Tag: Bookmaker

Six more fixtures

I don’t want to bore you with statistics, sometimes they can prove meaningless, but there’s one stat that cannot be ignored in the sport we hold so dear. From 2008-2014, the horse population has declined by 1600, around 10%, that’s to say horses in training. In the same period – the number of races has grown by 15%. I hesitate to coin the phrase ‘the net result thereof’ – but you have to admit there appears a strong correlation in these two figures. More races – less horses..

Next year- six more fixtures. I want to make clear from the outset, I was given more than fair opportunity by the British Racing Authority to state the case on behalf of those of us who believe there’s simply too much racing. I was simply out-voted, or failed to press my arguments, indeed I think it’s fair to say my view stood pretty much alone in the face of data and reports compiled by important racing entities, to include the Racecourse Association, Arena leisure and Jockey Club. Racecourse Media Group, and Attheraces. The Levy Board also support the current level, based on data provided by big betting.

The consultation group doesn’t include any elements of Betting..

The aforementioned ‘pick five’ of racing (excluding Bet365, who oddly declined any participation, perhaps they don’t see us as serious?) Ladbrokes, Betfred, Coral, William Hill, Betfair broadly agreed with the current levels. This, despite their complaints on field sizes, elements of planning with competing fixtures devaluing certain races they sponsor, quite understandable, – that .

As to the influential Horseman’s Group? I honestly don’t know where they stand.

The BHA? As usual they get the blame, despite only controlling 200 odd fixtures themselves. One has to bear in mind, the OFT stripped the body of its powers in effect, and this is the result. I believe they definitely favour a reasonable cut. After all, the consultation was their plan. They weren’t prepared for the various stake holders to play rough, with spurious claims as to what any kind of cull would cost, without mind to the potential benefits in a raising of the bar on quality.

The sport is losing TV viewers and racegoers midweek. Bookmakers are the dominant sponsors, even if some view that as distasteful. Cheltenham lost six sponsors for their major festival races alone.  The margin in betting has seriously declined, so has racing’s market share of the betting cake and lay to lose is a cancer on the sport. I’m sure racing’s most important group of tracks would prefer to move to a more balanced sponsors book given the pervasive influence of betting, but can’t find sufficient alternate companies at the current time. After all our tv networks and newspapers are literally stuffed with adverts from gaming empires. I’m aware some of you don’t care, nor understand the long term impact of this. But a full moon is coming.

Ladbrokes, one of the largest operators in betting worldwide, have already told you of their concern as to the viability of racing as a betting product. Were you listening, or did you put it down to their failures as a company to deliver a competitive digital platform?

In order for the BHA to ‘monetise’ the sport abroad, to betting, and to new sponsors, they must deliver on field sizes, and control the level of ‘grunge’ – low quality racing put on exclusively for betting, and stop the tendency for our best meetings to compete with England vs Moldova. An instant fail.

The critical Asian market, we base some of our Levy upon, bases itself on numbers betting, – often backing several in a race. The odds permit this kind of play. How does that fit with a five runner race at Southwell? Indeed, of what interest are such events to our betting public – other than the professional players? None. Of course, I’m painfully aware to some track bosses this is of no importance right now, but change is coming with the new media rights negotiations.

In the face of the spirit of change from the Authority, Arena leisure have threatened legal action.  Yes folks, the same group who benefitted from the whole Good Friday concession is now holding the sport to ransom over their demands for a gothically dull floodlit mile for predominately low class horses at Gosforth Park. In much the same way as Pat Cosgrave was delivered back to racing – by lawyers, and their assertions. Tracks aren’t about to permit any reduction in their share of a media rights cake that has seen Bookmakers pay more than a hundred million more in recent times in fees to racing, with racetracks the primary beneficiary, and they’re not going to let a good thing go lightly..

We’ve reacted to the threat to field sizes by actually increasing the number of fixtures. Hard to believe it’s true. One is bound to question the purpose behind expensive consultation processes, other than to witness a circling of the wagons from ‘stakeholders.’ They simply refuse to countenance change, even if its utterly clear this is exactly what the sport requires to prosper.

The consultation discussed the removal of races that attracted low turnouts midweek. What’s wrong with that? It also discussed reducing the grade in certain races, to grow field sizes because we have more horses of very poor quality. This is to embark on a programme of lowering the overall quality of the programme still further. That wouldn’t be my choice, but I believe there are those who would use rocking horses if it made up a race.

All weather is on the increase, despite poor attendances, which adequately demonstrate the public have no appetite for it. The fare is largely unappealing. Racetracks focus our jewels in a one hour slot on Saturdays, often opposing more popular sports such as soccer. The midweek continues to be run down to the extreme. Sunday night racing, distressingly, has now appeared on the calendar. Nobody trumpeted that. Hardly surprising.

Few of these measures are customer focussed or about increasing quality. They evidence of an Authority boxed in the corner. Placed there by the office of fair trading. What a mess they made, ignorants with clipboards.

I’m fully aware though, there’s a strong body of fans and insiders who believe the current volume of the sport is farce.  That to prune the programme by less than 1% and move a few races about won’t change things much. It’s a view I’ve heard many times from my customers, read constantly on social networking. Most of these views are the punters of course. The vital stakeholders group in racing who don’t have a seat at the top table, as things stand currently. They are joined though by a few brave souls from the training ranks, and some well intentioned journalists.

As we keep lowering the bar on quality, we make the whole thing just that bit less interesting to bet on. The USA has seen a dramatic decline in interest and betting in the sport. Excessively dull as a product. That’s precisely where we’re heading. Believe it’s true. The global data is fully at odds from that argued by the Levy Board and Betting.

Of course, I know we can offer some superb product, and accept we can’t always have group ones. Anyone at Ascot last weekend on British Champions Day can only be thoroughly impressed by the event. Cheltenham, Aintree, York and Goodwood showcase the best of Racing. Horseracing in Britain can be utterly superb at times. I want no mistake made that I have the utmost faith in the sport. Yet we seem to be choosing the route as driven by big betting, and backed up by their highly questionable data. I don’t want to dwell on the tracks themselves. If they’re paid to race in front of empty stands, they will do just that. It’s a business. They will inevitably favour the current level. Many have impressive debt levels to service.

People are persuaded by betting by two very simple phrases. ‘Every race contributes to the Levy’ and ‘if we don’t provide racing when the punters are in the shops, we will simply sell rival products.’ Data is brought out to back up this argument. As a colleague correctly pointed out, it’s hard to take the argument for a cut in the volume of racing forward when the data appears to show we could lose substantially from any cut in the programme. I argue in a different vein. No data has been produced, nor analysed, to show what would happen to the sport’s finances were we to embark on a programme which raised the overall bar on quality. No figures have been produced to show that in fact were we to raise the average field sizes by just one – from the current average of 7 to 8 horses a race, that the extra business we would ‘field’ would more than balance any loss in the total volume. Horses would seek other opportunities.

