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Posted on 31 July 2011.

Top quality racing sees totepool turnover soar at Glorious Goodwood.

Top quality racing meant that racegoers flocked in their thousands to the Sussex Downs this week for the five days of Glorious Goodwood and totepool turnover soared as a result, up 12.9% at £2,582,116 compared to £2,287,815 at last year’s festival.

The highlight of the week saw Frankel destroy a high-class field in the QIPCO Sussex Stakes on Wednesday and it was no coincidence that this proved to be a stellar day for totepool turnover which was up 20.4% at £489,976 compared to £406,090 in 2010.

There was another reason for totepool punters to celebrate that day as anyone backing Frankel on the totewin market would have been paid out at £1.90 as opposed to the 8/13 starting price which equates to a decimal price of 1.62.

“It’s been a glorious Goodwood meeting for totepool with turnover up on all five days and several of our products – especially the totewin – have offered fantastic value for punters,” said totepool spokesman George Primarolo.

There was an exciting climax to the weekend with three totescoop6 punters aiming to land the £613,928 bonus fund by picking the winner of the Blue Square Stewards’ Cup on Saturday. In the end, an anonymous totesport customer correctly selected Hoof It which took his winnings to well over £750,000.

totepool Turnover – Glorious Goodwood

Tuesday 26th July:                       £367,599                (up 0.6% compared to £365,536 in 2010)
Wednesday 27th July:                       £489,976                (up 20.4% compared to £406,090 in 2010)
Thursday 28th July:                       £587,924                (up 12.4% compated to £523,012 in 2010)
Friday 29th July:                  £618,369                (up 14.3% compared to £541,176 in 2010)
Saturday 30th July:                       £519,146                (up 14.9% compared to £451,999 in 2010)

Total:                                      £2,582,116      (up 12.9% compared to £2,287,815 in 2010)  

Betfair NASS Projects Awards.

BETFAIR have donated £25,000 to the National Association of Stable Staff (NASS) to be used to improve facilities at Hexham racecourse.
NASS established a minimum standard for stable staff facilities at racecourses and Betfair agreed to sponsor a joint project with NASS to enable their donation to be used for the benefit of stable staff.

The Betfair/NASS Project was announced in March 2011 and independent racecourses were asked to bid for funds on a match-funded basis to improve their stable staff facilities in line with the NASS minimum standards.

Six Racecourses put in submissions for funding and the past four months have been spent exploring the potential benefits of the bids to stable staff and racecourses and the necessity for the improvements.
The decision of the Project Panel, which comprised Betfair and NASS representatives, is that the whole of the funding should go to Hexham Racecourse for their proposal to build a new second stable staff accommodation facility, which will enable both male and female staff to stay on site near their horses.
The present arrangement means that when more than one gender wishes to stay then Hexham have to utilise local bed and breakfast facilities at short notice, and not all are completely satisfactory.

Jim Cornelius, NASS Chief Executive, said:  

“I would stress that this was not a rejection of the other bids, all of which we would have loved to have funded, but the Hexham submission was clearly one that we had to support.

“It doesn’t surprise me that four out of the six bids were from National Hunt Racecourses as they are generally more likely to be struggling financially and we are more likely to get complaints from them as opposed to other racecourses.

“Hexham is a lovely racecourse which, due to its location, requires overnight stays and is not in the top league financially or in race terms. But we are delighted to have been able to help them out in this manner.”

Betfair’s Martin Cruddace, Chief Legal & Regulatory Affairs Officer,commented:

“We have committed to support grass roots racing to the tune of £3m in a three year period, and it was only right and proper that this five-figure sum was set aside for the benefit of stable staff.

“Let’s hope the staff that keep the show on the road feel the benefits once Hexham have completed their upgrade.”

Dennis Gallagher, Marketing Manager at Hexham Racecourse, said that they were delighted to have been successful with their bid to secure funding for improvements and additions to existing lads and girls stable staff accommodation, and Gallagher went on:

“The very generous gesture made by Betfair, in the interest of racing in general and the National Association of Stable Staff in particular, is greatly appreciated.”

Posted on 24 July 2011.

Betfred take over sponsorship of Ebor.

Bookmakers Betfred have announced that they will be sponsoring the Betfred Ebor at York this year for the first time following their successful purchase of the Tote.

