Gambling Blog

It may have been around for over 100 years, it may have seen of the full array of economic climates, but is seems as though the emergence of neighbouring Macau as a gambling capital of the Far East may be about to kill off Hong Kong Racing once and for all.  So what is going on?

While the popularity of horse racing around the world has grown over recent years, it has always been a very strong brand in the Far East.  Gambling is second nature to many in the region and the buzz of a day at races has proved to be a magnet for millions.  However, the massive expansion drive in the enclave of Macau has seen many of the high rollers previously associated with racing, move to the new super casinos.  It is the high rollers which make any gambling industry profitable, and it seems that it is this section of the community who have jumped ship and opted for the casinos of Macau.

Official figures for the Hong Kong Jockey Club show a fall in annual income of some $2.4 million a year, over twenty percent of the groups total income, which many believe has gone directly into the coffers of casino barons in Macau.  So what next for the old establishment? Can the Jockey Club fight back?

While the Jockey Club have been trying to make headway into new markets such as the internet, worldwide TV, etc, their plans have been hampered by the growing casino culture in the area.  Talk of the Club folding over the coming years is still very much speculation and highky unlikely, but it seems that there will need to be some major changes in due course. 

As they say in life, “You never know what you had until it’s gone!”, and it would be a sad day to see horse racing under more pressure in the region.

While it may have had the most successful year on record, the Colonial Downs horse racing track has been put up for sale by its owners Jacobs Entertainment.  Why has Jacobs decided to call it a day after a record year?

The problems revolve around the introduction of other gambling tools in and around the racetrack, something which many states in the US have been looking at for some time.  The New Ken County based racetrack has been unable to come to an agreement with local authorities on the introduction of Poker and over casino like facilities in their complex.  This not only affects the main Colonial Downs course but also their other nine affiliated tracks which have also been enjoying the good times.  So what next?

There is speculation that the move to put the business up for sale is no more than the first shot in what could turn out to be a long term battle of wills to see who will crack first.  The authorities would prefer to have an owner who was committed to the business and able to push it forward in a professional manner, thereby guaranteeing the already substantial employment of locals by Jacobs Entertainment.  However the fact that Jacobs Entertainment is in all honesty a casino dominated business should not be ignored and they may have an ulterior motive with their actions.  Many are suggesting that they are trying to pressure the authorities into effectively giving them a casino licence by proxy.

The US casino industry has gained in strength over the last twelve months in the light of the online gambling ban, something which has taken away a large amount of unwanted competition.  Quite how this particular situation will pan out remains to be seen but the influence of the gaming industry has never been stronger in the US.

Each day in the US there are at least 4 (possibly up to 8 or more) different race meetings, the majority of which are screened live on satellite TV, but many are now asking whether the US market is becoming saturated and a little difficult to forecast.  Is the market being over cooked? Will this affect turnover in the US?

There is no doubt that the number of US race track meetings is massive compared to anywhere in the world.  However, you need to appreciate that the US is a massive place compared to most other countries in the world, which may explain the mass of racing available on TV.  This does not necessarily mean that the market cannot become over saturated and perhaps start to turn off gamblers, so what keeps them coming back?

Unfortunately for the professional (or amateur) gambler, the US market is very very difficult to forecast with many odds on favourites coming under pressure on what can be very demanding and tight dirt or grass tracks.  Many people tend to go with the jockeys rather than the horses, with the main players in the US often getting the choice of a number of horses in each race they are involved.  In order to appreciate this you need to consider the use of certain factors such as blinkers, and other aids, which can drastically improve a horse’s chances.

The US is one market where you need to monitor the odds just before the off to see where the professional money is going.  Sometimes it may be too late to take advantage if you are not quick enough, but it is the often massive variation in the performance of the horses which keeps the gamblers coming back, and should do for some time to come.  There is probably more racing that a gambler would be comfortable with, but the market is bigger and if you do your homework and watch the market you can actually pull out some interesting odds.