I hope I have made that simple point well.

Let me explain big betting for those who do not understand it. No, I’m not here to discuss those who ‘get on.’ Broadly speaking, what the multiples desire is ‘product’ – lots of it. The successful supergiant will deliver as many betting opportunities as they can in an hour. Racing is marginalised as a product in comparison to gaming, which is the engine of their businesses, and other sports such as soccer. The actual number of races put on every week, make the sport relatively inexpensive to bookmakers in real terms, and they generate noise and footfall in the LBO’s. They get so many spins of the wheel. Anyone who’s remotely threatening in the modern betting environment is closed down with alacrity.

What’s our future? I believe the data rights deals racetracks have enjoyed likely heftily squeezed by the bookmakers, and we will see racetracks close.  The bookmakers simply carry far more commercial nous. Midweek racing most weeks has simply collapsed. Even our finest races ‘carve up’ between a select few, whilst lesser owners struggle at the cost of keeping their horse as the balance between prize money at the highest level and most of the programme is thoroughly disproportionate We can make more of the product.

We can grow, by embarking on a programme to cull more fixtures and move the overall quality and competitiveness right of centre. How many of you are prepared and supportive of the battle the BHA faces in forcing change, or to contribute financially towards a more interesting programme? The simple fact of life – we need a robust BHA, thoroughly in charge of what’s best for Racing. How vocal will you be in support of the surgery we actually require? I don’t see many leaders. We need a few more prepared to serve the sport and not eat its lunch.

Racetracks are feeding off rich machine based pickings from Betting, whilst many fixtures deliver a very poor product much of the time. Their focus has to be in deliverance of a better product for bettors. Not holding their hand out because 8 races makes more money than 7. Poor thinking

If I’m ever asked to stand to post and serve the sport I love in a capacity other than pricing up races, by people who seek and desire constructive change, I shall of course, but will evidently have to climb over a few stakeholders on the way! Geoff Banks October 2014

The danger of liberating lunatics?

(Referencing http://www.thetimes.co.uk/tto/sport/racing/article3961366.ece )

Sprinter-Sacre-011

My office know not to call me when I’m skiing, since I tend to the extreme and pulling your mobile out attempting some ridge isn’t wise. I knew it was important..

‘Alan Lee’ – said James- my Horse Race guru.
‘yes what is it? If he’s died send flowers’
‘no he’s bashing twitterati’

A copy was cybered over to me, so balancing on a rock I glanced at the contents – must be outstanding methinks, not like Alan to attempt anything remotely trickier than a small glass of sherry. The first paragraph made me laugh so hard I though I was going to slip off.

‘Geraghty could have saved the life of Sprintre Sacre with his quick action at Kempton’ – Something described as pragmatic.

We’ll get to that..

A little medical lesson Alan from your old pal Doctor Banks. Atrial fibrillation in mammals is very rarely deadly. It’s nothing more than an electrical anomaly of the small chambers at the top of our precious hearts. There’s no associated pain, it won’t cause you to keel over. In a human it feels rather like your heart is ‘rippling’. The severity of the condition in some cases might cause for a small electrical charge to right the situation. In most cases it just rights itself. It’s not associated with heart attacks or disease, nor the far more severe ventricular fibrillation. It’s inconceivable the big boy felt much at all as he moseyed round Sunbury. But I suppose the ‘saves his life’ copy sounds better. More dramatic and fun!

I was at Kempton on that fateful day, – which so many journalists seemed to treat as some kind of biblical disaster. It all seemed frightfully overblown and sensational. Poor old Sire De Grugy, who would probably have beaten Sacre off level, totally forgotten about in the stupid fuss 🙂 And that’s exactly what it was.

Indulge me for a second while I put what troubled me about the drama into some kind of context. And of course I know there will be those amongst you saying ‘look – he was diagnosed with Atrial Fib the next day – so BG should immediately elevated to God Like status – right?’

Let’s look at the official ‘Racing’ version. And in the words of the great Geraghty- because that’s what I believe he is, I’ve been open in my praise for his evident talent. The horse travelled well to post – showed no indications up until the 7th fence. Where-upon he gave the horse a squeeze with his legs, akin to asking for a ‘biggie’.

Unfortunately the Big-yun had other ideas and popped the fence, the reins went slack as he landed -or within a stride or two. Parlance for dropping the bit I suppose. This wasn’t normal for the horse and Barry pulled him up. Hacked him back to the horse walk, whereupon he was diagnosed with a heart issue –  with the aid of an ECG? The horse was boxed home, not to the vets, ate up that night, was delivered to Newmarket for a full examination the next day.

We know the result. Indeed a case of atrial fibrillation, not severe enough to need treatment as it reversed itself. Racing issued a press release confirming the diagnosis. Geraghty was right. Case closed, see you in March.

Alan Lee’s piece took issue with the Trolls on Twitter. He chastised their claims of ‘a fix’ and accused them of talking through their pockets via a liberal sprinkling of Times approved banter. ‘Microcosm’ ‘Intractable’ ‘Assiduously’. Thank God I went to Public Skool. I’m certain everyone else was put in their place.

He described the ‘intemperate vernacular’ (look it up) of the Betting shop as being replicated on forum websites run by Bookmakers. Surely Alan knows there’s not a single Bookmaker who operates a ‘forum’? I wonder at such comments how a journalist could live in his personal goldfish bowl, gorping at the outside world, that he doesn’t know that. At best it’s a cheap shot at the Bookies – racing’s pariahs. At worst this great sport- and everything associated with, isn’t his passion, and ATR need a more informed guest, or at least someone more entertaining. What’s this issue with ‘safe’ guests? We’re not all morons.

I’m quite certain there was no ‘fix’ here. Nobody ‘laid’ the horse in the knowledge he was about to be pulled up, and I’m certain Nicky was shocked. I don’t doubt some folk spoke through their pockets. I evidenced several lumpy bets transacted at Kempton – in the multi thousands with my colleagues. I knew my office would be delighted to see him beat – mainly because of multiple bets. Personally I tissued the horse at 1/9 – being fully two stone superior to SDG, the remainder of no consequence in that grade. I could see that in order to oppose the great horse, I would have had to in fact lay 1/4, the same odds as in the Queen Mother Champion Chase, over the fierce Cheltenham hills. Far better to avail myself of the 6/1 on offer of the Tingle Creek hero. Which I did. I’m not talking out of my pocket.

The pleasure at being such a clever Bookie was tempered by natural concern for a Racing star. I don’t mind winning-don’t get me wrong, but not if it costs the horse- any horse, injury or worse. The feeling didn’t last long as I observed Sacre hacking back to the stable. Hacking back I said

I have questions. The whole affair looked odd in that he wasn’t walked to the stables, and it surprised me nobody asked Messrs Geraghty or Henderson. You see unless Barry has a set of electrodes in his backside he couldn’t have been aware of any heart issue. In his account everything was going swimmingly right up to the pond, even having to take a few pulls – and out-jumping the whole field at the open ditch (5th). We all know the subsequent diagnosis but I think we have to look at things a little more chronologically.