The Betfred Ebor, which was first run on the Knavesmire in 1843, is the most valuable handicap run in Europe with a total prize fund of £210,000 and was first sponsored by the Tote back in 1976. The race will be run for the first time on a Saturday this year and the Betfred Ebor will be the feature race on the final day of the Welcome To Yorkshire Ebor Festival.

Mount Athos and Saptapadi currently head the market with the sponsors for the race at 10-1 with the quintet of Blissful Moment, Fox Hunt, Quest For Peace, Tactician and Tuscan Gold all next in the market at 12-1.

“I’m delighted to be sponsoring the Betfred Ebor for the first time this year and hope that this will be the beginning of a long-standing and fruitful relationship with York racecourse,” said Betfred chairman Fred Done.

“The Ebor has been one of the cornerstones of the Tote’s sponsorship portfolio for years and I plan to make the race bigger and better than before under the Betfred banner.”

Betfred will also be sponsoring the Betfred Melrose Stakes on the final day of the Welcome To Yorkshire Ebor Festival, a race which has grown both in value and stature since the Festival was extended to four days.

Run over the same distance as the Ebor, it provides the perfect opportunity for three-year-olds that have not managed to get into the big race and was won last year by Mount Athos, who is the current joint-favourite for the Betfred Ebor with the sponsors.

Posted on 22 July 2011.

Betfred announce Goodwood sponsorship.

Bookmakers Betfred have announced they will be sponsoring two races on Ladies Day at Glorious Goodwood.

Betfred sponsor the opening race on Thursday, July 28, which will be shown live on Channel 4  - the Betfred The Bonus King Handicap (2.15pm, 1m 1f 192yds)  and the last race on the card, the betfred.com Handicap (5.25pm, 1m 3f).

Betfred boss Fred Done commented:

“I’m delighted to be sponsoring two races at Glorious Goodwood and I hope this will be the beginning of a new relationship with the Sussex track.

“The whole festival looks to be outstanding and I am delighted to be associated with a fantastic course and high-quality racing.”

Goodwood’s Managing Director Adam Waterworth added:

“We are very pleased to be welcoming Betfred as a sponsor to Glorious Goodwood and, as Fred has said, I am sure it is the beginning of a great relationship that we can build on for years to come.”

Connolly’s Red Mills to sponsor Irish Champion Stakes.

Leopardstown Racecourse announced today that Connolly’s Red Mills, Ireland’s leading equine feed manufacturer, is to sponsor the 2011 Irish Champion Stakes.

 The sponsorship of the Red Mills Irish Champion Stakes, the first of a three-year commitment, marks the company's continued growth in both domestic and global equine feed markets. The company now exports to over 30 countries worldwide, with further markets being explored.

Joe Connolly, Managing Director of Connolly's Red Mills said:

"We are delighted to announce our sponsorship of one of Europe’s most prestigious races. In these challenging times we recognise the importance of support for the industry at home, while highlighting the positives that Irish racing and its leading companies have to offer the global equine community. Our alliance with this world-renowned race will greatly assist Connolly's Red Mills in continuing to build our global brand."

Posted on 12 July 2011.

Rod Street appointed as Chief Executive.

 The QIPCO British Champions Series, designed to throw the spotlight on Britain’s best Flat races, today announced the appointment of Rod Street as its Chief Executive.

 Street played a key role in the formation of the Series as Chief Executive of Racing for Change. He will remain as Chief Executive of Racing Enterprises Limited that incorporates the Racing for Change project. Prior to becoming Chief Executive of Racing Enterprises Limited he was Managing Director of Northern Racing for five years.

As Chief Executive of British Champions Series Ltd, he will be responsible for all aspects of the business – which includes the successful delivery and strategic development of the QIPCO British Champions Series, which is founded on promoting the wider awareness of the best of British Flat Racing to the commercial benefit of the sport.

Street succeeds Karl Oliver, who orchestrated the creation, planning and commercial delivery of the Series as Project Director for Premier Racing at Racing for Change. As the founding Chief Executive of British Champions Series Ltd, Oliver led negotiations to secure ground-breaking commercial partnership and broadcast agreements prior to the Series’ launch. With these completed, Oliver has decided to pursue a new challenge.

Chris McFadden, Chairman of British Champions Series Ltd, said:

“I’m delighted Rod Street has agreed to lead the QIPCO British Champions Series. His expertise and approach will help to ensure that the Series can make a real difference to British Flat racing’s future fortunes in the long-term, by attracting a broader audience for our sport.

