British Horseracing Authority

Don’t forget to gamble responsibly..

Watching the Oikball the other night, sitting next to my Sons, I observed West Ham sporting their snappy outfits pressed and laundered by Betway. Newcastle were sponsored by those nice people that lend money – Wonga. The stadia was adorned with Betway bunting. The adverts during the game were predominately sponsored by companies claiming their users ‘gambled responsibly’ – Especially Ray Winstone, who I doubt has had a tenner on anything in his life. But it’s great viewing for children. Honestly

If you like to watch sport, you’ll get used to this. If you like your late night telly – you know – stop camera action from the police force in Reading, the best looking penis, or shows about cars with fabulous emission ratings, you’ll also have become used to proliferation of gambling adverts. Some of whom sound almost heroic.
Of course we’re encouraged to ‘gamble responsibly’ by the yellow sign that tells us all (subliminaly) that when we’ve had enough FUN FUN FUN – we must learn to stop.
In other words, when you’ve run out of cash, maxed out every credit card you’ve got, kicked the fruit machine to bits, mortgaged your home to the hilt, turned your Missus into a Lesbian, and of course made the BBC documentary on ‘Britain At The Bookies’ – the home for all genuine sad acts, – then you’ll have truly arrived in the worlds of Bet365 and William Hill
If you’re in the minority, like me, the Mary Whitehouse types, you might pause for a moment and wonder what effect this siege of advertising has on our phsyche- not to mention those of our children. I mean we stop cigarette adverts, so why is it permissable that EVERY ad break tells us we have to spin to win? And sometimes more than once a break?

And of course, as every independent bookmaker and decent minded citizen knows- The UK’s ‘watchdog’ – the Gambling Commission, with all its fees and hype – does absolutely nothing. Nothing at all, to justify its very existence. ‘To protect the vulnerable.’

The ‘vulnerable’in this case appear to be online gaming giants

Little known- but worth mentioning, back in April I challenged Paddy Power on promotions headlined with the banner ‘money back’ on certain wagers. This was a headline grabber and peddled widely in the press. I invited them to desist from encouraging customers to wager under the entirely false assumption certain stakes would be refunded, when in actuality the customers were being refunded in ‘free bet stakes’. Of course the two are entirely different offers

Paddy Power declined to remove promotions with said headlines.

I challenged this with the ASA as misleading and wholly false. The challenge was upheld and they were ordered by the authority to cease free bet promotions with the headlines money back.

Paddy Power were not alone – Many firms were doing exactly the same, and in direct contravention to an earlier ASA ruling against Betfair for the same type of claims. These firms were directly contravening an earlier ruling

The question is this. Why did the Gambling Commission, the custodian of fair gambling and the vulnerable, not step in at any stage to order such promotions to be withdrawn? Is this agency actively complicit in protecting such firms from basic licensing conditions? Were said firms not in fact contravening several codes in licensing practices with such claims?

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I think I’m a fair minded bookie. I try to give my customers a better class of service and compete on odds with the high street. And as a bookie you might expect me to side with my own. I mean I do have a gambling site. But I don’t bombard people with adverts at 2am about it, and if I were to shove it on my occasional trips to Channel 4, where I upset the establishment for your viewing entertainment, I’d get my backside kicked off pronto.
I’m deeply uncomfortable with what goes on. I feel for those who are suffering. I favour a UK wide ban on anyone who self excludes – not backed by the Gambling Commission. I disagree with the use of credit cards to fund gambling. I disagree with Gibraltar outfits shoving their ‘online’ products to Racing. Although I scoff at the BHA’s lack of backbone in any department, all sound bytes.
I hear a lot of complaints from punters, some of whom could accurately be described as ‘bonus junkies.’ The new breed of professionals who scour the bookie websites for top of the market hits. I have some sympathy with the bookie view that a lot of those types of customer are worthless to us in business.
BUT. If Paddy Power are to offer even money each of two in a Rugby match, with just the outside chance of a handicap ‘tie’ to save them, if Skybet are to offer a loss leading 6 places on the Cambridgeshire, if Coral are to offer 6/1 each of 2 in a tennis match to new customers only – and all of them make money, then I know they’re not getting fat on those sports, especially the increasingly worthless racing product.
So they’re fattening on gaming. – NAP

Bet365 seem totally content to treat their customers with err, uhm contempt, by offering a customer, their customers, a £1 wager. They don’t care about the PR implications of being described by the same as ‘total frauds’ for describing themselves as ‘Bookmakers.’ Because they’re global. And for every clued up punter they treat so poorly over here, there are perhaps 5% of these new accounts they dig up that make the whole exercise of pushing for new business worthwhile. And deeply profitable. One can admire their bottom line, if not their methodology
Should we feel sympathy for those professional types who complain so vociferously? Clearly we care about the genuine punters who fluke a 16/1 winner and find their next wager batted down to 36p. But the pros?
For myself, I never keep a customer on if I’m not prepared to lay him or her a bet to lose at least £50 as a minimum, and remember that’s my minimum, not the average of what we’re prepared to lay. But that’s because I have standards. I may not like what some customers get up to, but if I do, I close them down with a fair explanation of why it’s been done. We do not hide behind ‘trading decisions’
But the big companies are the ones peddling the prices and offers. They’re continuously driving for new gaming custom and fully prepared to be ‘best odds guaranteed’ or ‘best prices for all Channel 4 races’ – even if it guarantees a loss. It’s a bit like the supermarkets claiming they make nothing from milk, because they choose to sell it so cheap to get the customers into the stores in the first place. They don’t care if the dairy farmer ends up out of business.

These ‘companies’ have created the bonus and offer culture. The free bet. I heard recently Coral offering a guarantee to lay any horse to lose a decent amount, I’m uncertain if it was Coral’s diminutive UK division or their Gibraltar arm making the offer, because its hardly clear who you’re wagering with when you call up ‘Coral.co.uk’ . They’re not prepared to offer it online, nor even on their phones. Once again a headling grabbing offer that turns out not quite as good as it sounds. But in a way I support any move towards a sensible lay to lose – I’ve always advocated £100 as a startpoint. Coral stand alone in proferring any sort of guarantee to date, even if it’s only in their shops.
But they’re a multi million pound outfit, still un prepared to offer their advertised odds to all of their customers. A bit like Waitrose saying it’s 50p for that Cadbury’s flake, but not to everyone. Isn’t this sort of thing a trading standards issue? And of course pretty much all of the other outfits are exactly the same. Complaints litter about what they don’t do, far more than what they do. Now why is that?
So the next time you think about grabbing yourself a ‘free bet’ for a tenner. Ponder awhile. If you can afford not to support firms who behave with such overall disdain for large sections of their customers, why would you support them with your business? If you want change, you have to be prepared to boycott those firms you consider place little real value on loyalty.
And should they be mandated, as they are in parts of Australia, to lay a fair bet to any price they offer?
Well the Gambling Commission don’t agree with you, but I most certainly do.

Bing Bong – Pay Pay – the Bookies view of Ascot..

Anyone that describes racing as dull has to be an astronaut. If the highlight for your average rocket man involves periods of sheer terror sitting on tonnes of high explosive jet fuel, punctuated by moments spent trying to work out the on board toilet then I suppose racing falls somewhere between the two. Racing provides so much more gripping entertainment. My week started with ten minutes of fame on Channel 4. The director in my ear telling me to ‘pipe down’ – this is fairly standard. Two large security guards stand off camera ready to drag me off set.

So we chat about Gosden Horn, sitting in the sun, with forecast temperatures of 18 degrees. Lucky asks if I feel the greatest horse on the planet will take his chance. Now, I’m supposed to have done my research, which includes looking at this horse’s form.. – Unless I’m mistaken, the brute beat none other than Storm The Stars at Nottingham on ground described as good to soft- soft in places. Add the paltry 700 grand on offer, the thousands who had paid to see him, the kudos in doing the Derby-George double, that the horse had travelled, that the field was inferior, and that I’m paid to speak my mind – I said I was confident he would indeed take place.

Everyone knows I’m rarely wrong.

A gaggle of press accompanied Lord John on his perambulation around the track, sporting a knitting needle to stick in the muddy bits and accompanied by Anthony Oppenheimer, -carefully dipping his cheque book into the ground. And yes, indeed, race fans – it came up ‘moist’. Of course I jest – it was his credit card. Breeding beats prize money, there’s no appetite for a tussle anymore amongst the top owners

Feature of Ascot’s excellent support card – a big sprinty thing where they split into 9 groups and the commentator takes a pot shot at who’s actually in front. Now this gets entertaining! Unless you’re an official

History says Speculative Bid travelled the course without the jockey because Spencer was sitting on the stalls rather than the horse. Perhaps he was practicing his dismount? Starters don’t react to cries of ‘No No No’ these days- nor do they speedily inform the stewards of the status of the horse in this age of walkie talkies.