While the collapse of the recent “fixing” court case involving champion jockey Keiren Fallon was much welcomed by the sport and punters alike, there are still many unanswered questions.  There are also many in the industry who are concerned that the sport of horse racing may well be tainted forever, even though there have been very few convictions for “fixing”.

Horse racing is an industry which has many elements and many faces, which all come together to present what is perhaps one of the most fascinating sports in the world. One of the few sports where man, woman and horse come together to beat the odds, there are so many things which can go right, but even more that can go wrong!

We have all seen odds on favourites beaten by a mile, but let us face the facts, these are some of the purest bred animals in the world and unless they are on top form they will struggle.  These are not machines, these are not robots, these are prime athletes of the racing world.  The Fallon case seemed to centre on one particular race where he was about 20 lengths ahead and was ultimately beaten on the line into second place.  The prosecution tried to suggest that he had fixed the race and needed to lose to help his “racing ring”, but try as hard as they could they were unable to prove this.

While the case ultimately collapsed on the evidence of an Australian expert who was not aware of UK racing rules, there are many who suggested that the case should never have gone to court.  Has this one case done damage to the sport of kings? No, but the cumulative effect of whispers, court cases and rumours is having an impact upon the reputation of the industry. 

While the industry is looking to “clean” itself up for the future, there are still many who are highly suspicious of the horse racing world.

While many had been eagerly awaiting the Breeders Cup Classic horse race at Monmouth Park, USA on Saturday, what had promised to be a real classic turned to disaster shortly after Curlin passed the winning post.� Further behind on the track UK favourite George Washington had broken down, after breaking two small bones in his ankle.� Unfortunately the horse could not be saved, and was humanely put out of its misery by the on-course vet.� A tragic end to one of horse racings true superstars…..

George Washington was foaled at the famous Coolmore Stud,� with a blood line which included champion Danehill and Bordighera.� While the horse was a great favourite of UK horse racing fans, it was actually owned by US pair Roy and Gretchen Jackon, earning them over �700,000 in prize money alone.�

�Gorgeous� George as he was fondly known by the racing fraternity started his career on 1st May 2005 at Newmarket, and while he finished third, it was soon to become clear that he was destined for greater heights.� As a two year old, victories soon followed, and while he was held back for the big races he always seemed to perform on the day.� While some started to doubt his credentials after a narrow win in the National Stakes in September of 2005, �George� soon bounced back to take the 2,000 Guineas in 2006.

September 2006 saw George Washington head for his top target, the Queen Elizabeth II Stakes at Ascot, and with heavy rain on the day many thought his best chance had gone.� He drifted in the betting in the morning, but just prior to the race a great wave of money was placed on the fans favourite.� After an eventful race which saw a number of horses tangle with each other, �Gorgeous� George strode effortlessly by them to take the winning post by some margin.� His position at the top table was now secured!

While many blame the muddy track on the day of the Breeders Cup for his fatal injury, it is clear that racing has lost one of the great characters, a horse with a never say die attitude, one which seemed to revel in proving people wrong when written off, a true champion.

While many gamblers in the UK may not know it, but while the UK and US are by far the largest horse racing markets in the world, the industry has spread to all corners of the globe.� As you would expect, this increase in horse racing has also seen a massive increase in gambling levels and it is now possible to bet on horse racing 24 hours a day, 7 days a week!

For the UK gambler the schedule goes something like this :-

• 1pm start for the afternoon racing, finishing around about 5pm� - 5:30pm.
• 5pm - 5:30pm sees the start of a range of evening races which tend to finish about 8:30pm - 9pm.
• 6pm sees the start of US horse racing ,which tends to go until about 1am.
• 1am sees the start of Australian racing, which can go on until about 5am.
• 5am sees racing from Hong Kong kick in, until about 8am - 9am.
• then we have racing from South Africa which covers the break between Honk Kong and the start of the UK racing day.