“I’d like to offer our huge thanks to Karl Oliver for the fantastic work he has done since April 2009. Change is never easy to drive through, but Karl’s efforts and dedication have seen the birth of the QIPCO British Champions Series and major new commercial deals for British racing. We wish him the very best in his next venture.”

Discussing his new appointment, Rod Street said:

“The promotion of Britain’s finest horseracing is one of Racing for Change’s main pillars, so I’m excited to be even more closely involved with the QIPCO British Champions Series and very much believe we can build on its initial success.”

Talking about his departure, Karl Oliver said:

“It is with sadness that I leave British Champions Series Ltd, however I have achieved everything I set out to do. The Series is in good shape commercially, with broadcast and sponsorship agreements in place and a strong shareholder board and management team to take the business forward. I wish Rod all the very best in his new role and look forward to seeing the Series go from strength-to-strength. I now intend to take a well-earned break before announcing my next challenge later in the year.”

Posted on 12 July 2011.

Horseracing worth over £200 million to Yorkshire economy.

 Horseracing contributes nearly £230m annually to the Yorkshire economy, according to a new report by the respected Centre for Regional Economic and Social Research at Sheffield Hallam University.

 Commissioned by the nine racecourses last year, CRESR looked in depth at the activities of the racecourses, trainers, breeders, owners, trainers, jockeys and on-course bookmakers. They also took into account off-course spend by racegoers and those attending racecourses for events such as conferences and exhibitions.

The study largely mirrored that adopted by Deloitte, which has undertaken a number of projects exploring the economic impact of racing across the UK. Paul Lawless and Ian Wilson, the study’s  authors, concluded that the full annual economic impact of horseracing in Yorkshire was around £228m in 2009.

Elaborating on the employment ramifications, Professor Lawless said:

“In addition, the core racing industry provides some 2,300 full-time equivalent jobs in the county and, using Yorkshire Forward’s Regional Economic Model, it can be estimated that racing supports another 830 full-time equivalent jobs in the county.”

 Of this total of £228m, around £30 million was attributed to off-course spend by racegoers, including hotel stays, food and drink. This was largely linked to meetings at York and Doncaster. Welcoming this report at the Great Yorkshire Show, where the Yorkshire racecourses are a partner on the ‘Welcome to Yorkshire’ stand, the tourist agency’s chief executive, Gary Verity, said:

“Horseracing is part of the lifeblood of Yorkshire. This report illustrates not only how important the racing industry is to our county but the future potential of racing in Yorkshire; we are the home of horseracing in the UK and that is why we are working closely with ‘Go Racing in Yorkshire’ and all the racecourses to ensure that when people think about going racing for a day or a weekend, they think about coming to Yorkshire.”

Simon Channon, Chairman of ‘Go Racing in Yorkshire’, added:

“This report confirms that racing matters to Yorkshire. We’re delighted we can show our existing sponsors the true value of the sport which they are backing, and it will be enormously helpful that Yorkshire racing can demonstrate such a positive impact on the economy when we seek to broaden our support base in years to come.”

Nine courses are linked to ‘Go Racing in Yorkshire’ – Catterick and Doncaster both race on the Flat and over Jumps, while Beverley, Pontefract, Redcar, Ripon, Thirsk and York stage Flat racing only, while Wetherby hosts Jumps racing only. Some £155m of the £228m overall total can be attributed to one of the nine courses in the region. Collectively the nine courses stage some 175 racedays per year, which is around 12% of the national fixture list. Attendances in 2009 stood at getting on for one fifth of the national figure, emphasising the popularity of racing in the county.

 In 2009, over 100 licenced trainers looked after 3,288 horses in training in Yorkshire – some 22% of the UK-wide figure. CRESR estimates that more than 5,000 individuals in Yorkshire are involved in ownership of a racehorse in training in the county. Taking into account the average cost of a horse in training (£15,000 per annum), plus jockeys’ riding fees, but minus their proportion of prize money accrued, CRESR suggests that owners’ net expenditure in Yorkshire is around £50 million. Thoroughbred breeding in Yorkshire, meanwhile, accounts for about £11 million per annum.

Posted on 07 July 2011.

Horse Racing Ireland announce 6 month figures.

  The six month figures for the horse racing and breeding industry in Ireland published by Horse Racing Ireland on Thursday 07 July, show signs of recovery in some areas, but overall they reflect an industry that remains under very serious pressure. 

