements, all these spotties really do these days is monitor the price movements on their screens and shave their odds appropriately. Same as most racecourse clerks do. Neither group are particularly skilled. I accept some may have an inflated view of their abilities. That comes with youth. In this game, experience counts for everything and they bring little of that to the table. Policies such as these have led to large concerns being assaulted by a new two new breeds of punter. Arbers – very much the same as many track bookies, and those putting ‘job’ monies on for the connected. Both groups, in a world of odds which are more often than not both unrealistic and manipulated, are extremely difficult to beat. As a consequence they’re restricted. By extension this has a knock on effect for the less ‘professional punter’. An accident of circumstances I suppose. Similarly if you spend your time following certain tipping lines, backing shorteners, betting mainly on the inflated morning odds markets, backing each way when the favourite is odds on or happening to back the same selections as per say Patrick Veitch, you’ll find your half-life as a punter with such firms shortened dramatically, along with what you can get on. It’s also important to understand the world of Ralph Topping. In his time, boardmarker to boss, he’s witnessed William Hill turn from a traditional bookmaker to a casino operator. This is a key point. Let’s call a spade a spade here – were I king Ralph, as things stand, I’d do exactly the same as he’s doing. You see the oil in the machine is precisely that. The machines. Large chains have engorged themselves on legislation permitting them to site shops anywhere and that growth remains unchecked. Witness the recent case in London against Paddy Power, brought by a Newham Council who argued they had piles of shops already in the region and that the shops were merely a vehicle for their Fixed Odds Betting Terminals. FOBTs. The case was quashed on the grounds there’s no law against serial proliferation of betting shops. Let me be honest here, Newham was right in my opinion. They didn’t need the shop, nor its machines. This situation is true in many of our towns. But Paddy won the day, arguing they made a ‘positive contribution to High Streets’. Of course that’s nonsensical hyperbole. Essentially though Newham hadn’t proved their argument and were kicked out. Each FOBT generates a gross profit of circa £900 a week for such firms – and they can have 4 in every shop. That’s £3600 in gross profit a week. Add in a ‘manager’ who gives out the change, a cashier, and a rolling ‘relief manager’ and you’ve a very low staff cost, maintenance and risk business. Providing that is you don’t get too involved in the poor margin horse racing product. This is where leaders such as Paul Bittar are so blinkered in their view that more racing equals more levy. A childishly simple claim, and one with no data to support it. The reality is quite the opposite. A punter has a fixed amount to spend. More racing won’t make him draw out more money. The machines claw for his cash, and they’re clearly addictive. When the racing is competitive, it becomes the draw.If it’s low grade 5 runner races on offer, they become the background rather than the vehicle that pulls people into the shop to start with. The BHA is far too tight in with the bookmaking-exchange fraternity to be healthy. Ostriches see a little more. Am I a little unfair to the new Chief Exec? I don’t believe so. Within a month of his arrival he had thrown his hat into the ring with big business and declared 1450 as the right ‘level’ for Racing. Was that an informed decision based on hard data he hadn’t been provided with by the way, or just towing the establishment line? I’ll let you decide on that one. There isn’t a third option, except for the PR merchants from the chains. I haven’t mentioned the casino side of most modern day bookmaker or exchange businesses. These super profitable products yield enormous profits. Why focus your attention on the 4.05 at Plumpton and the risks involved, when you can push your customers to bet on the areas of your business you absolutely know represent a no-lose situation. To boot there’s been a substantial market share war going on between the large concerns over the last 3 years. It’s routine for the morning price market for a feature race on a Saturday to be actually overbroke between the majors. The King George at Ascot ran to 89% at best odds available. This represents a net loss to racing of 11% in real terms. Will such top of the market offers make it more likely you’ll get your £100 each way wager? Evidently not. Of course the whole margin debate is pretty much a nonsense these days, except perhaps for Bruce Millington who majors on the 9.30 at Wolverhampton. So many horses effectively priced out of events; we never saw horses going off at 400/1 in the sixties and seventies. One of the major issues affecting the laying of bets is the integrity of the sport. The bottom line is, the lower the prize fund available, the more likely the integrity of the event will be affected. The great scandals in racing of late can be directly attributed to serial failures at the BHA who should insist on a strong, well-funded and staffed integrity division. In fact in a period where there’s more racing