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

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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

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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

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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’

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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

CHELTENHAM FESTIVAL – POST MORTEM FROM A LEADING LAYER

Horse Racing - 2012 Cheltenham Festival - Day Four - Cheltenham Racecourse

Bankers. We used to count the banker material in the car with my Dad on the way down to Cheltenham. It was our benchmark to success at the meeting. And that was the word- success, because losing at the Festival was a non runner for Bookies such as John Banks.

The environment has changed. I don’t use betting exchanges to price up my book, I value opinion over trading between Bots and the numpties. I’m very much in the minority. Modern day Bookmakers can’t see past exchanges, trading every penny they take, offering a very poor service to the customer, which starts with uniformity of odds. We have to thank Rob Hughes, casting vote chairman of the Levy Board for introducing exchanges to rings – now decimated. Bookies have become their own worst enemy.

Me? I expect to win by taking the aggressive line.  No, I didn’t offer ten pound bets on Sprinter Sacre at Evens, but then I’m not running a casino. I don’t study a yard of form pre-festival. It clouds my plans. If I sat up all night studying form, I’d surely end up with the same book of hotpots as the punters do. Dynaste, Quevega, Hurricane Fly, Bobs Worth and Simonsig. My job is to get them beat.

Tuesday rolls in, starting well for the Books, with the hard pulling My Tent Or Yours looking assured for victory, outbattled by Champagne Fever. Last year we started poorly and never looked back. This year was more muddled. Wins for Simonsig, Hurricane Fly and Quevega placed the straight bat layers behind the 8 ball. We lost- solidly. The bright spot? Handicaps. Result after result all week penned the punters back..

Wednesday, gloomy lot of Bookies clutched defeat from the jaws of victory in the first, with Back In Front rallying. Groans and queues around the Centaur for payouts. I employ 3 people to just pay out the cash, which by nature is more time consuming than accepting a bet – it wasn’t enough! The office rang – running up bets onto Irish wonderhorse- Pont Alexandre in the next. This from multiple bets onto Back In Focus and yesterdays ‘heroes’. How much do we have it for I ask? ‘Don’t ask’, says my senior trader, we’re behind the sofa in here. Talking horse-not wonderhorse. And it kicks off panic with the punters. They barely scrape a return in another race for two days. Who cares about Sprinter Sacre? Not the Bookies-they ignore him. Ooh aaah, well done, move on.

Round after round to the Bookies continued through Thursday. Had you asked me to write down my own set of results, I couldn’t have penned a better set of results. It was embarrassing, – well almost embarrassing. Thursday night we celebrated, care of the Richard Power firm in Cheltenham. Smiles all round and stories of derring do and how what looked on paper a punters festival, had turned so much to us. We were well in front.

Friday. Hmmm. I remember thinking I would coast round, secure that even if the results were similar to Tuesday, we couldn’t finish behind on the meeting now. That’s not to say I intended backing off and hogging the pot. Oh No! not my way at all. I’m too daft to do that..Punters on the ropes and down. I was going to put my heel gently on their necks. Hard to remember a thought proven more wrong, as result after calamitous result ensued. The worst of which for me was Salsify in the Foxhunters. Backed in from 9/2 long term to 2/1. It was a catastrophe. It’s fair to say I was totally stunned at the manner of his victory. Iiterally speechless at the turn of events- and the noise in the Centaur was unbelievable! It didn’t surprise me to watch McCoy boot home the last favourite home. I was numb. The punters deserved their day.

How much did the Festival cost the firms? Well, my firm lost double on Friday what it had reaped on Wednesday and Thursday. Those are traditionally quieter betting days. I’m not crying, I have a track record of winning long term. Overall, the Cheltenham bash cost the Bookies big time. More with the large offshore concerns, who outdid each other with one moronic offer after another. These days they seem to treat the whole event as an opportunity to pad their online products with lovely names and addresses. And the dimmies queue up to sign up as if it’s Christmas. Is that a fair comment? I believe so, because every tenner laid at evens on Sprintre Sacre usually gets ploughed into something else. I mean who deposits a tenner and goes through the rigmarole of withdrawing it the next day? It’s ploughed into some other product and Bobs your uncle.

Whilst everyone from the BHA downward is clapping themselves on the back at producing another showcase event – and it was, I offer a word of caution. I listened to the great Micky Fitzgerald on the excellent Morning Line, a show I’ve been lucky to participate in, eulogising about his former boss producing the horse in tip top condition to wrest the big prize of the Gold Cup. And I congratulate my friend Nicky for his skills. However, the last time I saw the great Bobs in action was November. He wasn’t the only one of course. A number of top jumping stars rested from December onwards. Fine, the weather was poor in January, but there were still opportunities to be had, rejected by stable stars with owners rich enough to take the gamble and lie low for months. In the meantime viewers on telly, and worse attendees on course endured uncompetitive events and ‘match races’ for months. There have been 23 grade one events this season. 16 won by the favourite, and 6 by the second favourites. It highlights the predictable nature of jump racing these days, and hardly pads the Levy.It’s not good enough in my view. I don’t care who wins the Gold Cup, it’s a great institution,  and whatever lifts the little cup, Dessie or Nortons Coin, is going to be big news. Micky Fitz was right to congratulate the great one, but he forgets the intervening months have become drab and boring. Might I remind those looking in- Desert Orchid ran 8 or 9 times a year. He was an athlete and so are today’s horses. It disproves the current lame excuse given for horses languishing in their boxes, that they’re not ‘capable’ of winning top races if they race in February. And if you’re Newbury or Kempton? You’re doing the industry no favours by permitting quiet gallops for top stars after racing. Ask Fontwell who provided 50 grand for a five runner race how they felt at the lack of ambition? Simonsig? Beatable. Dynaste beaten. Where was the inventiveness of connections then? Small fields for Championship races at the Festival? An alarming development for Racing. As for Quevega? Group class in a seller, just leaves me cold. There’s only one horse who cannot be bested these days. One. Let them race.