Now I know you’re dozing off here- because who gives a monkies if the bookies done more of their money than they should? Rub of the green. But there’s a strong message here – and it’s important not only to learn from it, but hold the BHA properly to account, because that is how we progress change. Of course folks make errors, but what struck me was the abject lack of taking responsibility or a will to apologise. A thorough lack of understanding from one of the most professional group of stewards in the game, that they’re responsible to the betting community and the general public- most of whom have had a bet.

Bing Bong

Error one – ‘we’re looking into an incident at the start- but the placings are unaffected’

Wrong.

If you’re enquiring into the status of the favourite as a runner, you’re most definitely affecting betting markets. Why not mention what you’re actually discussing?

Bookies paid out dutifully and swiftly without deducting one fifth of winnings as rules dictate.

Bang Wong

‘Weighed in’ –Now we all know someone didn’t do their job here. Who to blame? Perhaps the stewards themselves for taking so very long to find out what happened to the favourite

Bing Bong – Bing Bong Along

‘Stewards Enquiry – we’re looking into the status of the favourite and whether he was a runner or not’ – Say what??

Bing Ding Dong

‘The favourite was a non runner’ customers can get their money back – oh right, sure thing.

So we pay everyone out on the favourite. Which was an illegal instruction. In the meantime the Betting ring managers are besieged with confused customers. Although most bookies had paid out. Not to have done so under the instructions given by the stewards would have been unprecedented – would have potentially resulted in loss of licenses – and would have most certainly caused a riot.

90 minutes pass, during which time the betting ring manager high tails it to the stewards secretary to remind him that what they had done was an illegal instruction under the rules of racing and explain what a bet is. Oh and what ‘weighed in actually represents..

Ding-A-Lang Dong

‘Stewards now instruct that Speculative Bid was in fact a runner for betting purposes ‘ tra la la la la – go back to the bookies for more

Those few who had had rule 4’s deducted took the opportunity to return for another refund. Tee hee. (not all I would add- most realised the bookies were as much victims here- and behaved impeccably)

Jamie Stiers took to Racing UK to explain what went on, roughly. He refused to apologise. Not in his remit.

Here is the ‘decline to apologise video’ – this from the BHA’s head of regulation – so we should expect a polished performance. Instead it adds to the shambles by giving the impression even he didn’t understand the rules- or know what was occurring. ‘I am advised a rule 4 should have come with the withdrawal of the favourite’ – this is a staggering remark. I believe my 12 year old knows this one! As head of regulation he clearly had to have the rules of betting explained to him.

http://www.racinguk.com/news/article/36742/bha-to-launch-bid-inquiry

The stewards made enquiries and in their report they mentioned those findings would be shared with the Authority. Oh, I’ve heard this one before. The brush.

the official report from Ascot:-

The Stewards held an enquiry into the start to ascertain why SPECULATIVE BID (IRE), ridden by Jamie Spencer, failed to start and eventually left the stalls rider-less. They heard evidence from the rider and the starters. Spencer stated that the gelding was loaded late as he was known to be difficult in the stalls and just prior to the stalls being released SPECULATIVE BID (IRE) got his head over the adjacent stall 23. He added that when the stalls were released he was off the horse. Having heard their evidence and viewed video recordings of the start, they found that SPECULATIVE BID (IRE) was deemed not to have started and, under Rule (B)10.5, ordered the gelding to be withdrawn.

The Stewards further enquired into why the Weighed In signal was given before the enquiry into the start of the race had been concluded. They heard evidence from the Stipendiary Steward, the Clerk of the Scales and the Racecourse Announcer. Having heard their evidence they forwarded the matter to the British Horseracing Authority for further consideration.

Look, I can take a joke as much as the next man. I can easily accept errors are made. My problem with the Authority here is the abject lack of transparency, a failure to immediately apologise and take ownership of the problem. All businesses pay for their errors- except the BHA it seems. They want the bookmaking community not only to foot the bill, but take the flak, the assaults that took place on my colleagues, the inconvenience and the loss of face. In the meantime they will conduct internal inquiries and ‘move forward’. If moving forward is to set a precedent whereby we pay for their shambolic and ill informed stewarding – then I have one answer.

I’m sorry, but I’m tired of the simple lack of accountability for errors and the high minded attitude that comes with. Appalling race planning, 8 flat meetings on a Saturday in July, 3 jumps meets on a Sunday. Embarrassing integrity enquiries taking years to prosecute in which video of races are lost.The head of integrity is still in his post – headlines ‘we’re consulting ourselves into how we’re doing’. Yup. Race planning is for five year olds, yet its head sits in her chair. A general lack of consultation with the general public. The mundane press releases in the place of open press conferences like other sports in which journalists have an opportunity to test their performance.

I should say it makes me deeply uncomfortable to have to challenge the organisation. But I feel a clear need to defend my colleagues even if the actual cost to myself is minimal. Let’s hope they behave in a manner befitting new management and the promises made by Nick Rust to come together. Here’s your chance Nick

Of course the BHA have registered successes – more so from it’s rather under funded commercial arm – REL. The Champions series, Qatar involvement, marketing on a shoe string budget. This leaves the authority actually responsible for planning, integrity and regulation. It lacks any clear authority over racecourses to the detriment of the sport – and everyone has a job for life.

Why?

I’m convinced amongst appreciable talent in the BHA are a few individuals without the necessary qualities to represent the sport. In every walk of life it’s critical for performance to be achievably measured. Failing employees and managers to be moved out and replaced with stronger people. And what’s with employing a board lacking in any appreciable experience in racing? So they can be bullied?

A line from excellent columnist Rich Lee – worth quoting –

“ ~~’Has there ever been a racing authority that was not incompetent, lacking in imagination and dynamism, or out of touch with the industry’s needs?’ Guardian racing writer Chris Hawkins…asked this rhetorical question in 1996.” Plus ca change…!

In between times ‘Britain at the Bookies’ – little to say about this, rather dull if you’re not in betting- and feels like an advert for gamblers anonymous. Can’t help feeling this wasn’t a good idea

Goodwood. ‘Appointment with fear’ my Old Man used to say. A graveyard for bookies, some of whom are buried under Trundle Hill. Good news for the betting men with Hughesie retiring. He’s cost us a pretty sum over the years.. good luck to the legend in his new venture – a gentleman jockey.

And so we trundle on to York. Another track with a sense of style. A possible meeting for Golden Horn and Gleneagles? On a strip of council land. If you want to get in free, climb under the gate at the ten furlong marker and look like you belong..

Royal Ascot – 2015 – The Bookies View

www.geoff-banks.com/register.asp

Driving around Ascot is a pretty harrowing experience- streets full of burnt out Bentleys. Every once in a while you’ll pass a Waitrose, and really know you’re in a bad area.. they don’t do Tesco here – no matter what they make (? insert amount ??)

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The trick to Ascot is finding somewhere convenient to park- there’s an exit one way system which sends you back to Sunninghill (a mile away) via Biddlecombe (286 miles away)- You have to know the system or you’re stuck in the High Street for several days

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Flick knives and knuckledusters dutifully handed over, you’re greeted by throngs of gatemen. First thing you notice is how polite they are, they check what socks you’re wearing and smile. You see, at Royal Ascot- everyone feels like a Lord for the day – even if you’re entirely potless. Bookies enter with money, – they’re x-rayed on the way out to ensure they’ve left it all with the punters..

One enters the truly vast terminal- had it’s detractors when it was built, but these days thanks to ‘green fingers Barnett’ – the place resembles an advert for house and garden. Full of comfy armchairs- nooks and crannies to enjoy your glass of champagne. Uber civilised.Quality extends to every enclosure, a track run by toffs- but to everyone’s benefit – no enclosure escapes the personal touch – and you can escape the beer swilling hordes if that’s your bag

They don’t do Pomagne here!

And yes, they actually serve a bottle of champagne in an ice bucket, not a bag, and with a glass should you so desire. You see, if you’re not at Ascot, York or Goodwood, where they do things with panache- most tracks think you deserve a bowl or tumbler to drink your champagne from. Odd sort of business plan for your best spending customers wouldn’t you agree? Ascot hasn’t dipped standards to the banal trick of hiding customer service values behind health and safety. .

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Ascot also don’t do themed evenings for people dressed in football shirts..possibly because they take the view their long standing real racing fans might object to spending their days with Yah Yahs..

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But I digress

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When they rebuilt the old Ascot – some of the members said they’d never return. Well I suppose if you’re pushing up daisy’s and by extension possibly not reading this – that could indeed be true. For the rest of the ‘I’m never going again’ mob – it appears to my inexpert eye, that Ascot have built one of the world’s best sporting arenas – outstanding restaurants, bars and service. In a racing environment obsessed with sand , it’s refreshing to walk into an Ascot or York where the focus still remains what goes on around the track – not (perhaps) in a betting shop.

