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Don’t forget the SP system also affects anyone betting at best odds guarantee ie nearly everyone. If you backed STFD at 8-1 in the morning you might have got 9-1 under BOG if the system wasn’t bent.
It was said Saturday that 40% of National bets were done at SP, although I guess this would not equate to 40% of the money bet. Just because the casual punter does not understand value, this does not make it right to rip them off, morally anyway, as the bookies were doing nothing illegal that day. Graham Cunningham brought this up on The Morning Line and he was not a happy man as to how the Bookies had behaved that day, as this goes on year in year out in The National. He suggested that for the National only, bets struck should be done at the Price at that given time, and SP should only be given if stipulated by the punter. I thought this was a good idea. The bookie he was interviewing, although not discounting the idea verbally, was obviously thinking “No way, this is my licence to print money”
What Mr Hughes said – we are talking about a once a year betting public who the rest of the time buy Lottery tickets and go to Gala Bingo etc.
All the bookies are doing is controlling the price of the product they sell these people.
Sorry for not caring but I don’t – the general public sees Betfair advertised almost every day on TV where there is an exchange where the over-round was sub 105 per cent.
If they can’t be bothered to use it I can’t be bothered that they got 6/1 about a horse that was twice the price and the rest on the exchange.
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It's the "Millwall FC" of Point broadcasts: "No One Likes Us - We Don't Care"Aintree ought to take some responsibility – the bookies are their suppliers. A bit daft warning off photographers and remaining silent while their suppliers rip the customers off.
It really wouldn’t make a difference to the once a year punter if they were told. I see people buying coffee and expensive sandwich’s day in day out and they must know it’s cheaper to make their own sandwich but they chose to buy the fancy one with skinny filling so why the hell they would care about the price of their once a year selection was?
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You put things so much better than I do, Mr Hughes – exactly that!
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It's the "Millwall FC" of Point broadcasts: "No One Likes Us - We Don't Care"It really wouldn’t make a difference to the once a year punter if they were told. I see people buying coffee and expensive sandwich’s day in day out and they must know it’s cheaper to make their own sandwich but they chose to buy the fancy one with skinny filling so why the hell they would care about the price of their once a year selection was?
The once a year punter issue is a red herring.
That is missing the point as most of the media have.
For all races, average over-rounds per runner was 1.74 in 2013
The 2015 GN over-round per runner was lower than that average but a bit on the high side for past GNs. The real issue was that the SP for horses were not returned according to bookmakers prices on the course. If the 6/1 SP horse had won, they would not have been paid at the truer SP price of 9/1, The issue was that they would have been seriously cheated whether they knew the right price or not. Racing is trying to get more customers in, not to cheat them and scare them off for good. The whole point of the SPRC is to ensure integrity and that people whatever their knowledge of racing are not cheated on any bet.
What is really at issue is that the whole purpose of the SPRC is to ensure that the returned price accurately reflects the price available on-course at the off. Over-rounds are nothing to do with SPRC.“Purpose (of SPRC)
The Starting Price Regulatory Commission (SPRC) is an independent body responsible for the integrity of the starting price (SP). The majority of bets on British horseracing struck with bookmakers in betting shops and other off-course outlets are paid out according to the SP. The job of the Commission is to ensure that the returned price accurately reflects the price available on-course at the off.”
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