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<br>Aragorn,
Don’t know about empty boxes, but there’s no shortage of runners despite the ever increasing number of fixtures.
Wallace,
Fair enough, but if bumpers are primarily designed to educate horses, prize money is presumably a bonus rather than a primary concern.
AP, what I mean is if there are spare boxes and they double the prize money, why would you expect the fees to double? The trainers get a cut of that pie anyway. Top trainers, yes, I guess the prices may rise due to demand and limited space but otherwise I can;t see it myself..
<br>Aragorn,
Perhaps fees wouldn’t double, but that’s what ‘O’ level economics says should happen, especially if the increase in prize money happened overnight, rather than as a gradual process.
It isn’t just training fees that would rise – riding fees, entry fees, vets bills, feed, bedding, transport and the prices at the sales to buy horses in the first place.
Training isn’t exactly an example of a competitive market – if it was, trainers would advertise their fees much more widely.
Whether economics can be applied to racing is a different question of course!
AP
apracing
Better prize money could come from the sales, sponsorship, reduced costs of staffing and admin …….
As for the lack of demand for more prize money, what can support the owner/trainer (if needing support) is gambling.
With an outside agency (externality) operating within a market, the economic activity (or supply and demand) can be distorted or skewed.
Quote: from apracing on 12:15 pm on April 18, 2007[br]
<br>Calls for more prize money are all very well, but where is the money to come from – unless you state who’s going to pay, the call is meaningless.
The most basic economic law is that of supply and demand – and there’s a sufficient supply of racehorses to indicate no demand for more prize money
AP<br>
I don’t understand this, we’ve got a great product, allegedly the best racing in the world, no shortage of racing, 2 racing channels, how many sports have that? RUK alone were raking in 10 million a year before joining Setanta, 48 hour decs introduced but prize money seems to be in terminal decline and near the bottom of the International prize money table. Barry Hills said the other day he won £70 more this year for winning the Free Handicap compared to 26 years ago.<br>Many races are worth much less than they were years ago, why is this? There’s something wrong somewhere why the sport’s so poor, is it purely down to having bookmakers in this country?
There is something wrong. <br>Consider the prices paid at the sales for yearlings etc.<br>Most do not win back their purchase price , never mind training fees etc. on top.<br>Why would anyone invest in a purchase with such a poor visible return ( unless it was a hobby).<br>I can only think gambling plays a major part. Anyone with other suggestions?
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