According to the pilot, he squeezed his legs and the horse popped the fence, instead of the leap Geraghty hoped for. Well, ok fine, I don’t ride racehorses but that’s a monotonous occurrence over the sticks from non machine types. Second the reins went slack. I don’t see that as particularly significant. Even our greatest horses – the Kuatos, the Denmans, Arkles and so forth all have their moments where they underperform, miss a fence, or drop the bit. The standard is to ask the question, shake the reins, ask him to take the bit again, perhaps even a tap. Not what happened. Why? Of course I’m not a jockey – but isn’t this quite the norm? And if he doesn’t respond, well of course we call it a day.

Going back a step one evidenced the weakness in the market- a horse that should most certainly been twice as far odds on as he was, but this is entirely unrelated to the star being pulled up. Pessimistic noises from NJH could well have accounted for that. Nicky isn’t famous for over confidence. No harm in that.

What I did evidence was a horse without sign of distress, this to me seemed odd, and one can hardly blame folk who backed him for being upset. He was examined on the horse-walk as I understand, taken home, eaten up.

Could he have won this race and supporters would have been rewarded in their faith? I mean he was travelling upsides the not inconsiderable frame of Sire De Grugy. A stroke of genius by Geraghty, or one eye on March? In conclusion I think I would like to have seen a lot more effort in the saddle in respect of Bettors.

In the meantime, many ordinary punters lost considerable sums of money. That’s racing? These were the trolls being referred to in the report, those who had unquestionably done their money on the sure thing of the month. For the confidence of the betting product, which let us not forget funds the sport, should they not merit the fullest consideration? I wonder why nobody questioned of connections as to why he was pulled up so precipitously? I don’t know what to think with the benefit of hindsight, but the incident troubled me.

A moment to congratulate the bold connections of Sire De Grugy! I want also to say that I have met Nicky from time to time and I find him a most pleasant and personable trainer. It’s the focus on one Festival I have issues with.

Returning to the lunatics, and their keyboards. Alan’s point, these folk shouldn’t be let loose on Racing, with their empty wallets. Better such topics handled by cool and reserved hacks. Like himself you see?

However are people feeling their views are taken fully into account by the journalists who represent them? Personally, whilst I never belly ache about my losses- other than in jest, I don’t feel you can blame folk for being pretty upset sometime by gambling, it’s just the way. Of course to the Times correspondent, it’s just not cricket – we are talking about a champion horse and trainer here.

Well that’s all very well and good if they feel those same hacks out there with their pen and notebook representing not just the great and the good of Racing, the BHA and their stewards, – asking questions for the good of all the stakeholders, and not perceived as closing ranks. Too often the important customers of racing, along with owners, who underpin the Sport are casually ignored. The Punters, yes, the fodder who put in a hundred million in year in Levy and 50% of all sponsorship via the Bookmakers. They’re not in the Club. Betting is somehow ‘dirty.’ We know it goes on, but that doesn’t suggest you deserve a say at Racing’s top table.

It’s a bit rich, for a journalist, with so little to say, on fixture levels, on doping scandals, on the culture of punishing trainers who doctor reports to the BHA with paltry 3 month bans, on FOBT’s or the proliferation of unpunished non-triers in Racing – to criticise those who don’t earn a salary for their views. The important and weighty subjects tacitly ignored in favour of presenting Racing for elitists, even if in this case people were wrong to describe matters as a fix. Cosy jobs protected by selective avoidance of delicate subjects that might exclude you from interviews, upset sponsors or champion trainers.

Twitter brought down the News Of The World. It’s a forum for friendly debate. It’s sponsored by nobody. I rarely find people being rude to each other. It brings news and entertainments. Most importantly it asks and questions those in charge of industry and sport to account to the masses who support them. The views of Alan Lee, for £1 a day, won’t count a penny in the place of one well worded tweet, spun around the globe. Journalists today find their views questioned by a greater readership than they can ever hope for. Their power of speech eroded by a new and powerful medium which dares to question authority and governance and bring it fully to account.

Nothing unhealthy in that.

BANKS RAISES TRADING ROOM CONCERNS

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Rails bookmaker and Racing Post columnist Geoff Banks has taken up the issues of licensing and the situation regarding on-course trading by Betfair – particularly in their sports lounge at Ascot – with the Gambling Commission, writes Jim Cremin.

Bookmakers remain upset at the variance in tax and expenses they face compared to internetbased exchanges. One gripe is over facilities that appear to be on-course trading rooms that they say attract people engaged
professionally in laying bets but who are regarded as recreational punters in taxation terms.

Provision of the facility has become important to some courses, with substantial fees being paid by in-running traders to use corporate boxes. However, Banks has been told by a Gambling Commission compliance officer that the
Ascot facility does not constitute a trading room. Bets are, in effect, taken through a separate company, Betfair General Betting Limited, which is a bookmaker, and then hedged into the exchange.

Banks pointed out this route covered punters backing horses on the exchange, but not the laying of bets. He said:

“Course bookmakers are strictly controlled. We face tests as to our probity and pay fat fees, but then someone can in effect stand near us and lay horses without control. Somebody’s having a laugh.”

Banks also raised with the commission concerns about some in-running betting where broadcasting time delays enable on-course exchange players to lay horses who have already fallen.

However, Banks was directed to the Gambling Act 2005, which states:

“A transaction may be a bet despite the fact that (a) the thing has already occurred or failed to occur, and (b) one party to the transaction knows that the thing has already occurred or failed to occur.”

A debate in the pub about who won the FA Cup in a certain year is cited as an example of something that leads to a bet, despite the result being known.

Originally featured in The Racing Post Tuesday, March 8th 2011

A BEGINNERS GUIDE TO WIFI

Ascot is my favourite track, by a nose from York, with Cheltenham a neck third because it’s champagne is more than York’s..

Don’t bother giving me your favourite – they’re weighed in

I thoroughly enjoy Ascot. Most of the time it’s bullet cheap to race, they do concerts, firework displays, fairground rides for the Bookies, countryside fayres and service standards, the best in the industry. Nothing’s on the cheap. Bath take a peek.

Now it includes Wifi. Wow, that’s great. Except when you login and my old Mucker King Ralph pops up waving at me from Gibraltar, just like the Racing Post Betting App. I spilled my champagne all over the oysters.

Forgetting the customers for just a second, what’s in it for the tracks? First off, it’s not a cheap investment. Putting in wifi will cost some six figures at a track like Ascot or York. You can’t just bang lots of repeaters in when there’s 40,000 souls involved. It has to be paid for. Now with apologies to some seriously bright track bosses who I routinely engage I’ll tell you what it’s for.