than ever before, the integrity division at the BHA has had its budgets slashed. Being kind it’s poor management, but I lean towards a dereliction of their responsibilities to police the sport. The key phrase ‘shut the stable door after the horse has bolted’ wouldn’t be out of place here. All the spin in the world from Mr Bittar cannot hide the fact it’s grossly understaffed and most certainly lacking in the experience necessary to break down the vital betting markets. In fact, in a bizarre twist of fate, it’s Betfair who highlight most of the scandals perpetrated on its own exchange, but then only when amounts are excessive. Hong Kong has 238 people tasked with maintaining the integrity of its programme, which races 6 days a month. Here with 1450 fixtures we have less than 20 including those running around testing horses and the like. The numbers don’t stack up. It’s time to get proper with integrity, and not just when Channel 4 ask the questions on doping. Non-triers and ‘explosive last to first’ gambles have become the accepted norm. Why? How does it affect your punting dollar? Will it be easier or fairer to bet when people in the industry don’t trust the ‘lesser’ events? One smaller factor to consider is the time delay. On course traders react swiftly to volatile exchanges in proffering odds. However, the actual shows fed into betting shops will reflect those movements by anything between 1-2 minutes later, and may be made up by some trader betting to a sixth of the odds on the place book. This creates a clear arbing situation of betting shows vs exchange odds. Don’t forget the modern day punter is armed with super fast broadband links to exchanges – they know the reality and can gain significant advantage over the bookmaker in the High Street. How do these points relate to how much you can get on? Well you have to understand what you’re betting on; racing is up against the other products a bookie is offering. Sure if you do your nuts you can call your own tune with any bookie. That’s obvious. But if they don’t know you – and you just have a lucky run? Well I’m afraid the outlook is dim. Let’s encapsulate racing in this simple equation: Exchange – On Course Traders – Delayed shows to LBO’s + Glut of Racing = Low margin out of date product open to serial manipulation v Fixed Odds Betting Terminals and casino products. The last cog in the wheel are the independents. They’re either shop based, or running telephone and internet operations such as my own at geoff-banks.com. Many do not possess the vital casino products, nor are they able to operate relief manager situations to rotate their staffing and keep costs down. They shoulder increased share of costs such as taxation and Gambling Commission fees and they’re competing with offshore low cost firms to boot. Smaller firms tend to rely much more heavily on their racing product. As a result they’re struggling to remain competitive with set down by firms who are reluctant to lay much more than an egg at those paper odds. Does it really matter if they survive, any more than does it matter if the on course market does? I’ve heard the argument for natural selection in business. And I fundamentally disagree. In my view, it’s an unhealthy situation. Big business is getting bigger, they’re paying less taxes than small business and most certainly giving a vastly inferior standard of service. Who hasn’t sat on a phone line to speak to a world weary operator with little training or the ability affect change to improve the lot of the customer they are serving? Decisions are made at boardroom level by ‘executives’ who won’t have to sit waiting to be served by the individuals they employ. They’re in no way into ‘customer facing’ or ‘customer focussed’ initiatives. They’re about money. The internet has most certainly improved many areas of our lives. But unchecked it spells the death knell for many businesses we used to take for granted which are the very fabric of the decent society we grew up in. I’m one of life’s survivors – I lay a fair bet. My boys answer a call within two rings, or answer a textbet within a minute. But businesses like my own are in the minority. The bottom line is: the larger the firm, the worse its service standards. But they’re cheap. They offer deals and money back offers and price guarantees. If you want real change in the service you receive, including how much you get on – you have to accept such standards involve you being prepared to take slightly less in return for a more civil way to bet. It’s a choice. Want an exchange price? Accept it’s only going to be to their stakes. Not a lot these days. Ryanair aren’t British Airways, and they treat their customers with a disdain that’s breathtaking. But they’re cheap. They lead on low cost travel without frills or service standards or conduct codes respected by rivals. So are Paddy Power, Bet365 and William Hill. If you believe in SP guarantees, money back if your horse falls and so forth, all well and good and they will happily accommodate you to lower stakes. It’s simple, you cannot offer the top of everyone’s market and lay whoppers. So bet away with the offshores but expect to pay for it elsewhere.

Filed Under: Betting Tagged With: betting industry, casino, exchanges, FOBTs, gambling, Geoff Banks

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