I spot Nick Rust, the new BHA chief exec in the throng – clearly his suit was made for someone bigger – he’s chatting to someone about ‘coming together’. I wonder idly if he’s explaining why they dug up Newcastle to create a terribly interesting series of races in a straight line. For this week though, exceptionally and perenially, we have the best racetrack in the world.

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The first race rolls around – there’s a lump from Hong Kong – ‘Able Friend.’ Our Gallic friends have sent over a Goldikova clone. Most bets are in euros, as the far east specialist proves more suited to racing at the back. Solow wins well and Maxine Guyon flicks a V sign at the toffs as he passes the post. I don’t blame him. The bookmakers rename the winner ‘Sorrow’

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The rest of the day degenerates into the stuff of nightmares for the bookie types as the Festival lurches from Prince this and Queen that . If it’s not the favourite, it’s the galactically talented Ryan Moore sweeping the board. That won’t go down well on the High Street.

People that know me understand I’m one for speaking plainly. I have listened to several respected scribes eulogising on about the rather evident talents of Mr Moore. Little question he’s probably the most talented jockey we’ve witnessed on the flat. It goes along the lines of ‘isn’t he magnificent? What a rider! And to those that know him – apparently quite a wit’

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Well, to the rest of us, who’d rather a jockey smile when he nails a Derby – he’s a thoroughly morose character – he doesn’t endear himself – nor promote the sport that makes him several millions in any way, shape or form. So no, I don’t find him admirable as a human being. Two weeks ago, we saw a brilliant horse take a Derby with a pilot who will do more for headlining the sport than Golden Horn himself. Leaping out of the saddle and engaging the crowd. That cost me a rake, but I smiled when I saw it. That’s what the fans want – not the taciturn one. He’s for betting – not for Racing. Shape up Ryan! Dettori, McCoy, Hughes, Walsh amongst many happily give of their time – you can’t manage a smile??

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When you look at the results, you could easily conclude they didn’t look that bad for the bookies, but I suppose it was the combination of several favourites going in – and if they got beat, it was either Moore or Dettori on top. Thursday I think was the most entertaining betting day – with Moore bashing the firms with a 14/1 opener followed by a 5/1 winner. Payouts could potentially dwarf the Mullins quad at Cheltenham.. (Thanks Annie)

One major off course layer went into hyper drive sending nearly a quarter of a million back for Kingfisher in the Gold Cup- all those 10p accumulators, at guaranteed odds, I expect suddenly come to haunt. This time it was Maxine Guyon to the bookies’ rescue as he held Moore on his inside – causing him to switch paths at the critical stage. For me the week’s unlucky loser. For the major bookie involved- several pence retained on their share price. I expect they were not alone in hiding under their sofas as Kingfisher turned for home..

Racing festivals haven’t been that great for the firms over the last few years. Most lead with fabulous offers and price boosts created by their marketing departments. Combine that with a dip in on course margins – polarisation of expensive horses shared by a select few jockeys and trainers, and you have a problem for those betting on the product. Expect you’re reaching for a Kleenex right about now

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Racing starts every day with a race for the Royals from the mile start in their fancy carriages. Now I’ve watched this for more years than I can remember- never once has anyone tried to pass the one in front. Surely I can’t be the only one who’s spotted the biggest bunch of non triers in racing?? Fair enough, they put on a good show, the whole event surely organised to give the bookies another betting heat to do their brains in – namely the colour of the Boss’s hat. But I’d like to see more effort from those in behind..I know I speak for all concerned who back the second carriage every year

God save our Queen..you won’t see a pageant like that at Goodison Park..a uniquely British summer scene.

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I took one wander down from the Royal enclosure towards the Silver Ring. Ascot is so vast, the silver ring is nearer to Egham. As enclosures go, it’s really quite well turned out. I walk as far as is possible before the waft of chips overtake that of Chanel.. There are bookies all the way down the racetrack, making noise, taking bets. I wonder what will happen to the very flavour of racing when the tracks inevitably take over the betting. Don’t think we don’t know what you’re about, with your expansive plans for data charges etc etc – we’re on to your tricks!

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Racetrack bet however, could do well at the festivals, I don’t think the punters are in any way price savvy, we know that from Chester – they just want service. But the diet of midweek racing we’re fed by tracks-horsemen-BHA, has leant itself to poor attendances from both customers and bookmakers. What’s the future without the ring? My dream we wake up before it’s all too late – the major betting firms have deserted racing for football and roulette. I suppose then the sand will go back to the bunkers. No Big Jim, Barry Dennis, Victor Chandler

Imagine a world where an exec at Channel 4 suddenly decides the network should quit racing, in the face of the often ridiculous criticism of a show affording the sport 44 cameras and the best coverage it has ever experienced. By comparison the BBC with its almost ‘cottage’ coverage. Racing feeds the network a diet of 5 runner group races almost weekly and wonder why the numbers are down- then makes it awkward for them to show alternate meetings in its coverage and ignores Channel 4 in any decision making processes at the highest level. Remember, they can make more money for less hassle from ‘Everyone loves Raymond.’. Don’t think the BBC will come back to save Racing from itself – they barely mention the National

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Racing has an awful lot invested in very few options. Royal Ascot is amazing, but if Aston Villa play Scunthorpe it’s likely to pull in more sponsors, viewers and press coverage. The next few weeks Racing will go into its shell from Sunday to Friday, bang on 7 meetings on the Saturday, and bolster attendances with pop concerts and a grotesque obsession with selling as much beer as possible. Hmm, get back to the Racing. Ascot leads for me with the right balance and never loses sight of its focus on the Sport

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It’s not supportable, but with a regulator fascinated by commerce, rather than how is the sport best served and gels together, – a board of novices to do as they’re told? As Nick Rust so accurately describes- the underlying trends are declining. He’s just not going to do anything about it. Sorry Nick, I don’t do sound bites. I did enjoy your BHA seminar though, with Rod Fabricious harking on about artificial insemination.. not sure who he wanted impregnated though..

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Fortunately there’s enough quality in York, Goodwood, Cheltenham, Chester and Ascot to name a few to keep British Racing at the very top of the world order, British racing has a unique calendar of major Festivals. I wonder if there’s an RCA man reading this, sympathetic to the view most racetracks are struggling with an identity crisis? A racetrack, a greyhound track or just a vast pub. Here’s one to mull over – try proper segregation of long standing racing fans, who don’t feel to have beer spilt over their girlfriends, or even the often threatening environment, from the oiks that do, – rather than selling all in sundry a pass to the members enclosure, keep some areas with civilised folk in mind. Possible? I think also a lot of racetracks need to integrate their thinking with the words ‘social responsibility’ rather than ‘sales’

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Early evenings at Ascot are spent gate crashing car park parties and pretending you’re one of the owners. Everyone standing quaffing champagne, leaning on their Astons, in an age old and endearing slice of the great meeting. It’s my time to get asked by people stuffed with my cash, how much I’d won that day.. (where’s that sharp knife?) Everyone turns up without being invited – ‘Who ARE you – and why are you stealing my champagne?’

How good was the meeting? Well to my mind pretty outstanding. How does it compare to Cheltenham? Well they’re rather chalk and cheese. Ascot is very much more about the social scene. But there’s no loss in focus on the racing. Quipco have stepped in. There’s a new Group one sprint attracting foreign raiders that really works. It has management focussed on quality at every turn. Entrance charges to the meeting aren’t steep – considering what is delivered. Cheltenham has a different feel. Far more the betting event, with months focussed on it’s feature races. The two great events provide balance. Is it a bit toffee nosed? I don’t think so, sure the babies are on Smoked Salmon, and they tow away Ford Escorts, but one has to keep the Riff-Raff out 🙂

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See you at York – could it possibly get any better?

Response to SP regulatory commission

Response to SP regulatory system – consultation

Former NJPC chief exec Clive Reams, recently penned a letter in response to the criticism levelled at the SPRC, after the Grand National, advocating ‘no change’ to the SP system. When the current mechanism was devised in the 1990’s he argued vehemently against the then proposed system whereby 5 bookmakers could govern the SP returns – as ‘a bookies benefit.’

Of course he was at the time in violent disagreement with a system being proposed where the largest five firms produced the SP’s. And of course he would have been right. To permit those same firms to control the returns, when their off course empires were of such high worth in comparison to a veritable ‘cottage industry’ – would clearly disfavour punters. Any notion of those same organisations using their on course positions to actually bet competitively – and disfavour their huge shop and mobile empires, would have been nonsensical.

Yet now, we see that same official arguing in favour of the current mechanism. Despite the fact that same system has been modified several times, to permit now as low as three trading on course bookmakers, not only to provide an SP, but importantly the shows, otherwise known as board prices

Mr Reams hasn’t been seen in the betting rings for many years to the best of my knowledge.

It’s my conviction the SP mechanism – in its current form, was practicably out of date shortly after its inception and requires thorough modernisation. Not abolishment.