Money.

You see to a track, Betting is appealing. They may not be considering getting into laying horses or such, but if William Hill are going to pay them a portion of what’s turned over via their wifi  to Gibraltar, then we have a new revenue stream. And Topping is no fool, he won’t overpay for the new custom. Forget what Rod Street has to say – ‘it’s a customer focussed initiative.’ That’s hyperbole, and I note with disappointment, another decision he made without consulting stakeholders. It’s about cash. No racetrack is reasonably going to invest in expensive Wifi if it wasn’t expecting something out of the deal.

Let’s deal with Rod’s take first. And I know he’s a racetrack man through and through. Is it about customers really? Will it drive footfall to the tracks – increase their customer experience? The short answer, maybe to the former – but the answer to the second is at the bottom of this read, for reasons I’ll outline. Rod knows it’s about money though. He knows everyone’s got 3g already and heading for 4g, and if they really wanted to book a table for dinner or post a picture to facebook from the track, then that works fine for that. When a customer thinks of Racing – will Wifi seal the deal on attendance when he’s got it already via his Apple? It won’t make any appreciable difference.

Now if you don’t care whether the humble Bookie turns up on course, and you feel the tracks can do well enough with their own Tote or in house betting, then read no further. Let’s not waste each other’s time.

Most of the people calling me a dinosaur with regards to this subject seem to base their arguments on value and betting. Their views revolve around going racing and achieving the best possible value for their punting dollar.

Except that they won’t (go racing) that is. Fellahs bent on achieving the top of the market in punting don’t get in their Austin Princess and drive 30 miles to Ascot. They sit at home in baseball caps on Orange screens and ‘green up’ or ‘cash out’

Woop-dee-doo

You’ve come this far. So I want you to picture a track without bookies. Here’s what it looks like.

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Still going Racing? Hmm, I wonder if you really would? You see Bookmakers have been the very fabric of racecourses since they were built. Is it possible or desirable to go the whole hog with a ChesterBet type deal? (Don’t think that represents any value by the way at SP -10%! Turpin wouldn’t have faced the hangman if he’d invented RacecourseBet)

Ok, you’re a track boss, you really think you’re going to sell as many tickets if there’s no ring, or make as much from it as Bet365 might pay you for turnover? Anyone been to Kempton or Southwell, or for that matter Longchamp, excepting Arc day? They lack any appreciable atmosphere or flavour. People queue for a bet- then they queue longer to get paid. It’s not sexy. And I like rumpie-pumpie in my racing

So, to the humble Bookie, shivering in the ring. He’s invested in a pitch many thousands of pounds. He drives often scores of miles to work. Carries in heavy equipment, electronics. Pays support companies to keep him working, taxes and fees to the Gambling Commission. He’ll employ staff to service the customer, pay them out of the profit and their expenses. And finally he’ll hand over to the racetrack not only his entrance costs, but an expensive daily fee to bet and even a marketing fee someone dreamed up. All in all he’s looking at a ballpark minimum, including the startup cost of pitch and equipment of circa £600 a day. He can’t trade at the 103% book offered by someone sitting in his underpants at home with none of those costs to bear. Don’t weep. Seriously though, we all have to be prepared to pay a little extra for service and betting fun.

Yet oddly enough, the tracks now feel the Bookie should compete directly with underpants man. Not to mention King Ralph, and his lower cost-base technological kingdom. It’s thoroughly unrealistic. The little Bookmaker simply cannot withstand an assault from all directions whilst he shoulders the lions share of expenses.

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Consider this. A track’s daily fees from Bookies far outweigh what Ladbrokes would pay for the rights to turnover from users on betting apps. And a home layer, fiddling around on Betfair, can now lay bets directly to the track’s customers via these super fast Wifi systems.

You’ve come this far- step the last mile with me. Modern day telephonics already afford a user all the social networking a customer requires. If he wants to post a picture of him and his girlfriend (or boyfriend) on Twitter holding his plastic cup – he can do it, no bother on his existing network. Experience proves however – its simply not fast enough to cope with Betting Apps or exchange business when there’s even 5000 users at a track. Data becomes treacle slow and I seriously doubt 4g will revolutionise the issue of ‘bandwidth’. It deals with speed of data. If there’s lots of folk on the internet, clogging up the mast, the system breaks down because the issue is the number of users sharing the line.

Hardly surprising, those screaming loudly in favour of Wifi, and calling me a T Rex, are frustrated they cannot go racing and fiddle about on Betfair. They foresee Wifi as speeding up that issue. And they’re right – it will.

But the Bookie standing in the ring – who’s paid for the ‘Right’ to bet through every pore in his body? Whilst the track finds one revenue source it didn’t have before, it will lose not only the fees it generates from the Ring – but the ring itself. It’s not the final nail of course, I’m not saying that, but were you running a little business on track, how much pressure from the internet, paying pennies to bet directly to customers floating about the track, do you think you could stand? What percentage of a track’s custom frequent the ring, view, or feel it adds a sense of British to their day?

My solution? Is one which satisfies customers, excepting those who expect betting permanently on the cheap. Block all access from racetracks from Wifi to betting sites. They’re not paying to bet to bettors at Ascot as other track stake holders do. That’s a key point. You simply cannot expect to reap harvest from Bookmakers or Betting shops and allow BetVictor those same privileges for nothing. Customers rights are unaffected, they can use their 3g anyway to post photos of pictures standing next to Rod Street and his nice new suit.

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The answer to the improved customer experience question for a racetrack with little or no Betting Ring, is it a better experience than Longchamp? You make the call. If you walk into a restaurant you can’t pull out a sandwich, in the same vein if you love the betting ring you have to compromise on what you should expect from a racetrack.By the same token tracks shouldn’t bite the hand that has fed them for so long.

Geoff Banks

October 2013

A £3 BET? ARE YOU SURE?

No question about it. The old man wouldn’t understand the metamorphosis in betting in this country. And the victim is very much the long suffering bettor. Of course by this country I include Gibraltar – the puppet state the Government bizarrely supports to the fiscal benefit of our highest grossing companies. The word is ‘avoid’ not ‘evade’ of course. It’s legal folks. At least until we find Politicians who buy their own lunches and look beyond their own term.

Not many times in life I find myself in agreement with Millington of the Post. An Editor obsessed with over-rounds in the 9pm at Kempton, whilst running betting apps often running to 2% a runner. But he’s right in one area – Punters in many regards are treated in a shabby fashion these days.

I was in Cheltenham this week, filming a piece for JPFestival.com on the upcoming season. Two of the locals told me the Coral shop locally was restricting all bets to £20. Now, I want to say up front I don’t believe this to be true for one second. It’s far more likely that for certain customers- markets or times there may be restrictions in place. Stories like this though pervade the industry like a cancer.  However, most LBO managers these days do spend more time ringing through anything exceeding liabilities of £100 than they do actually accepting the bets. But the FOBT’s role on without limits.

