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Betfred End Sponsorship

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  • #1318379
    KenhKenh
    Participant
    • Total Posts 739
    #1318384
    Bachelors HallBachelors Hall
    Participant
    • Total Posts 1279

    I wasn’t even aware that Betfred sponsored any of those major races lol…

    Good riddance and may all the others follow suit.

    Quite why the BHA doesn’t just revoke all media rights for privately owned bookmakers and form a non-profit PMU and exchange is beyond me. Works well enough for prize money in France, Japan, Hong Kong etc

    #1318402
    yeatsyeats
    Participant
    • Total Posts 2902

    Good riddance and may all the others follow suit.

    Quite why the BHA doesn’t just revoke all media rights for privately owned bookmakers and form a non-profit PMU and exchange is beyond me. Works well enough for prize money in France, Japan, Hong Kong etc

    Ditto

    #1318403
    LostSoldier3
    Blocked
    • Total Posts 1894

    Good luck with that project, BH. :wacko:

    Strange timing from Dr. Done as Betfred have been running their ’50 Years of Betfred’ campaign in the last fortnight. All that crowing about their ‘unity’ with racing in the RP, on ATR and on their own YouTube channel looks a bit daft now.

    Unless a commercial or in-house alternative springs up to replace the old Tote on the racecourses, can the sport stand to lose this income? £6m is just the sponsorship revenue – imagine how much rake is being lost from the Tote takeouts. The BHA were buzzing about comparatively small new sources of income earlier in the year and saying the new funds would make a huge difference to prize money. By that logic, will this news not leave an enormous hole in the budget? :unsure:

    #1318406
    Running ReinRunning Rein
    Participant
    • Total Posts 185

    Good luck with that project, BH. :wacko:

    Strange timing from Dr. Done as Betfred have been running their ’50 Years of Betfred’ campaign in the last fortnight. All that crowing about their ‘unity’ with racing in the RP, on ATR and on their own YouTube channel looks a bit daft now.

    Unless a commercial or in-house alternative springs up to replace the old Tote on the racecourses, can the sport stand to lose this income? £6m is just the sponsorship revenue – imagine how much rake is being lost from the Tote takeouts. The BHA were buzzing about comparatively small new sources of income earlier in the year and saying the new funds would make a huge difference to prize money. By that logic, will this news not leave an enormous hole in the budget? :unsure:

    My understanding, although I stand to be corrected, is that Betfred is leaving specifically because ‘a commercial in-house alternative is springing up to replace the Tote’.

    This deal was always one where parties were never truly honest about their motives. It was a retail shop grab by Betfred who were never truly interested in the on course operation.
    The industry wanted the cash from the sale, knowing it was a finite licensing period that would not be renewed.

    F Done is upset about this but he had his own priorities and he pretty much got what he wanted himself.

    #1318407
    GingertipsterGingertipster
    Participant
    • Total Posts 26565

    Good riddance and may all the others follow suit.

    Quite why the BHA doesn’t just revoke all media rights for privately owned bookmakers and form a non-profit PMU and exchange is beyond me. Works well enough for prize money in France, Japan, Hong Kong etc

    Ditto

    “Works well in France”. :wacko:
    Nobody goes racing over there! :negative:

    So you’re both in favour of punters being shafted?

    Over-rounds were always bad enough with The Tote. But judged on alternative “in house” on course pool betting already in operation – Fred Done’s replacement will work to a far greater over-round. It’s going to be a whole lot worse for the punter… Yet another reason for horse racing fans not to go racing.

    value is everything
    #1318424
    yeatsyeats
    Participant
    • Total Posts 2902

    “Works well in France”. :wacko:
    Nobody goes racing over there! :negative:

    So you’re both in favour of punters being shafted?

    Over-rounds were always bad enough with The Tote. But judged on alternative “in house” on course pool betting already in operation – Fred Done’s replacement will work to a far greater over-round. It’s going to be a whole lot worse for the punter… Yet another reason for horse racing fans not to go racing.)

    )

    If it works well in France and people don’t go racing it should work even better here, where plenty do go.

    Bookmakers do nothing but shaft punters now.

    Fred Done has already put the win deduction up twice in his tenure of the Tote and his absence will have no effect on attendance. ChesterBet rip punters off every meeting and is still rammed.

    Most racecourses don’t deserve proper racing fans in any case, their only interest is The Mighty Dollar. We see regular examples of that.

    #1318448
    kingbenitch
    Participant
    • Total Posts 138

    Major mistake was not letting the racing authorities take over the tote and, as someone’s suggested, run it like the PMU. Might do the high street and back street catering establishments some good as well.

    #1318661
    GingertipsterGingertipster
    Participant
    • Total Posts 26565

    It is still possible for Racing to gain an unofficial monopoly betting company.

    Now the Tote monopoly of pool betting has come to an end it needs a racing benefactor/s to set up a pool betting operation and let it be known that once they’ve got their costs back the company will be given to “Racing”. With a percentage over-round that’s so low punters will flock to it and bookmakers find it impossible to make an accurate enough book to compete. A Take out that’s not fixed at a certain percentage all the time but instead increases with number of runners. Must be good enough computers around these days able to work out a mark up of around 0.6666666% per horse. Working to:

    101.33% 2 runners
    102.00% 3 runners
    102.67% 4
    103.33% 5
    104.00% 6
    104.67% 7
    105.33% 8
    106.00% 9
    106.67% 10
    107.33% 11
    108.00% 12
    108.67% 13
    109.33% 14
    110.00% 15
    110.67% 16
    111.33% 17
    112.00% 18
    112.67% 19
    113.33% 20
    114.00% 21+

    value is everything
    #1318663
    yeatsyeats
    Participant
    • Total Posts 2902

    It is still possible for Racing to gain an unofficial monopoly betting company.

    Now the Tote monopoly of pool betting has come to an end it needs a racing benefactor/s to set up a pool betting operation and let it be known that once they’ve got their costs back the company will be given to “Racing”. With a percentage over-round that’s so low punters will flock to it and bookmakers find it impossible to make an accurate enough book to compete. A Take out that’s not fixed at a certain percentage all the time but instead increases with number of runners. Must be good enough computers around these days able to work out a mark up of around 0.6666666% per horse. Working to:

    101.33% 2 runners
    102.00% 3 runners
    102.67% 4
    103.33% 5
    104.00% 6
    104.67% 7
    105.33% 8
    106.00% 9
    106.67% 10
    107.33% 11
    108.00% 12
    108.67% 13
    109.33% 14
    110.00% 15
    110.67% 16
    111.33% 17
    112.00% 18
    112.67% 19
    113.33% 20
    114.00% 21+

    You need to do a bit of research Gingertipster, it’s all done and dusted who are taking over.

    I’m afraid I don’t have high hopes. Everything to do with horse racing in this country is to do with greed, no reason to believe that will change. Rip customers off whether they be punters or racegoers seems to be the motto.

    #1318668
    GingertipsterGingertipster
    Participant
    • Total Posts 26565

    Aware the on course stuff had been sorted.
    Wasn’t aware off course had; but am not a subscriber to Racing Post so it’s possible am out of touch with this sort of thing, Yeats. :good:

    value is everything
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