The commission, in its call for responses to the system, makes clear it supports little to no change to the system. That we are afforded a workable and simple mechanism, which provides for such as guaranteed odds against SP. Why the commission feels ‘board’ prices would disappear in any revisions is beyond my understanding. Perhaps to scare people into the false belief that show odds would be consigned to the bin.

We already utilise industry odds in some meetings – Meydan and Longchamp for example. There’s no argument to support the commission’s assertion a system based on track bookie’s odds- is the only one which would support guaranteed odds

It’s rather apparent the SPRC depends upon the advice and views as reported by the press association staff, tasked with returning a fair SP from the racetracks. They are neither witness nor party to discussions between bookmakers – and their customers. Their honesty is not in question here- but they clearly cannot have the ground level experience to report accurately what is really transpiring.

The commission will also consult with the FRB, namely Robin Grossmith for his advice. Whilst Robin is a respected colleague of many years’ experience, it should be remembered that an important part of his remit is to secure payments for on course bookmaker’s data. He would naturally argue the system as working in a satisfactory manner – and without any knowledge or understanding of how the mechanism, currently being employed, affects off track companies. Most track firms care little for the impact their activities have on the wider betting community

The dynamics of betting have fundamentally changed in the last 20 years, whence the current system was put in place. In that time changes have been few and limited in nature. 20 years ago a pitch at Sandown at the top of the rail would have been worth well in excess of £100,000 – and very hard to come by. These days – those same pitches can be purchased for less than a third of that value- and with minimal interest, most certainly not from someone trying to get into racecourse bookmaking as a career! In the same 20 years- the average turnover per race to on track firms would have declined to not less than 1/6^th the value of the late 1990’s. Midweek racing has declined in interest to customers to attend. Rings are often ghost towns. Few punters turn up, and in a cashless society they have less to spend with bookies trading. Mobile betting apps have taken over – being more aggressive in nature, easy to use, from funded accounts and related to offers. Racetracks have taken over betting at some tracks –and this new competition to the business a track bookmaker is afforded will have significant impact on their very existence.

My average midweek turnover, as a leading layer, in strong betting positions, is now routinely less than £500 a race- if I bet in any way sensibly. A risible figure. For this reason I rarely attend midweek fixtures. Nor do many of my colleagues. The only way to buck such turnover figures is to exceed exchange odds, then to risk arbing from other bookmakers. If a bookmaker does not offer a pure exchange price on a ‘fancied’ runner- it’s difficult to field any appreciable money for it

Bookmaker numbers have been shored up by some firms operating multiple positions. One bookmaker (John White) operates three positions at Kempton – a small ring as you are aware. Kempton – for example, routinely operates with a sample of around six firms – they are providing prices for a huge off course industry, from a venue where few punters turn up to bet

At the same time as this decline has been evidenced- the off track firms have increased in size, technology advances, and power. Where once betting rings were vibrant and busy, with standard place terms, minimum lay to lose guarantees – and by extension a useful ‘guide’ to SP’s – now they are ripe only to cheap manipulation of their odds. Huge multi national betting concerns can control a weak market with veritable pennies. This imbalance would simply be outlawed in any other financial sphere. It is important for the SP commission to give this point full consideration.

VOLUME OF RACING

Since 1995, and importantly in the era of Peter Saville at the BHB in 2005, the volume of actual meetings has soared from around 1000 annually – to 1450 currently. Racetracks have also focussed their business more towards Saturdays and providing cheap funded product. This has had a thoroughly negative effect to the turnover on track and split the punters interest between meetings. Further a customer can now sit at home and watch either ATR or RUK on his satellite – even watch live streaming racing on the likes of Bet365. All have had an entirely negative effect to bookmakers on track. In the same period the expenses of running an on course business have soared. Many bookmakers have quietly retired from the ring

RACECOURSE DATA TECHNOLOGY

In the last 20 years or so most firms now utilise software provided for them by RDT. The build of their system and its layout is specifically designed to facilitate easy wagers to and from exchanges. A wager can be practicably negotiated faster than on a web browser, a whole set of prices backed, or an entire position closed out. RDT receive a commission from Betdaq for such activities. Such software did not exist in said advanced form when the SPRC devised the mechanism in the 1990’s. All bookmaker software on track is designed to facilitate wagers with exchanges. It has caused a sea change in how bookmakers engage in business on track. They differ from their off track colleagues in that instead of being viewed as traditional ‘layers’ – balancing books with real money, they have metamorphosed to ‘traders’

TRADING

What should also be considered is the wholesale change in the approach by on course bookmakers to betting. When the mechanism was put in play, the majority of firms were traditional in nature. That is to say they were in the business of framing a book and accepting risk. This has fundamentally changed. The vast majority now ‘trade’ many wagers away with exchanges to create margin and keep risk levels low. In order to engage sufficient liquidity to make this practice work – prices must virtually mirror those available on exchanges. For example – a firm will typically offer 4/1 a horse for any variance on an exchange from 4.9 to 5.4. If the operator is lucky, he will be able to trade at 4/1 and hedge at 5.4 – bookmakers have become the new ‘arbers’

There’s little discernible difference between ‘show’ odds and exchange odds for the more fancied runners

Off track firms are, by extension, accepting wagers – and risk, on shows therefore based almost purely on exchange odds. This is a far from healthy system – and a central plank for lower levy returns – down over 50% in recent times. Most bets are accepted at board odds- rather than the more ‘protected’ SP returns. Off track firms do not ‘trade’ wagers in the manner in which on course firms do. To boot, since the shows being returned are up to one minute behind changes in exchange odds, off track firms find themselves subject to arbing from punters. This business is unprofitable and most bookmakers close accounts from those engaged in this practice. Such moves are unpopular and leave firms open to unjustified criticism.

THE STARTING PRICE

Let us consider the actual SP – in practice most track firms have stopped trading aggressively, or at all – it’s often too risky to bet to exchange odds and risk a sizeable wager which a bookmaker cannot trade, with the exchange, in the limited time before the off. Prices are revised downwards throughout the ring – or unavailable. Most books are structured and the operator is loathe to change it. Large operators, such as William Hill on course, are naturally particularly mindful to ‘bet well’ with one eye understandably on their important off course entity. In my experience their returns are given considerable weight in any return. SP’s are, in practice, more favourable to the industry for these simple reasons.

There’s habitually a considerable difference between exchange SP’s and Bookmaker Sp’s

PRICE REVISIONS

It is common in circumstances to hear criticism of course bookmakers for failing to balance books by pricing up horses which they have not significantly laid, at times when they take substantial monies from legitimate hedging activity happening fast and late throughout the ring. Through the year we will hear many examples- the Grand National being a notable one, of an overround which disfavours punters betting at SP.

This is fairly easy to explain- since most track bookmakers are less ‘layers’ than ‘traders’ . When they do catch late funds for a selection, they are far more about dealing with trading the wager profitably on exchanges. In the 1990’s – most firms would have been trying to balance their books by raising the prices of other runners to compensate, if you will. This is no longer necessary with the advent of betting exchanges and software dedicated to trading

Further, the notion that bookmakers should counter raise odds when there are often no punters to offer those odds to, is fanciful.

Finally, large entities sending money back to the tracks place their wagers as late as practicable, certainly never 20 minutes before the race for example. Again such practices, as in the likes of FOREX, would be viewed as questionable. Is racing somehow different? I am not suggesting they are not fully entitled to boss the SP’s, but there are issues of scale and timing.

SAMPLE SYSTEM

The current mechanism employs a bank of up to 25 firms at the largest meetings. At the lesser meetings it is exceptionally difficult to find 25 firms, betting within the commission’s guidelines, to return an SP. The SPRC has revised the number of bookmakers required to return an SP to below the level which caused such upset between the NJPC and the commission in the 1990’s, when 66 questions were tabled on the subject The commission has also modified what it permits to return a show to below the accepted industry standard terms and without requirement for a minimum ‘lay to lose’ figure.

At York’s Dante meet recently, I was one of only six firms in the whole ring, to offer an industry standard ¼ the odds a place in two 16-21 runner handicaps on one day, whilst the rest of the ring were legitimately offering a 1/5th. A bookmaker betting to a fifth in said instance could offer 25/1 a horse – whereas I would only be able to offer as low as 16/1. How does the commission handle such anomalies? Or where the favourite is odds on and all but a couple of firms are betting win only? Once again the sample is nowhere near that required for a fair SP, nor takes into account it is supposed to mirror standard terms off track to be seen as accurate – that is if there were appreciable monies to bet to. There are many examples of such cracks in the system throughout the year, which would not be evidenced if we had a system properly balanced by the true weight of money wagered on a race

We are of course well aware that the Grand National return in no way accurately reflected a fair return. Whilst I would argue that 1.66% per runner is by no means excessive- the truth remains the show embarrassed bookmakers on course, and will lead to customers choosing not to wager at the racetrack at all. Many firms were offering 9/1 the favourite – which was returned at 6/1- at the same time the exchange was offering 14.5 on Shutthefrontdoor.