I’m going to be as kind as possible here to the modern day ‘Giants’ of Betting. For firms comfortable with a £100 spin on a machine, it’s truly pathetic if you’re holding those same customers to a £20 bet on the horses – or less. Don’t you see their point of view?

A trader gave me some stick this week, he is or had associations with Bet365 most recently, so you’d think he’d have known better.

Anyways, he placed a wager his own firm unlikely to even consider to serious money to a Horse Race trader from a rival firm, given the likelihood the selection is ‘live’, and whined publicly about how he had been ‘restricted’ by my firm. Now, let’s not let the facts ruin a good razz, and note these are already in the public domain because he tweeted the same. The bet would have returned £3600, Laid at the very best odds available. I don’t lay a bet you see. I don’t mind anyone tweeting their disapproval, but a trader for Bet365? Well that takes the biscuit!

Winning and losing isn’t important to me, but I do demand a fair ‘spread’ of business from a customer – in other words I wouldn’t entertain from a client who’d wait like a spider for us to be substantially out of line before offering a bet. Evidently this trader had ‘marks’ in his office as to the pick, and can’t get on elsewhere, or we would have been left in peace. Obviously we will lay bets we don’t always fancy accommodating, but that’s the nature of business

It’s not policy to discuss my client’s business- ever. But you’ll understand I will respond to criticism unfairly levelled in open forums. Expect it if you’re house is made of glass.

Having placed his wager – he tweeted my website as ‘unfit for purpose’ – and that ‘I wasn’t the Bookie I claimed to be.’ Of course the Bet365 website was so much better than mine. Fine – I can accept that – except to say my own Website lays a very fair bet at all times. The same isn’t necessarily  true of Bet365’s, for example on the same event and selection – we could manage but £3.75 win. Hmm. Apparently my website works for placing wagers, it’s the roulette that doesn’t work properly.

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♪ A picture says a thousand words tra la.. ♪

Anyway I’ve dealt with his barb.

Bottom line is choice -that’s precisely why people bet with me and I don’t go to bed wishing I were Denise, and she won’t be worried about me.  I lay a fair bet, or rid myself of someone who doesn’t offer me that – win or lose. That was the ethos of John Banks – and that will remain my policy till I push up daisies.

You see all I hear and read about are restrictions from customers these days. Fine, if we’re talking about professional traders, or those working a business through exchanges, I’ve no issue with closures. Step on my toes and I’ll put on the jack boots. But I do have a serious beef with restrictions. And I have been as forthright in that opinion, as I have about modern day traders themselves. Do Bet365 lay decent wagers? Of course they do, but the complaints from those who feel unhappy at ridiculous counter offers simply undermine the good. What’s the point if you’ve determined someone is no good in allowing them to make a meal out of you online? Even if you’re a fair layer – the odd derisory offer paints a false picture of you’re worth.

Now lads, let’s all get on the same page here. If you work for a company comfortable with offering derisory bets, or anything remotely similar, then you have to work to change that policy, or the odds you’re offering that force it. Instead of attempting to compete with the tenners on an exchange for such weak markets as the 3.55pm at Clonmel, price every book up to say a minimum of 2% per runner and offer the customers a better service – a bet commensurate with their ‘average’ stakes. But bets to £10 or less? Oh, come on, you’re making a spectacle of yourself. And as for moaning at me for accommodating you to a more than reasonable bet? Well, put up or bet elsewhere.

No?

Of course the industry is governed by marketeers.  The more names and e mail addresses they gather, the better it sits on their resumes. Add 10,000 new clients to your books and executives should be happy. Although the big five operators are all registering profits in the hundred million range – their net margin as a proportion of their turnover appears dangerously low.  And both Ladbrokes and Hills have announced recent significant profit dips. To be fair, there’s less complaints about what Ladbrokes and Hills lay, as to their rivals. I’m a little surprised to read occasional complaints about BetVictor. Spending too much on quality telly Ads over there?

To those execs staring with rose tinted specs at their marketing departments, I offer you caution – in the world of the internet, you can order a competitively priced pizza and have it delivered to your door. If they invented a cyber doll on the internet, sex would go out the window in a week. Betting is flooded with offers from hundreds of firms – not least my own, – for our part we discount our clients payments. Does it therefore follow, that if you found custom through money back offers – and being that type of customer, you would simply migrate to other companies when the Bookmaker’s bottom line is constantly taking hits- and the offers cease? Experience proves market share wars end up with victims, on both sides of the coin. Middle pin companies and smaller go to the wall and become part of larger organisations. Customers suffer a worse standard of service as a consequence, because smaller firms tailor their service.

I make no bones about the expression – ‘The Ryanair School Of Bookmaking’ – because that’s the modern day thinking. ‘punters get the top of the market- don’t complain if we only lay you a tenner.’ That’s not good enough for me. It’s not customer focussed. That’s the ‘volume’ edict.

You know what happens, with short-sighted policies? Your clients become disaffected, even hateful of your policies. Why should a man who bets in fifties accept or begin to understand why you offer him £5? Yet he can have a spin for £100. When a Betfair comes along, and you’re part of that exchange by playing at Bookie – you almost feel a sense of achievement. Fine you’ll do your bollocks laying anything on the machine – you have to exceed Bookie prices, but that’s not my problem.

If you’re comfortable operating a high tech – high volume website and offering £3 bets from time to time– all well and good, but bear in mind that alienates traditional bettors. Many of whom have simply struck a winning run, as is common in gambling, and inexplicably find some Herbert whose spotted two winning wagers in a row, has dropped them to a silly restriction without due cause. Ensure you only lay the ‘mugs’. Disrespectful and narrow.

Now I give as good as I get. I expect to be ribbed from time to time. I’m not short on opinions on or off course. When you work for a casino operator, you’re bound to defend policy, even if privately you think some of the companies’ offers are a joke.  I don’t doubt the individual I’ve engaged head  on agree their own firm’s restrictions are occasionally difficult to defend. They’re certainly not based at me laying them bets to lose 3 or 4 grand at a pop.

To my mind, if you allow a customer on the one hand to sit on your fruit machine or play roulette, maxing out his cards, and do his brains on either, you leave an open goal when you offer a bet of £3.

Geoff Banks

November 2013

BRITISH CHAMPIONS DAY – A DAY TOO LATE

Orfevre, Treve, Toronado, Camelot, Novelist, Declaration Of War, Intello, Moonlight Cloud, Sole Power, Sky Lantern, The Fugue.

Germany, Australia, Japan.

Most of the O Brien and Hannon yards.