 The positive trends were a 30% increase in bloodstock sales at public auction, a 20% increase in Tote betting and a 3% increase in average attendance at race meetings.  On the other hand, the number of horses returned in training showed a 14% decrease compared to the same period last year, on course bookmaker betting fell by 10% and race sponsorship by 8%. 

 Brian Kavanagh, Chief Executive of Horse Racing Ireland (HRI) said

“With prize money down by a further 5% (€1.1m) to date this year and 25% in total since 2008, a decline in entries and runners was inevitable.  However the 14% fall in the number of horses in training for the first six months is very worrying as this has a direct impact on employment levels throughout the country.

 “The increase in bloodstock sales at public auction was largely driven by overseas purchasers which represent a vital source of inward investment to the Irish economy.  Whilst encouraging, it should be noted however that the largest number and most valuable of the bloodstock sales take place in the second half of the year.

“Given the reduced fixture list for 2011 which was announced last year, the total number of fixtures and races were always going to be down.  Against that background, the increase in average attendance at racemeetings is encouraging and reflects credit on the efforts of racecourses to offer value for money packages and added entertainment.  That said, the economic environment is providing a major challenge for racecourses in attracting racegoers.

“ Initiatives such as student days at Cork and Limerick, combined with good performances at the major Festivals at Fairyhouse (up 4,400) and Punchestown (up 1,600) contributed to a welcome increase year on year.  The tracks in the West of Ireland continue to perform particularly strongly. 

“ The level of new owners registered shows a marginal drop on last year, but in the circumstances, this is a satisfactory outcome.  A number of these new owners are overseas based, including from some of the developing bloodstock markets of China, Russia and the Middle East.”

 On the betting front, Brian Kavanagh said

“Tote turnover has been significantly boosted due to increased international co-mingling with betting on Irish pools up by 24% year to date.  While this is lower margin business, combined with significant cost cutting measures, it means that the Tote is on target to provide an increased return for Irish racing this year.

“On course bookmaker betting remains under extreme pressure, showing a 10% decline on last year.  The reality is that the on course market is finding it increasingly difficult to compete with the tax free offshore alternatives and until a proper licensing and taxation arrangement is put in place for these platforms, that will remain the case.” 

 Despite the difficulties of the industry off the track, Irish horses, trainers and riders continued to enjoy high profile international success during the period.  In the national hunt arena, there was a record breaking 13 Irish trained, 15 Irish bred and 22 Irish ridden winners from the 27 races at Cheltenham, while on the flat Aidan O’Brien has already captured 8 Group 1 races internationally and currently heads the leading trainers championships in both Ireland and Britain.  Eddie Lynam, Tommy Stack and Jim Bolger have also had Group races success in England.

In conclusion, Brian Kavanagh stated

“If there is a theme running through these figures, it is that international interest in Irish racing and breeding remains strong, but the domestic sector is under enormous pressure.  The industry has suffered a series of cutbacks in recent years and urgently requires a long term funding solution which is not dependent on Government grants.  HRI believes that the Horse and Greyhound Racing Fund can be and should be fully funded from betting duty and is working with the Government to achieve this through a meaningful levy on betting across all platforms.  We should not have the situation where a betting industry with annual turnover of more than €4.5bn generates betting duty of less than €30m, whereas 20 years ago, when turnover was just €370m, duty was €37m.”

 

Posted on 06 July 2011.

Ladbrokes expand Galway Festival sponsorship.

Ireland’s leading bookmaker Ladbrokes, who operate the two busy betting offices on-site at Ballybrit have joined the list of signature sponsors for the hugely successful Summer Festival meeting in Galway later this month by underwriting six of the seven races on the Saturday card.

This penultimate afternoon of the annual festival, (which runs in it’s entirety from Monday, July 25 to Sunday, July 31) is being designated as "Ladbrokes Red Day" and features the €70,000 Ladbrokes "Biggest Names Best Prices" Handicap and the €40,000 Ladbrokes Handicap Hurdle.

 The welcome input from Ladbrokes to Ireland's most successful race gathering on the annual festival circuit ensures that all 52 races scheduled by Galway Race Committee for the Ballybrit course are being sponsored, resulting in an enviable overall prize fund of €1.6 million.

 Joe Lewins, Managing Director of Ladbrokes Ireland said:

“We’re very much looking forward to this year’s festival and are delighted to be building our association with what has become one of the main highlights of the Summer in Ireland. We are committed to supporting Irish racing and we have a number of plans underway that we feel will contribute to making the week even more spectacular.”

 

 

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