The simple fact is the use of ‘SP Samples’ as a methodology for returning prices (especially where 5 of the 25 firms in the show represent major off track business) is clearly far too easy, and inexpensive, to control. In practice it’s fairly evident who the firms are that are part of the sample

Bookmakers not included in the sample are routinely ignored. Bookmakers within the sample are often asked to accept wagers at less than the odds they are currently displaying. Particularly at small meetings. Is there clear and incontrovertible evidence that this goes on? No. It is however, quite routine to be asked to ‘co-operate’ on shows in return for the crumbs off of a large concern’s table. If you co-operate – you benefit.

IS this system of hedging fair? Not if a wager is proffered ‘with hooks’. Any discussions with other firms will confirm this is precisely what goes on. It is totally acceptable for a large concern to wager to control a price which reflects the full weight of money. But not where said concerns can control a the market for such a tiny outlay and by openly requesting the bookmaker to cut his odds in return for a nominal wager.

WEIGHT OF MONEY

What should concern the SPRC, is the effect on a fair mechanism of such large concerns wagering with such a tiny entity as three to eight bookmakers trading an all weather track for example. What also should engage thinking, is the possibility of manipulation of weaker exchanges on small markets. Especially when one considers RDT controls well in excess of 90% of on course firms and produces software designed specifically to encourage the practice of trading. In reality, it is Betdaq- the weaker exchange of two, who govern on course returns. In my view this could be viewed as a cartel. It takes a tiny movement of exchange money – typically less than £10, to be followed by several on course layers.

INDUSTRY PRICES

Why have off track concerns not called for control of their own SP’s to date? Two factors explain this anomaly

First, and rather obviously, where the SP itself is required to be revised downwards, it can be easily controlled in a market devoid of regular punters with a very small ‘hedging’ fund. Large concerns represented on course can constitute up to 50% of those available to govern an SP. Especially as the SPRC mandates that in the strongest rings at our festivals, only up to 25 firms are required to return the show. Hedging can therefore be restricted to just those firms. This is precisely what occurred at Aintree. Indeed one pivotal operator, running multiple pitches, informed me ‘where he was in the sample, he was 6/1, – where he was outside the sample – 9/1 about the favourite’.

If all operators are betting to the same commercial terms – there’s really no need to limit the number who return an SP, and it’s clearly a system which fails the means test in such areas.

Second – what concerns major operators off track, when one considers the issue of industry odds, is how their competitors would behave were the mechanism revised. Would, for example, an aggressive operator such as Paddy Power- buck the general acceptance of a new industry return by producing its own ‘enhanced’ SP. As things stand currently – everyone accepts the status quo, warts and all. Of course most firms would prefer an accurate industry SP, not based on exchange odds on course, but the elephant in the room remains their competitors

With the disappearance of John McCririck from television schemes – a major obstacle to industry odds has been removed

OVERVIEW

Centrally the landscape of betting is unrecognisable – were we to compare it with 1995.

The SP regulatory commission is recommending we keep a system where the ‘show’ odds for fancied horses directly mirror exchanges and where the SP is ‘protected’ by circumstances. Where small time traders – desperate for any bettors can be easily bullied by larger operators and where punters feel they are being cheated (unfairly) by track firms.

We are long overdue constructive change. I welcome this consultation

Proposals.

On Course bookmakers to compile one fifth part of a new mechanism, only where there are an absolute minimum of 25 separate entities available to return an SP
Those 25 firms must be betting to recognised tattersalls standards in every race they are engaged to return the SP. Modified terms can not be accepted
At least 25 firms must be available offering a full each way service to return an SP
Sample system to be totally abolished on course. All firms betting to standard tattersalls terms to be included in the returns
Track bookmakers who wish to include their data in any new return, must undertake to lay any advertised price to a minimum of £100 – to include to other operators.
Four fifths of the new mechanism to involve the 19 largest operators. These operators to include Betfair and racetrack bet
Betfair’s SP can only be taken from their each way market
Industry odds governed by weight of money and by provision of prices to SIS
SPRC to consult with operators to produce a formula which most accurately reflects an operators liquidity – and therefore influence on the SP

Geoff Banks

10 June 2015

The BHA – Acting in the best interests of Racing or Stakeholders?

It’s become routine these days to hear and read informed commentators, pundits, industry experts discussing the issue of small fields in racing, indeed last year the BHA undertook an expensive consultation into fixture levels in an attempt to combat the issue of small fields and lack of competitiveness in racing.

The result? More fixtures in 2015

BHA announces races attracting small fields will be deleted from the programme

The result? No races removed, a three month trial period suddenly introduced, and one deleted race restored in the face of opposition from horsemen

9 new board members with little, or no experience running racing, at the BHA. Two of these new directors have been appointed to ‘bed in’ six of the others. Tell me you’re joking, or have the stakeholders grabbed two important ‘blockers’ on the board?

The BHA announces the scrapping of small field events to address the appeal of the sport.

The result? The BHA backs down in the face of opposition from the trainers involved in the race and the NTF. It goes further in placing an NTF official to the BHA Board. I’m sure he’ll be supportive of an initiative which followed an expensive consultation.

What’s the value in an authority that doesn’t govern the sport with its best face in mind? Someone tell me.

After the removal of the best politician we’ve ever had in charge, Paul Bittar, from the equation we’re left with an entiely new board, in every sense of the word. Opposing these new directors – the stakeholders. Betting, Owners, trainers and racetracks and their interests. And they’re clearly out for what’s best for them, even if the sport cannot progress

Do you care? Or would you classify yourself as one of the silent apathetic ones- to criticise the sport is wrong, it’s just not done. To my mind, constructive criticism is a requirement and you should get involved and stop taking the guided tour

Quite what the Australian did wrong or whether he had just had enough is unclear. Nobody is asking the question. I didn’t always see eye to eye with Bittar during his tenure, I’m always going to take issue with the pace of change, but it’s clear he shared many of the same concerns. Particularly in regards to ‘stakeholders’ and their negative impact on the sport, and integrity issues relating to low funded racing we seem determined to produce more thereof. He was capable of pulling the disparate parties together given time. Continue reading “The BHA – Acting in the best interests of Racing or Stakeholders?”

Cheltenham Open Festival- The Bookies Eye

I know the National Hunt season doesn’t really end with Aintree, it burbles on without it’s stars through the summer. I’d like to see it curtailed for a month – perhaps in June when Racing is so resplendent with riches such as Ascot and Epsom. For me, though, the season really starts with Cheltenham’s excellent ‘Open’ Meeting.

It needs a new title, because Open doesn’t do it justice, and we need Festivals in the winter, perhaps they should call it ‘The Tweed’ – it’s the only venue which accepts folk in that ridiculous garb. Children point and stare – you can’t blame them..

For me, it’s suits. I pack several to go with the alternating seasons Prestbury affords us. I pick up the delightful Miss King and head off into the rainstorm. I talk, she texts her boyfriends and updates her facebook. It’s an odd relationship. I’ve become dull

There will be a few of you who accuse me of using sex to sell betting tickets. All true. Don’t write to your MP or call the cops. I admit it.

We stop at what used to be the Hotel De La Bere, to pad JP’s income. I read the paper, Stephanie has a text argument with one of her spotty friends. The office bombard me with calls, on bets we shouldn’t be laying. Disappointingly for a Bookie who works indoors at 72 degrees ambient, the sun has come out, and will wreck my takings

The bastard.

Friday isn’t as busy as Saturday for the Bookies. We work hard at offering a service not only at Cheltenham, but at the ‘away’ meetings. I’m glad I had Mick and Vicky dedicated to paying out, because Wolverhampton was on. Hitler should have bombed Dunstall, I wouldn’t have minded speaking German then.What I made at Cheltenham, i gifted back to those betting at Wolverhampton. The decent people of Jockey Club stop by for a chat, they’re comfortable in the product and with good reason. People vote with their feet, the attendances are good, and racing needn’t always be seen as a vehicle for the Ladbrokes Life. JCR are experts at Festival meetings and I admire their sense of decency.

I’d like one day to persuade this influential body to see exchanges outlawed from bookie software on course , it’s a thorough cancer on service, and emptying the sport of money it deserves. Make sure you support me here if you value the flavour of the betting ring or I will ignore you at parties.

As a sidebar, people who bet at the All Weather don’t wear tweed, they’re known as bonus junkies. They scout around for ‘free bets’, – never go racing, – just sit at home in their underpants ‘greening up’. Sand racing is for camels, but we’re stuck with it, it seems. Don’t blame me, I can’t stop the fascination with grunge. Saville is a sick man, he’s hoping Jesus makes a comeback and performs a loaves and fishes trick on field sizes, with rocking horses to bolster poor fields. I wouldn’t be surprised to hear 68 fixtures being awarded to Comet 506b (taken from York.) I mean it does have the perfect racing surface..