None of the above chose British Champions Day. Now if you’re sitting there saying ‘well this reason and that’ – you’re not on the same page. Move straight to Holborn and collect £200

What we did get, Dawn Approach, Cirrus Des Aigles, Estimate and Talent. Speaking with my Bookie’s hat, these were the Bankers for the bettors at Ascot. With the exception of Estimate (and Farhh) both of whom had been out for months, it was confident Morning Line for me. The Bankers were readily opposable. In the case of Cirrus and Dawn, it’s fair to say their form for most of the year was nothing short of miserable. Yet they found themselves at the head of the markets. The cream of the current French Crop could and would have beaten them senseless- as has been proved the case in Races Like Le Marois. (Olympic held that form up in outstanding style, and for me was the best performer in the crop on BCD)

So, once again speaking with my Trilby and Shades on, these Bankers were considerably under-bet. Cirrus and Dawn were notably weak and whilst I was prepared to stand both for lumps, it proved impossible to field adequate sums at the prices I was forced to offer and ended up actually losing with Farhh and Olympic Glory. The point I’m making isn’t what I won or lost,-  I mean who cares if I lose? I’m guessing most Bookies won yesterday, but not perhaps as much as the casual bettor would imagine. But if our Championship Finale is made up of so many notable absentees, suspect favourites– not to mention every potential Fast Ground performer out there – it’s clear to me we will end up with a product which caters only for soft ground specialists or second tier performers. Nor can it compete with a 4 Million Euro Arc in late October.

Let’s get something out of the way. I’m thoroughly in favour of the idea, and I absolutely enjoyed yesterday. Ascot is the perfect venue and it was right for JCR to concede the point and support the move. We did get a stirring finish to the Champion Stakes. We do need a seasons ‘end’ bash. It’s excellent for turnover and betting – the engine of the Sport. I get the impression some members of the Establishment view Betting as somewhat ‘dirty’, but the roots of the sport more originated in Betting than Breeding. The securing of Sponsorship from Quipco for the series has been a major achievement. And we should take very great pride in that.

A few negative points to consider. The crowd was well down on the previous year, and struggled to reach a level commensurate with the occasion. No Frankel or Excelebration .Equally no Treve, Moonlight Cloud or The Fugue. Two similar races in the QE2 and Champions on the same card, and an oddly sited apprentice race. Predictably it rained and we suffered several notable withdrawals in the lead up to BCD, and every horse who contested the Arc card was beaten. What effect will that have on future entries? I foresee a clear choice, Arc Weekend or BCD – and not both for the many superstars critical to the day.

I’ve been critical of the BHA and in particular Great British Racing on the subject and I want to put this in context. I’ve said openly the broad idea is a good one.  However, in my opinion the day needs major tweaking if it’s not to remain the sub card to Longchamp or the Breeders. Supporters of BCD have been critical of the Breeders Cup. I’m not sure where they’re getting their material from because year on year it’s been supported by some of the best horses on the planet. What I do find as distasteful – the BHA’s consistent failure to properly engage with the Racing Public on the positioning of the day. Ask a question of them and it’s ignored. Their Press Officer tweets only to advise of carefully worded press releases. Evidently the cushiest job in Racing is PR for the BHA. There’s no discussion of decisions, nor the reasoning behind them. ‘I know nothing – Nooothing..’

Fine, if we’re talking about integrity, there’s perhaps an argument to keep matters ‘in house.’ However for issues such as British Champions Day, we’re met with silence. It’s almost as if ‘we’ve made our decision, it has to be right, you don’t understand, belt up.’ I find the whole manner the organisation engages with the Race-going public arrogant beyond belief. Has the arrival of the Australian lent itself to a mild easing of the wall of silence? Or is the Godolphin-Sungate-Egan merely proof nothing’s actually changed here except the face? It’s time to stop acting like a secret society.

Further, there’s far too many entrenched views in the organisation. Committees are formed of like-minded folk, and the same well-meaning individuals involved in various differing quangos. I’ve seen it in Public School boys Clubs everywhere, – and it’s got that same whiff of establishment. It’s time to move away from such cultures and employ people to make decisions whose views offer a broader spectrum. Such failures at the head of the industry isn’t assisted by a super pliant Racing Post editorial. That’s left to the Guardian and the Independent.

Whilst we’re on the subject of the British Horseracing Authority, why should it be the organisation lacks even one single Betting Expert on its payroll? So many decisions the Authority undertakes are affected by, or affect the Betting ‘cake.’ The only examples you’ll find at the Levy Board’s once a year Bookmakers Committee. Made up of the 5 biggest stakeholders in Betting. Hills, Ladbrokes, Corals, Betfair and Bet 365. Casino operators. I can only deduce the reasons for so many committees making decisions at number 75, without input from those thoroughly versed with Betting and its importance can be put down to pure snobbishness. I stand to be corrected of course. Policemen they have, Betting men they do not.

There’s a solution. There always is you know. It isn’t complicated. It may mean upsetting the French and the Irish. But the Irish have shown they won’t be hostage to the age old Pattern. And why shouldn’t the most powerful racing nation do so also, or is that not the British way? France is famous for bucking the rule book in so many regards. Should we feel obligated to respect their sensibilities? We could simply move British Champions Day back a month to Ascot’s September slot. Oh no, that’s just not cricket? Surely it’s just business – and good business? Give ourselves the best track, ground and poach the fast ground specialists from the French. Allez..

As to the ground yesterday – described as soft. Was actually ‘bottomless’ in places according to William Buick, heavy said Hughes and led to the first race – despite Championship status, being over 15 seconds slower than standard. Indeed every race was significantly slower than the ground report suggested it would be. Champions Day on jumping ground? Don’t be silly guys.

We simply cannot compete with the prize fund offered by the Arc, but we can compete on the quality of our racetrack, October ground issues in Paris and just getting our heads in front in the calendar. To boot, we may deal with possibility that those who took their chance at Ascot yesterday – who also participated at Longchamp, simply will not attend next year. Better horses – equals more prestige, attendance, network coverage, sponsorship deals. Last but by no means least, a horse participating on British Champions Day will make the Breeders Cup. Something people seem to forget. Bonus.

One other associated point. Future Champions Day. I very much understand the very excellent Jockey Club racecourses trying to preserve something that is distinctly Rowley. But a Friday bash the day before Ascot is simply unworkable. Nobody would drive 20 miles by choice to get to Newmarket on a Friday, worse the dismal trip home. Anyone going to Ascot on the morrow would need a helicopter – pure and simple. It’s a decision I would revisit. Fine – I don’t run Racetracks, but I’m as certain as Veuve is my tipple the loss in attendance, and by extension sponsors, will seal the fate of the meeting. Go the whole hog and move it to Ascot or tie it into the Cesarewitch. I know not to criticise the Baz, it would have been his brain child to move BCD from a track I know he loves, but there’s not enough petrol in the world to get most of us to Rowley for a Friday bash.

Here I sit, 9 hours after Lord Street’s show, listening to the thunder outside my house. The roads are full of deep washes, cars can barely pass. Bath is abandoned. Ascot simply would not be racing 24 hours later. Last year the participation of the great Frankel– even the event itself was in some doubt right up until 10.30am on the morning of Champions Day. Is this really something we should leave to chance? And do we really want to be slotted in between the mighty Arc and Breeders Cup cards, or do we just show them our rear end?

