Racing Association Slams Bookmakers

RACING ASSOCIATION SLAMS BOOKMAKERS - RA WEBSITE



The press release issued by the Gauteng, KZN and Western Cape bookmaker associations on 9 September 2014, containing details of notices issued to a number of regulatory bodies and including a legal opinion asserting that certain totalisator bets offered by Phumelela, Gold Circle and Kenilworth Racing are unlawful, refers.

These totalisator bets contributed R10 million and R5 million respectively to Gold Circle and Kenilworth Racing's profits in 2013, all of which were re-invested into funding the sport of horse-racing.

These bets contributed R80 million to Phumelela's profits after allocating R13 million directly to horse-racing prize monies ("stakes"). The direct contribution from these bets into stakes comprise no less than 15% of total stakes paid by Phumelela in 2014.

The Thoroughbred Trust, a body which represents the interests of horse owners and government, receives 35% of all dividends paid by Phumelela. The Trust ploughs back all of these monies into promoting the sport of horse-racing and spends more than 50% of its annual income on transformation initiatives within the sport. In the financial year ending 31 July 2013 this amounted to R18 million. Phumelela’s horse racing operations are loss making and if it weren’t for the contribution made by totalisator bets on sports other than horse racing no such dividends would be received by the Trust and ploughed back into the sport.

The notices issued by the 3 bookmaker associations are a disingenuous attempt to cause financial harm to the 3 racing operators. It further intends to cause harm to stakes and the funding of horse-racing, the sport upon which they, when it suits them, contend they depend on for their livelihood.

It is time for bookmakers who love the sport to distance themselves from the notices issued by the 3 bookmaker associations.

It is time for Owners, Trainers, Punters and all other persons who love the sport of horse-racing to distance themselves from people who serve only their own interests and do so at the expense of the sport of horse-racing and others. If your bookmaker does not distance him/herself from this initiative and refuses to contribute fairly and proportionally with the Tote towards the funding of the sport you should strongly consider placing your future bets with the Tote.

All they have done is add a paragraph

From the Bettingworld ( bookmaker owned by the operators) press release

This I would class as bullying of the highest order

If your bookmaker does not distance him/herself from this initiative and refuses to contribute fairly and proportionally with the Tote towards the funding of the sport you should strongly consider placing your future bets with the Tote.

LOL

Ask not what the RA does for you but what you can do for the RA.

What a load of shite. The same people who prevented me from watching the Dubai Carnival, the 1000 Guineas and the Grand National to mention just a few now want my rands.

Fuck off !

Bookmakers give nothing to the game - it's a disgrace that they won't pay their share of costs but more turnover than the tote and continue to pirate the picture - disgusting!

No one else gives anything from profits so why should the bookies ?

They pay the same as Betting world , yes it's from the punter but so us every penny that phumelela hands over

If the punter wants to use a bookie so be it, if he wants to use the tote so be it

There was bookies before there was Phumelela and the RA

Bigbrass wrote: Bookmakers give nothing to the game - it's a disgrace that they won't pay their share of costs but more turnover than the tote and continue to pirate the picture - disgusting!

You say you are an "ex-bookmaker"
Did you sell your licence on moral grounds ?
It's good to see that you not bitter

I don't disagree with you Bob, the punter has the right to choose but why must the tote pick up 90% of all the costs to put on the show when bookmakers benefit the most?

Bigbrass wrote: I don't disagree with you Bob, the punter has the right to choose but why must the tote pick up 90% of all the costs to put on the show when bookmakers benefit the most?

Big brass i don't want to argue pal

The totes job is to provide for racing, always was

Big Brass, why does the tote need to keep 25% of our money?

Richie77 wrote: Big Brass, why does the tote need to keep 25% of our money?

Because our money is all they have

Who pays for racing in the UK, certainly not the tote, the bookmakers do, why, because they making the most money? No harm in asking to play fair!

@richie - if they don't take the 25%, then who's going to pay all the costs? I read somewhere that the tote pay 700 million and bookmakers 70 million (or something like that) yet bookmakers do more turnover than the tote? So if this is true, surely bookmakers should pay proportionately?