We have seen an array of satellite sports channels come to the fore, with many concentrating on the horse racing market.� When you also consider the vast array of betting exchanges and other gambling sites available, the traditional �punter� will have liquid markets at any time of the day or night.

There have been some major changes in the horse racing industry over the last 20 or 30 years, and these changes have all been aimed at the gambling market, without which horse racing would be dead.� We have seen massive investment, particularly in the UK, with many of the older more traditional courses receiving major revamps, and the introduction of a whole host of hospitality facilities.

It is now possible to have a�full day at the races with a bite to eat, entertainment and horse racing - what more can you ask for?

British tennis ace Andy Murray is the latest tennis star to claim that they know of matches being fixed at some ATP tournaments, and although he says it is difficult to prove, he claims that �all� players are aware of the trend.� While one claim in the midst proves nothing, Tim Henman recently made a similar claim prior to his recent retirement.� So what really is happening?

While there have been rumours about potential match fixing for some time, it was the Nikolay Davydenko�s match earlier this year which really blew the lid off the situation.� That game is still being investigated by the tennis authorities and while no charges have been laid as yet, it seems only a matter of time.� The authorities have expressed a great interest in betting patterns on the likes of Betfair which seem to be the betting vehicle of choice for those looking to �fix� matches.� But why use the betting exchanges?

The betting exchanges offer gamblers a unique opportunity to bet on losers as well as winners in each and every tournament they cover.� This appears to have been the catalyst for the recent rise in rumoured match fixing allegations, although the betting exchanges recent agreement to monitor and report suspicious betting patterns has further turned up the heat on the so called �fixers�.

So what next?

As well as these rumours of match fixing in tennis, there is a high profile Horse Race fixing court case currently ongoing at the Old Bailey (the UK�s top court).� While it has taken over two years to bring these Horse Race fixing claims to court, it is a move in the right direction amid claims that the authorities finally have a strong case.

There are hopes that at least one successful high profile prosecution may well quell the spate of matching fixing in all sports, but the money involved is massive and will always be a temptation for some.

In a move which will probably secure the long term future of the paper, the horse racing gamblers bible, the Racing Post, has finally been sold off as part of the company�s sport division.� There is no doubt that the Racing Post was the jewel in the crown of the �170 million deal which sees ownership transfer to FL Partners, an Irish led consortium who have an ex-Racing Post editor on board.

Under a complicated transaction, the rights to the name of the Racing Post were held by Sheikh Mohammed bin Rashid al-Maktoum who originally set-up the newspaper back in 1986.� Trinity Mirror were requested to make a donation of some �10 million to a number of racing charities as part of the deal.� While perhaps best know for the red top paper edition which adorns the surfaces of so many booking offices, the Racing Post brand name has also spawned a number of successful website under the Racing Post banner.

The online and offline editions are very well known in gambling circles, offering a wide range of information, analysis and tips for each and every race of the day.� The team behind the Racing Post have some of the best contacts in the business, and have uncovered some of the good the bad and the ugly of the sport over the years.� It is hoped that the original team will also move to the new owners, who have promised significant investment under their stewardship.

When you consider the history between the Irish and horse racing, it seems as though the Racing Post could not be in better hands. We will no doubt be seeing a number of high profile Racing Post sponsored events over the coming weeks, months and years ahead as they tackle the re-growth of this famous sporting brand.

There are few sporting events in the world which can arouse so much passion, so much curiosity and so much excitement.� The Aintree Grand National Steeplechase is one of those rare events which attracts the attention of not only millions of the UK population, but also millions from around the globe.� The �National� as it is fondly known is the oldest horse racing event in the world, dating back to 1836, but why does it still hit the spot with gamblers and non-gamblers of today?

For any horse race owner, any jockey or any trainer, the Grand National is the top league of the sport, the top of the tree, the holy grail of horse racing.� Horse and jockey set against 22 of the hardest jumps in the world, including the �Chair� and �Bechers Brook�, both of which have spoiled the races of hundreds of jockeys as well as millions of punters.� The race itself is steeped in history with so many horses having nearly made it to the line first, only to be pipped at the final corner, the �elbow�.� This is one race which is never won until you are clear across the line!