Geoff Banks

20 October 2013

LONG RUN MAKES IT A LESS THAN SUPER SATURDAY

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LONG RUN MAKES IT A LESS THAN SUPER SATURDAY

I think everyone missed their traditional Boxing Day outing, but a treat was in store in January. A high-quality nine-race card, plenty of concessions and
the promise of Kauto Star, win or lose, to boot.

I was hopeful the old-timer would get round safely and provide a good test, which he did, and he lost little in defeat to the winner in tacky ground.

Two things came out of the King George for me. First, I will be standing Long Run for his boots in March. He hasn’t got home at Cheltenham, or jumped the stiffer fences well enough. Second, if Kauto Star wins the Gold Cup, I shall turn up with my toothbrush and clean his stable. That will have Mr Nicholls rushing out for toothpaste.

Kempton also delivered on the promise of affordable racing. A massive crowd turned up to enjoy the day for only £15 in the main enclosure, and in doing so a leaf was taken out of York’s book; that track leads the way with high-quality racing, excellent facilities, cheap champagne and good entrance prices.

Kempton has shown what can be delivered in the south and I know we’ll see more of this as some twilight meetings, for example, are to be free. For the bookmakers, it meant plenty of business; for the punters the day meant Nicky Henderson. I’m starting to dislike him. Five winners, which should perhaps have been six, and the forecast up in the King George. We practised our paying-out skills, honed by what appears to be a year of poor results on ‘Super Saturdays’.

Binocular was the most expensive for us – as I suspect it was for most – landing a string of big bets. I’ll admit that we managed to win on the day, a feat right up with the loaves and fishes trick. We bet late, and never more than ten minutes before each race, in part here because it took 20 minutes to pay out on the previous race. We found prices had moved somewhat in our favour as larger rates had been taken by then for the fancied runners. Long Run, backed in to 9-2 from 7-1, won very little. But it was a different story in my office, where glum faces greeted me. Traders Elder and Dave had started placing the office furniture on eBay as it was one of the most expensive days of racing for a year. There were a series of wagers on the Pricewise tip, Long Run, including a single wager of £2,000 at 13-2, and oddly enough very little for Kauto Star. Ladbrokes declared the day to be lousy and I would endorse this description. I’m guessing the day was a disastrous one for the off-course firms. I sent my cv to Ronald McDonald.

MORE QUALITY, NOT QUANTITY

The big betting news of the fortnight was the punishment meted out to the individuals involved in the Sabre Light episode. Such incidents tarnish the image of our sport and doubtless put people off betting. You can hardly blame those who abandon wagering on events that are subject to this behaviour. But it was good to see the BHA robust in pursuing this case. However, I would like to see recognition of the wider responsibility for the root causes of these affairs. Races worth £1,700 simply don’t pay the bills. The Horsemen’s Group has it right, recommending a tariff for races. Owners should withdraw their support if those values are not met.

Racetracks enjoy a bookmaker funded bonanza with the new picture-rights deals. They should not be encouraged to feed us a diet of poor-quality, low-prize-money affairs. Such events, often riddled with gambles, are counter-productive in levy terms. Racing is funded by the betting cake and condoning the
current set-up is to accept less levy. Quality and quantity. Precious little of the former; far too much of the latter.

UNIFORMITY’S NO FUN

I Struck up a conversation on course recently with a gentleman who came up to shake my hand and pass the time. What he had to say gave pause for thought. He was in his 50s, well turned out and evidently a long-time punter, the type of client we should be concerned with.

He said that the uniformity of odds on course tended to put him off having a bet these days. He used to frequent the betting ring and found it normal to see a wide variance of odds. Punting was fun, as indeed it should be. Part of the sport was grabbing the best odds and, of course, everyone offered the same place terms, so that wasn’t an issue.

While the best value for the punting dollar remains on course, competing with exchanges has become uniform practice. Certain short-sighted layers may have persuaded the Levy Board that was the route we should take, but in fiscal and service terms it has been a mistake.

Originally featured in The Racing Post Sunday, January 23, 2011

TALE OF THE RING

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My last blog about modern day racing, and its sanitized ways, seemed to attract a lot of attention or hits as they say. And more than a few compliments from like-minded souls, or perhaps concerned, individuals on Twitter. It’s hard to be humble when you’re as great as I am…in future my rate for such scribing shall be ten pounds an article, and I’m not budging from that.

What was absent was the contra view which I expected from trainers and connections of horses boxed away in padded cells for months on end awaiting their glory moment. Shame that. However, all is not lost. I did receive one rather hateful response from a fellah describing himself rather grandly as ‘a proper Bookmaker’ who ranted about my attitudes to modern day betting rings. He wasn’t quite brave enough to tell us all who he was, doubtless of the view should he reveal his true identity, some would have realised the true worth of his business practices.  Few punters thoroughly approve of modern day Bookmakers. The horrible truth. Exchanges are the ‘good guys’ wherever they trade from. Who’s going to criticise someone for low liquidity when you’re part of the problem?

It’s perhaps helpful if I illustrate the problems as I see it in the modern ring, for those who do not understand the issues. Anyone who goes racing, midweek in particular, can’t have failed to notice the distressed state of the ring. A handful of Bookies, usually with just one member of staff each, huddling for warmth whilst serving but a few customers. In an environment where racetracks claim attendances overall are holding up, it’s a paradox that rings are so quiet. Of course, were I the RCA, I’d be talking up the product. And yes, if they don’t address the problem of stable stars retiring as 3 year olds or worse sitting out for Cheltenham, they’re going to have attendance issues; we’re agreed on that. On a Saturday, and at the major meetings however, the crowds still look good to me, but the public aren’t betting as they used to.

Or perhaps they are. I mean who goes racing these days and doesn’t have a bet? Racing’s pretty dull if you don’t have some kind of interest other than an anoraky view of form or breeding. Why does the Queen have so many ladies in waiting when she’s in attendance? Quite right, they’re running her bets out! She’s no fool. Loves a Union Jack does the Boss. Everyone’s having a play in reality. Because if you’re racing, and not betting, you must be wondering what all the fuss and noise is about!

As to the Punters, they’re just getting bored. 98% of Bookies these days have turned to trading as a simple and cheap method of making a living. From the moment the interminably ignorant Rob Hughes, of the then controlling Levy Board, cast his vote in favour of opening up the Ring to outside influences, in particular exchanges, the die was cast for the Bookies. Led by ‘pioneers’ like Martyn of Leicester, who I recall describing it as the new Holy Grail to me one day, many leapt from odds, percentages and margins, to trading every dollar they took with an exchange, at better odds. Presto, easy money – minimal risk. At the outset the gap between the odds offered by the trader and the exchange was wide, and the method simple. It was a golden time. As the years progressed, with traders chasing a diminishing pound, and their own silly greed for every bet available, the odds soared to the punters. Traders found with what profits could be engendered, squeezed so tight, they couldn’t breathe. Even when the crowds were good, they moronically bet so tight to the exchange, the profits, if at all, were derisory.