It’s not busy on friday, so Mick finds time for a hug. He’s a charmer and ‘The Rinser’ doesn’t work that hard. Here’s one of her, not on her phone, with my main man

Friday night is a predictably boozy night in a gorgeous country pub. Everyone tells stories, – mostly lies. My favourite is telling everyone I was in the SAS, which I think everyone believes. Mick orders the fishcakes and is crestfallen when they offer us free fishcakes, by way of canapes, at the bar. He doubles up anyway.

Saturday dawns, The Morning Line tips all the favourites, Paddy Power makes me chuckle and the show hums along in entertaining style. They have someone on from Timeform, I’m glad he didn’t launch into an explanation of ‘Sectionals’ – probably gagged I expect. I wish people would stop whining about Ch4, we’re all so damned fussy about what we want to see, and my good friend Barry Orr and his x ray specs represent good value as a stand up comic 🙂

We arrive early at the track, the crowd looks substantial. Entrance fees are very fair, the track looks the business. Cheltenham is the class of National Hunt. Except for those odd plastic beakers they dosh out to customers in their lovely Golden Miller bar. The only mild blemish for me. I give the catering boss a hard time for flogging me an £85 bottle of Veuve in a kiddie cup. He tells me glasses are a health and safety issue. I ask him what the champagne comes in. He says he will feedback my comments..

The Centaur has a brash new screen, 6 hard working Bookies, the Magic Sign and Tote. They serve clods of Guiness, so everyone has their bet, farts and leaves us with the smell. I suppose given the results that’s about fair. We massage a victory. It’s very busy. Do we bet a bit better than outside? Yes we do, a half a point here and there, but we’re in business and our focus is service, not begging a bet. Besides, most traders outside don’t understand the concept of ‘sustainable margin.’ Punters are a fair lot. They just want to be treated with respect and I find most would rather they found Bookmakers who lay a fair bet and pay up with a smile. We don’t do ten pound offers, we leave that to the really BIG bookies. I’d see that outlawed when I’m in charge

We take just over 2000 bets, we don’t have any hedges, they’re for gardens. Results go in favour of the punters but I catch a break with one favourite actually winning me money and I walk away heavier than when i arrived as the punters clap me out. We peel off the bets as fast as we can and try to pay out with the same alacrity where possible. A customer with his money in my pocket isn’t wagering in the next. Punters climb over the weak and infirm to get on, experienced pensioners trample young fit men to get on. As far as we know we didn’t lay any 17 year old Gambling Commission stoodges any bets. But you can’t be too sure..they’ll write to me I expect. I don’t fancy my chances with Mrs Williams

There’s no other way to describe the Racing on offer than exhilarating. Horses that looked done in, walked all over, came back to win or held on. We were lucky with one of Geraghty’s- Druid’s Nephew, who ran too free and got under his fences, but jumping is the game. Cheltenham tends to offer some of the most unpredictable finishes in the Sport. Some horses turn in going easy and flop, and others, like Caid Du Berlais, whose jockey supplanted whip for cattle prod. It’s the very soul of National Hunt racing. I understand why the track dominates the code.

I recall one slightly inebriated looking fellah who walked up to me, gambling commission plant methinks. I lay him a bet.

‘tenner each way on Budweiser’ he slurred, displaying his opt out of gambling forever card

‘Don’t you mean Buywise Sir?’

‘Err, yeah, sorry, er, repetition, you know, – been drinking for four days, – where am I?’

He loses his money. Well, to be fair, 13 year olds shouldn’t be betting- and no mistake..

A couple of suggestions to friends in charge to improve the quality of winter racing. Do away with both Jumpers bumpers on the all weather, as well as ‘racecourse gallops’. It’s time to force the stars back to work in races which struggle for quality entrants. I know you’re all looking at each other round the board table at that one.

Saturday night is predictably good, another beautiful Cotswold pub and a few bottles of the firm’s champagne to reward the team for looking after my clients. They guzzle as if its their last, particularly ‘The Rinser’

Sunday is predictably quiet, although the racing remains competitive. The day starts with the shock news of Dessie Hughes’ passing. A minutes silence is strictly observed as we watch replays of the mighty Hard Eustace, as if we needed reminding! Many Bookies turned their boards off and I didn’t hear anyone talking in the ring. A great tribute to a legend.

One odds on chance at the meeting is all, a load of great finishes, punters and bookmakers alike celebrated a great trainer, the gate staff are the same people the track has employed for years, the views remain beautiful, – the Open became a showcase for two decent fellahs, Phillip Hobbs and Richard Johnson. Little wonder the season tends to revolve around this jewel in the Cotswolds

Put fifty pounds in the box on your way out. Thanks

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 2014 Cheltenham Festival – With apologies to no one

Two things I absolutely cannot abide, – gloaters and past posters. Me? I truly fancied Lord Windermere and Very Wood – I just couldn’t get on. Never mind though, I won an awful lot of money on Friday, you’ll be thrilled I know. Can’t wait for the girl at the Bank to ask me where I found it, like they always do. Love a bit of amateur detective do the Banks. Taking a break from fixing the Libor rate I guess (Go on then, make my day, sue me!). ‘just closed a big arms deal’ my normal response always gets a laugh from the people in the queue as they crane their necks to find out what I’m doing. Typically the tellers look a little nonplussed, moaning that the heads aren’t pointing the right way whilst people tut and nod.

Was this an outstanding Cheltenham? Well, I suppose it was in many ways. I’m not going to blow sunshine up JCR’s backsides, because their cheques stopped arriving. However, they do seem to have a clue about putting on a classy event well and not over charging. I don’t see £35 in advance as draconian for such an event. Of course, there will be a few cheapskates who think they should charge a tenner. (Could stand on Cleve Hill for free?)

There are a few gremlins, like a big screen in the Centaur that keeps breaking down and clears the place quicker than a fire alarm. Or the catering mob that doesn’t appreciate the Champagne bars are full of nobs- and they don’t do plastic at £83 a bottle. Minor gripes aside, it’s an extremely well ordered event. Take for example the race starters, I don’t think anyone could fault the skill involved in wearing a trilby like that in the wind, whilst despatching 20 runners off, when someone’s always trying to jump the gun. Professional gripers moan there’s too many races, and – or people there, which is an odd complaint. Could always go to Kempton of an evening if it’s space you crave, and tumbleweed you like to see through the betting ring

What’s it like being a Bookie? I know you lot think it’s a doss, we turn up and win, but the reality is considerably tougher. Sure, Cheltenham is riddled with Bookies – that’s what the people come to engage with in the main. Midweek Racing, however, is dying a death. Crowds are very sparse and by extension so are the Books. Personally I haven’t attended a midweek event other than Ascot, which is but a mile away. If I can’t turn over a minimum of £1000 a race, it’s not worth me standing, and it’s down to £300 midweek at some events. You see people expect me to lay them a fair bet, and compete with firms following exchanges to £20’s. It’s a recipe for failure. If I opened my shoulders as a layer at most of these events, there’s no amount I could and would lose. Don’t get me wrong, I’m not complaining, I’m just trying to put you in the picture. http://www.justgiving.com/racetrackbookie.org.mugs

It’s true a lot of people bet on their phones, and it may also be the case that the new signals will make that easier. What’s the outlook for the track Bookie? In truth it’s poor. It isn’t helped by tracks doing deals with remote gambling outfits like Bet365 with free wi-fi for their customers. Before you lambast me for appearing to lag behind the times, let me give you a reality check. Major Bookmakers and Exchanges bettin remotely, ie not at the track, paid Cheltenham to provide free fast internet so people at the track could bet with Gibraltar. The same amount in fee terms as 15 racetrack Bookies. Indeed racecourse Bookmakers contribute to JCR’s coffers in pitch fees alone over £400,000 a day through the Festival. And a lot more if you include their entrances, marketing fees and so forth. Should BetVictor get the same privilege for the same consideration as 15 little Bookies? I’ll let you decide. Were we consulted before the deal was struck, or our fees reduced to compensate us? No. Going forward, I believe tracks ought to consider very carefully the long term implications on Betting for every penny of revenue they seek.

On the plus side, I’ve always found JCR a thoroughly professional outfit, and I mean not to unfairly single them out. It’s true they have invested a great deal in wifi, and all things have to be paid for, and their profits stay in the sport, which is praise worthy. But if it’s a revenue exercise, then we shouldn’t be paying so much when we’re taking record low monies. JCR were the first to employ a senior manager who’s brief is to look at just such matters, and to understand and engage with us. They were also the first group of tracks brave enough to assist us in standardising the each way terms, in banning pitch linking and renting. These are positive steps, and I’m a fan of their style. In raising the subject, I’m looking for all tracks to involve their Bookmakers in every commercial deal they undertake. If that is, they value their betting rings and the valuable income we both generate and bring in.

