…HKJC executive director of racing Bill Nader [previously with the New York Racing Association] came up with a statistic on Sunday.
For the racing season in the United States to December 31, total betting turnover amounted to around HKD 84 billion.
The last Hong Kong season [to July 2011} showed a total of HKD 80.4 billion in turnover and, on current indications, will comfortably exceed that in 2011-12, in what will be the first time in history that turnover here has surpassed the US over a season, even looking back to the golden days of pre-handover racing.
Of course, the wow aspect has more to do with the fact that Hong Kong will surpass the American total in 767 local races, while the US required more than 46,000 races in 2011 to get to that figure.
This just doesn’t compute. Surely if you put on more races then turnover goes up by the same proportion, at least that’s what Peter Savill said.
Just think what HK could achieve if they cut down on some of their ridiculous costs, like sectional timing and weighing horses, and started to exponentially increases their racing programme. Thie turnover would be in the trillions not billions.