In the same period, liquidity on exchanges fell markedly. Now we had a situation where traders would offer 7/1 about a horse trading at 8.2 on the exchange but only to £20. Lord-A-Mighty if someone asked for a couple of hundred each way – a bet far larger than they could stand, trade or even dump with the few proper Bookmakers betting to opinions. Casually they knocked the larger punters back, without thought for their future. They turned to following the exchange win price, but restricting the place returns, making something off of that book instead. Tossing casually away years of agreements and the code laid down by Tattersalls. This code has, and still is, respected in betting shops and credit offices and even improved upon. They laid off staff, and finally stopped going in some cases, altogether. So when ‘a proper Bookmaker’ tells me I shouldn’t be going about criticising their business plan, I have to laugh. Proof of the pudding is in the eating. It gives me little pleasure to be proven totally right. I said this operandi would fail on every platform available to me, to whoever would listen and many who would not. If there’s no work – you’ve failed.

I’ve covered the traders, what about the views of my customers? First off, make no mistake, I like a laugh with my punters, especially when they lose – but I don’t mind the jibes when I do either! It’s part of the fun of betting with the old enemy. Because I am, the old enemy in all but age… I still offer odds which reflect my views and I don’t knockback bets from genuine punters, ever. Why aren’t the punters flocking to a ring where they can very often beat an exchange price and pay no commission? Because my friends, like me, they’re so famously bored of a ring with rows of Bookmakers betting like soldiers – all offering the same odds. There’s no variety or choice. It’s uniform and drab. Worse it’s an exchange driven cartel. Most punters believe the Bookmakers win, whatever the result. If everyone has the same price it appears like price fixing. They disapprove of restrictive practices such as 1/5th odds on the Grand National, and traders who dress as if they’ve  just stepped out of their front rooms. And worse, they just want the fun of a bet. It really matters little to them whether a horse is 5/1 or 4/1 when the nags are toiling up the straight. One of the loudest punters in the ring I love, little Tommy, makes the most noise. He doesn’t bet big, but to him it’s still the buzz, and I love him for his enthusiasm. These days, customers are afforded little of the respect of past days, when giants like John Banks and Stephen Little battled them with a smile, a thumping bet at their odds, and a tie.

I offer two thoughts for punters at this stage, out of balance. If you moan about poor place odds and you give those traders who offer them your fiver each way at 1/5 the odds on the Cambridgeshire because they are 17/2 about something which is 8/1 elsewhere, then you’ve only yourselves to blame for supporting them, in any race.  I believe you should identify the culprits and never bet with them; period. That’s how you rid the ring of scoundrels without the business acumen to appreciate exchanges aren’t the savior, but their death knell. Oh, and tell your friends. Second, although I enjoyed the banter from Big Mac, even if it occasionally made no sense, the culture of moreism always has a price; go for service over value, every time. Think I fly Ryanair if British Airways head in the same direction?

Fine, I’ve given my thoughts. What of the future? For those leading Bookmakers these days, and for the empty vessels in the ring, standing looking at the tumbleweed, bitching away, and blaming everyone but themselves for the problems, I offer these solutions.

Number one; allow the racetracks to dictate the terms of business in the rings. Fundamentally to restore order on place markets, introduce a guaranteed minimum lay to lose amount for each ring. This stops traders betting to pennies, offering unsustainable odds, and knocking back the larger punters. It’s so tiresome to hear dinosaurs claim tracks ‘shouldn’t be allowed to dictate the terms of business’. What a narrow view, especially as even now, they already do! It’s hardly in the favour of racetracks to do away with the draw of their betting rings, is it? Chesterbet is a success, but only in parallel with Bookmakers bringing the punters to play into the track in the first place. On their own, and without a ring, tracks – whilst they can deliver on the bet at more restrictive odds – can’t deliver on the flavour and atmosphere people in this country enjoy about the ring so much. Think that Simon Bazalgette and Charles Barnett are rubbing their hands with a go it alone approach? They’re no fools. They would prefer a symbiotic relationship. Every time we say no to their requests for improved service standards, they become just a little more unsympathetic to our problems. They will naturally turn their vast expertise in running business, into taking betting under their wings and employing people like me to show them how it’s done successfully. And yes, I would, if the alternative is to stand amongst a bunch of fiddlers trading dollars in their jeans.

Number two, for racetrack bosses. Extinguish the cosy little relationship between RDT and Betdaq, with software capable of skillfully enabling traders to hive off bets at lightning speed to the exchange. Do away with track broadband and WiFi altogether. Outlaw data cards, secondary laptops and hand held PDAs for Bookmakers. No, it’s not air tight, but it does go an awful long way to restricting the ability to trade with exchanges. Especially at festival meetings where mobile phone networks like Vodafone do a total runner. Fundamentally, switch off the exchange displays on laptops provided by companies such as RDT and return rings to a lower tech environment. Give serious pause for what I’m advocating if you value a vibrant ring, its draw and income. Stop worrying about losing a few traders who do not approve of restrictions. Believe me, they’re no loss! En fin, if you’re showing exchange odds on a big screen at your Racetrack, you’re doing yourselves no favours. It isn’t about price.

Number three Bookies, get into the modern day age of cashless societies and find bank’s willing to offer the new fast generations of swipe debit cards to enable punters to bet without the need to queue for hours and days at cash points.

I accept there will be a variety of views out there to this. If you’re a hard working Bookie, you have my respect for your efforts, but you’re going nowhere, if you don’t adapt, and you know this is true. If you’re the blinkered sort, who believes the Son of John Banks got here through luck rather than focusing on service standards, or if you’re worried someone else in the ring on a mobile will break the mould and have a huge mass of punters at his joint, whilst you have nothing, then you’re missed the point. It’s greed and an unworkable long term business plan that got you here in the first place. You have to work as a collective, rather than a series of individuals, and you have to act now and stop thinking of what’s good for you, but what’s best for the customers you’ve lost. The tracks have the power to lay down sensible practices, if you’d only let them. One thing’s absolutely for sure, the one you’re using right now has failed, miserably. I don’t think anyone could argue with that. For those that view some of the points as ‘legally challengeable’, I point you to the free for all 2008 Gambling Act. Good luck in Court trying to get a decision as to what is, or isn’t legal anymore, because the Gambling Commission certainly don’t.

One final point, Bookies. Just a few years ago, many of these points were laid down by the NJPC articles. I don’t recall anyone at that time complaining, or challenging the terms. We can change, and we must, if the whole shebang doesn’t migrate to GoodwoodBet in a very short time.