Anyway, what’s with these jockeys? You know the ones, the jumping types with the easy life, the show offs – crashing through rails, flying through the air into hedges, diving onto tarmacs, then leaping up declaring ‘I’m fine, just a few broken bones – where’s the horse?’ I mean Jacob tries to walk back to the weighing room, rattling – what’s that about heh? As for Walsh, deliberately rolling under his horse, a party trick for the legally insane. I’m a bit of a horseman myself, I fancy I would have rolled away artistically and waved to the crowd. As for McCoy hobbling around on the telly – he’s just trying to get the odds up. I’m on to your game 🙂 Seriously though, we are rewarded with bravery and commitment of the highest order out there, the last two years ample proof of the value of these pilots.

I did the morning line on Friday to get the free breakfast, and for those of you who were watching with the sound down, I told you I loved handicaps, I do my own hair, and I was going to rob you senseless that day. Can’t be fairer than that in a Cheltenham, that needs moving to Christmas thanks to the Casinos. I mean my Old Man and Bookies like him turned the place into a hell on earth for punters. What happened to our ruthless streak? Horse Race traders at the big firms must be pulling their hair out at the hefty margin erosion from money back specials, as they follow the orders from clueless Marketing types. In what other industry would we witness such gifts?

Gold Cup day, fortunately, didn’t follow last year’s script, when you all got fat on me, giggling and laughing as you left. In truth, if Stevie Wonder took up Bookmaking – he’d have won on the Friday. The ambulance won twice. The Stewards panel, backs to the cameras for their big TV appearance on the Gold Cup enquiry, had the Bookies on tenterhooks hoping a 20/1 chance actually won a Gold Cup. Over the next week I’m sure we can look forward to Bookies PR reps, telling us they won 12 billion this week, – in £10 bets. That’s nearly a hundred wagers.

I want to talk to some of you about your dress sense. It’s not just that you get dressed in the dark, it’s that you shop in TK Max with a blindfold on too. I know you’re potless and the thought of buying a pair of strides over £20 fills you with horror, but I say this – if you’re poor, try not to show it. As for the rah rahs in tweed? Haven’t ANY of you realised why it’s always in the sale? One day you’ll notice people prodding each other as you strut past.

As for the berks wearing the Guinness hats on St Patrick’s Day? Or the equally delightful and tasteful orange scarves the fillies give away for free outside? I wouldn’t have them as cat litter, but that’s just me. You enjoy. People love a freebie

Chump Bookie award of the week goes to Greg Hughes who bets number one on the rails. He’s paid a fortune to bet in the best pick, which should afford him to bet well. Instead he delights by offering exchange odds. Odd business plan. He managed to clear out the top 8 firms below him on Friday, all departing to various corners of the track to escape this particular terrorist. And yet, he would have cleaned up on Friday, doubtless spent the evening telling his Missus ‘mine is de only way.’ To clear up all doubt, every Bookie won, even the daft ones. Good luck Greg.

Ride of the week goes to Rishi Pershad of Channel 4, who trained for months how to cling on to a racehorse – after the saddle has slipped. Rishi won’t be using his balls for anything other than ballast for the next 8 months..

A brief plug for the BHA. Fudging the only contentious issue which could mar the great event – taking a 12% punt on Last Instalment not winning the Gold Cup. That would have made the headlines for all the wrong reasons.

Thanks also to the punters in the excellent Centaur, many of whom came up to shake my hand and take me on , bet with my lasses, fart and leave. It really is the smelliest place I’ve ever been in. If anyone is going to Japan in the near future can you bring me back those little white face masks they rock around in? We took a little over 2000 bets a day, a little less than usual because The Lord decided he’d give us sunshine and wreck my turnover inside. Thank you God, normally you’re a Bookie aren’t you?

A mention for those same punters for the good spirit in which they handled adversity, and for not a single instance of anyone short-changing us. When you take nearly 10,000 bets that’s something to say for the honesty of folk. Fine, I came off best this year, I’m sure none of you would begrudge me that? (Except the heckler at the back – yes, you!) Remember though, many Bookmakers jumped off the Grandstand last year when 4 favourites obliged on Gold Cup day. As to those of you who came up to me and asked after Faugheen, Sire De Grugy and Balthazar’s King had all won at short odds how much I was winning? I think the slates have definitely fallen off of your roofs.

A mention to my ‘Betting Babes’ – Naomi, Kat, Jenny, and Vicky for their hard work in extracting, with a smile, every penny stitched to each punter, some by force. – I thank them for their hard work. Yes, sex definitely sells – stand and oggle away. At least we don’t look or act like a machine, and you get a real life horse to cheer on. Surely better than 3 lemons.

Well done to all the ‘lesser’ trainers for their success – deserved for sheer enterprise, especially the Moore’s for their guts in taking on Sprintre. I hope we see more horses going their way, because the practice of cotton wooling and avoidance tactics which has characterised this great sport over the last three months deserves exactly what it got at the Festival. Failure. Short field Arkle’s aren’t my thing.

To all my pals in the gambling commission, – yes the mob who think it’s fair game to back a dead horse in running, now on their annual 11 month break before it gets around to billing dopes like me, I want to give the following assurances on my compliance. Yes, I asked everyone if they were drunk, if they were putting on a bet for anyone else, and if they might be inebriated. I went even further than that though, – I made sure I had a pile of self exclusion forms, so anyone who was doing his cobblers could ‘wave the white flag.’ I’m a good boy.

Yes, Cheltenham is THE Festival – See you next year mugs

Cheltenham – The bee all and end all?

Cheltenham – The Bookies Eye

The National Hunt Festival is the one event in Racing’s calendar which means the same to the Bookie as it does to the Punter. It’s about the gambling, pure and simple. Of course there are a few folk running around in tweed, they can’t wear anywhere but Cheltenham. You know the type, they drift out to watch Sprintre Sacre defeat a field that doesn’t include Simonsig and think it’s splendid. To the real afficianado, fed a diet of odds on chances for months, they couldn’t care less. If it’s not a race they can bet in, it’s a procession.

I first started working for my Dad at Cheltenham, when I was 16. Taking bets over the rail, as you do when you think you know it all. Too late to take his license off him for that little offence! In those days the main betting ring was rammed with bettors, tic-tac men and Bookies. He refused to price up until a half hour before the first, despite the fact many of his peers had been at it for two hours. He wanted them to tear it up first, before entering the fray to more serious wagers. For an fledgling Bookie, it was a serious buzz. The bets came thick and fast, averaged £50 or more. The Old Man was adjacent to the likes of Colin Webster, Stephen Little, and in his later years the Gentleman likes of David and Willy Power. Wagers to lose ten thousand or more were routine. Unremarkable.

It might surprise you to learn, that whilst he had an opinion, John Banks made little study of form. He built a legend out of being braver than most of those in the ring about him. If something represented ‘value’ to lay, he wasn’t afraid to lay it lumpy. Sometimes stepping back into the market to lay it again, if he felt its contracting price improved his overall lay odds and gut feel. He was more of a gambler than his opponents, challenging them to match his opinion of odds over their convictions and wallets! Hedge bets were never recorded, although he might wager for himself, he never reduced his risk by backing a horse back. And I do mean never.

Of course, even with his great skill in ‘reading’ the market, he probably wouldn’t have survived the nonsense of modern exchange driven fare. Exchanges are the ultimate number cruncher. There are no false favourites, and everyone is betting to a hundred percent book, and creating tiny margins from backing horses back. A cycle in futility. The ultimate fiddle. He’d have got bored of the flashing boards with the same odds and the weakness of the modern ring a long time ago.

Rails Bookies, in those days, didn’t have LED boards. Prices were off his card. Cardboard tickets sufficed for the punters. Clerks were highly skilled, and disputes were very rare. It was an exciting place to be. So, there I stood, green as the grass, looking into ‘members’ whilst my Father looked into the main ring, where the vast majority of hefty trade action was to be found. I knew precious little, other than what he had schooled me on. Coupled odds, and such. A novice, having a ball, wearing his trilby and stealing his bins. Son of the Father 🙂

So this day, a slightly built Irish fellah appears through the throng at the rail and asks me what price the favourite was. Peering at my card, ‘9/2’ I says.

‘Twenty’ he says.

‘Ninety pounds to twenty’ I call to the clerk, readying the ticket. The man smiles, no antipathy, a pleasant and patient type. ‘No Son, twenty Grand’

‘Oh’ Panicked, I turn to the Old Man, surrounded by a throng of tic-tacs and workmen. ‘Dad, this guy wants 20 grand on !?’

He turns round, smiles, not at me – ‘Hi JP. Yeah you got that.’ JP, doffs and walks on to Webby. The Old Man casts me a baleful look.

An education or what? It got beat – I avoided a bollocking.

You’d expect as a Son, for me to say my Father was a good man, and he was. To many of his customers he was the kind of Bookie they respected. Everyone called him John. They got their bets every time. He never cussed when he lost. These are the facts, and I make no bones in telling you these truths about the man. To me though, in business, he could be brutal in advice. The game was tough. If I was to take over one day, something he was fervently against, I had to learn the hard way. So getting it in the neck was a fairly common occurrence, and he didn’t mind who heard him! It worked though, because I’m still around, and it’s no longer exactly a license to print money.

Cheltenham was more than just a series of races, a betting cauldron. The whole event was a gambling emporium. Nightly poker games supplanted racing. I remember when I was older, had started betting for myself. I found myself less of a genius than when I was sixteen.. We stayed in a hotel in Tewkesbury, and a game of 7 card stud poker was the standard order of business on the Monday before the festival. I remember the characters in the game, fearsome gamblers. Jimmy Caldwell from Scotland, a long time pal of my Father’s. Dudley Roberts, Johnny Lights. A hefty punter who went by the pseudonym of ‘Chinese Dave’. who didn’t last long in the Webster-Little-Power-Banks era.

I declared myself ‘in’. Stuck my £50 ante in and waited on the first hand. 7 of clubs, 3 of diamonds, jack of hearts. What to do? Could hope for three more jacks?

Stack.

Cut a long story short, the first ‘pot’ was six and a half grand. My eyes were like saucers. The Old Man was trying to chase a few away with a pair of 6’s. Sometimes you can bully the pot, but not this mob. Desperadoes. He turns to me and asks if I really want to be in the game. ‘ehm, no’ My bravado only extended so far, and everything I had was for gambling the horses. ‘I’ll have a dollar in the pound with you Dad.’ (25%). I took myself to bed. I was all chat in those days.

Gets up in the morning and as I close the bedroom door, Jimmy Caldwell emerges from an adjacent room, eyes on the shag pile. ‘What happened last night Jimmy, how did Dad do?’

‘I dinnae Ken’ Jimmy says. Odd, he was in the game? He’s got a mark on his shoe methinks.

I head down to the breakfast room. All the suspects are at breakfast, but nobody looks at me. I’m the best looking by miles- what’s the game? I sit down and wait for the Ayatollah to come down.

He walks in, sees me sitting there and grins. Genuine mirth.

‘Obviously you lost, cos nobody will speak to me – what was the damage?’

‘Ten’ he says, still smiling.

‘What? You can’t have lost ten grand??’

‘No, that’s what YOU lost.’ The rest of the table bursts out laughing. An education. Nobody seemed to care I’d managed to do my tank in whilst asleep in my bed

As a postscript to this tale of pre-Cheltenham tradition, I will, in my defense, say that I learnt my lesson and only took a dime in the pound the following night. (10%)

That cost me 3 grand.

Business at the Festival has dropped off significantly from the days of John Banks. But the impact of the meeting never really diminishes. In years past, when I was sent from the Rails to the nearest Tatts firm, it was a labour of Hercules, the Ring was a crush of punters. Unlike most major racing festivals, it remains the one almost pure betting event, despite racetracks unfortunately appealing more to boozers than bettors. The atmosphere is created by the nature of the course, the size and pace of the fields and because people are there predominately to beat the Bookie. Punters still haven’t worked out things that bolt up at Kempton flop at Cheltenham. I bet in the new Centaur arena. They sell a lot of Guiness in there. People come to bet, fart and leave. I never turn down a bet, I could do without the smell though. The wagers are a lot smaller these days. Of course I’m there for the crack, as are my punters, I’m going to give them some stick if I can and stand every favourite for its nuts. Most punters I find deeply honourable. They press crumpled cash from their pockets, stinking of chip fat, into your hand in a sea of bettors. Some must be tempted to leave you a tenner short, but they don’t. There’s the odd villain in the pack, but I take a rather sympathetic view of such souls. Need to get one over on me for £10? You enjoy yourself. The majority of customers are good natured, they don’t expect to win, but they will enjoy their day out. And I will put the fun into betting along with my betting girlies!

These days the Festival is a vehicle for high street and internet ‘casino’ operators to poach clients from each other. Outdoing themselves, and their own bottom line, with unsustainable money back offers. Unsustainable that is, if we are only talking about their Racing profits. But of course we’re not. Other products erode Racing’s share of the products to such an extent they’re fully prepared to throw to the wolves what used to be a premium betting week. For firms like my own, leading very much on service and a fair bet at all times, it pressurises the organisation. You can’t ignore their prices and keep your clients happy too. The good news – many customers still prefer service over ‘free bet’ offers. Most of which are a cheap sham. Take for instance one firm who last year offered their first 10000 customers even money Sprinter Sacre for £10. Punters are bamboozled by such deals, forgetting they’re walking round the corner to save themselves 6 quid (if it wins!) – subjected to a lifetime of invasive e- mails and texts. Other firms run FOBT promotions through the week, encouraging their staff to flow customers to their addictive product. Who can blame them with profits of £960 a machine- and 4 to a shop? Fortunately for me, most of my customers want more than a fiver on, and we discount their payments when they lose. That’s cold hard cash. It’s not a here today – gone tomorrow offer. More’s the point, we don’t make our clients feel like they’re literally ‘begging a bet’. Know what I’m talking about?

I’ve watched, disappointed, as this National Hunt season wilted in a sea of poor fields and avoidance tactics amongst major players. This despite racing taking place pretty much throughout the winter on ground more often than not, good to soft. Three trainers carve up the sport. Ireland’s top man, for example, doing his best to present his leading charge, Hurricane Fly, with an open goal in the Champion Hurdle, likely placing his better horses in other events and feeding us, and presumably his owners, a diet of lame excuses. The likes of Un De Sceaux (who couldn’t take on any other target) the brilliant Annie Power, or Quevega, a mare never allowed to dine at the top table – taking the selling plate every year. Nicky Henderson adopts similar policies, to the detriment of owners, who seem unwilling to challenge his authority. To be fair, Paul Nicholls often opposes his charges, and I feel understands his responsibility to Racing. The Festival last year suffered from small fields in Championship events, 7 in the Arkle, 9 in the Champion, 7 in the Queen Mum, 8 in the Ryanair and only 9 in the Blue Riband event. You know, it really doesn’t matter if Bobs Worth does, or does not end up winning the Gold Cup, – if we don’t see him for months. Somebody will win, and it will always make headlines for the right reasons. Arkle ran 9 times in 1963. He survived.

If you don’t see this situation as unhealthy for the sport, you must gorge on apathy. This situation is wrong. Further, I can’t see it a positive for Racing if we are treated to a daily diet of sycophantic reports or interviews with these trainers. Where are the dogs beating down the doors of the BHA demanding results, rather than sound-bytes? An organisation with a race planning department that year-on-year subjects us to the same races, at the same meetings every year. Blinding stuff. The gravy tastes too good for some Hacks. In fairness – and probably in no small part to folk like me having a go, I’ve seen some great articles from Muscat, Mottershead, and the entire Guardian crew of late. Boyce, Chapman, Yates, Hislop, Cunningham all deserve a positive mention, and whilst Luck strikes some as ‘stiff’ – he remains one of the best anchorman in sport.

Less so for Simon Mapletoft, reporting for ATR, with a thoroughly inept interview with the trainer, John Butler, unloading Stand Guard, who that morning had pronounced Racing ‘crooked’. Did he ask for clarification of his remarks, as any self respecting journalist would? Did he hell. Two minutes later the ‘match at Southwell’ degenerated into another head banging farce.

Channel 4 pull few punches, despite the carping about its format. I enjoyed an excellent interview with David Walsh discussing the Fenton case and describing Racing as condoning integrity breaches routinely. Credit to the programme for letting the segment run over. What’s wrong with facing the truth? Questioning the authorities?

Less so from the embarrassing Millington, the champion of FOBT’s. ‘what’s the point in re-examining the Zarooni affair?’. A Racing Post editor who sees the biggest doping case in the history of the sport as something to be tidied away. Yikes.

Back to 1990, I recall Victor Chandler’s men coming down to back a horse with my Father, New Halen, 66/1, in the Midmay Of Flete, last race on day two of three in those days. The bet? £50,000/£750 each way. Total liability £62,500. Chandler was a hefty punter in those days – fighting a long running, if mutually respectful battle with my Father. I remember his expressionless face as it won. Losing the best part of sixty grand in 4 minutes. He talked normally and almost casually in the car on the way back to the hotel. We were now behind at the meeting

By the fourth race on the Friday, and from a hefty losing position at the meeting, he’d won the fifty grand back, and more. Bolstered particularly by standing what was, in his view, a non stayer – Desert Orchid, in the Gold Cup, for nearly 40 grand, when he was losing 50. The man had balls the size of grapefruits.

My worst moment at the Festival? Whilst by no means the most expensive –fairly light at a £40,000 swing, it was the ‘victory’ of Salsify in the Foxhunters. Beat like a rabbit over the last, and with my rep in my ear telling me we were safe from his challenge, we watched in horror as Jane Mangan’s mount jinked at a tape rail and deposited the exhausted pilot on the deck. I hanged the rep for opening his mouth too early. It seemed the right thing to do. He’ll get over it.

To a Bookie, – that’s the National Hunt Festival. Buy a ticket. Have a bet.

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