Not only is the event watched by millions across the globe, it also attracts massive betting, with in excess of �200 million staked on the most recent running.� For many bookmakers this is a way to make up for earlier losses, with so many favourites coming a cropper in what is one of the largest fields in the sport.� Falls, trips, stumbles, refusals and general bad luck, this race has it all, which makes actually winning the event the pinacle of any jockey�s career - a day that will never be beaten.

While the race has changed over the years, with some jumps trimmed and reduced, the general character of the race remains unchanged, as does the appetite of the UK public who flock to place their bets on �Grand National Day�.

While the horse racing market is one of the biggest gambling markets in the world, how many people who gamble on the horses have actually been to a horse race meeting? Surprisingly, many people who have a major interest in horse racing have never actually been to a meeting, never felt the buzz of seeing your horse flash past the post, never experienced the thrills and spills of a full racing card.

In the past horse racing courses have often been very basic, with only the simplest of amenities with many areas of the stands wide open to the elements.� However, there have been some dramatic changes over the last few years, with millions of pounds ploughed in to improve facilities, adding hotels and casinos and improving the standing and seating areas for the fans.� It is only of late that many have realised the value of the assets which they are sitting on, the value of the land and the very low return on investment in comparison.

We are starting to see a new type of track, ones which offer some of the best amenities around, the best service and better access routes.� Horse racing has actually entered the family day out arena, offering a unique atmosphere of enjoyment and anticipation, highs and disappointment.� For those who have not yet been to a meeting, they are really missing out on a� great day (or evening) out.

Many of the online gambling sites have arrangements with some of the largest race tracks around the country, routinely offering free of reduced tickets to their members.� This has helped to increase attendance figures, which have been slowly rising for some time, as well as the increased turnover on horse race betting.�

If anything, the recent actions by the authorities against parties looking to take advantage of the sport have given the traditional race goer a little more confidence in the sport - a sport fit for Kings!

While the betting exchanges continue to have a major impact upon the world of online gambling, they have also opened up a new industry - In Play betting.� This is an industry which has grown massively over the last couple of years, with more and more events now available �In Play�.� Traditionally it had been the likes of football which were most popular amongst In Play gamblers, but there is also a major customer base in the horse racing, cricket and tennis betting markets.

Is It Safe?

While In Play betting can move very quickly, especially in the likes of horse racing when a horse may unseat its rider or fall at a fence, for those with the time to study the markets, and in possession of a broadband connection (ever more vital for In Play betting), it can be very lucrative.� However, it can also be a big big gamble, with many taking very small odds to increase their �pot� on �dead certs�.� There is no such thing as a dead cert in any sport!

The major market for such In Play events is the arm chair viewer, who like to have a gamble as they are watching the event unfold.� This does have dangers, especially in the horse racing industry!

It is a little known fact that there is actually a time delay of a few seconds between the horse race being filmed, and replayed on the TV, so those advertised as �live� are very often not.� While this� may seem like a very small delay, it can be vital for those on the track looking to hedge bets on a tiring horse, or lay bets on a horse which has just fallen, with their odds yet to be updated for a few seconds.

As with any betting event, the customer needs to go in with their eyes open and be fully aware of the possible risks and downfalls.� Nothing is ever certain in the betting industry, and even less now, as much of it has moved online!

Despite having one of the busiest horse racing calendars in the world, it seems that the UK horse racing viewer cannot get enough races to gamble on.� Over the last few years we have seen massive investment into many of the UKs top horse racing tracks, with companies such as Arena Leisure behind much of the developments.� Not only have the much improved track services gone down well with regular �punters�, it has brought a whole new crowd into the horse racing scene.

The explosion in online gambling has also opened up many new markets for the UK gambler, and it is now possible to watch and gamble on horse racing 24 hours a day, 7 days a week! When the UK racing finishes, at say 5 o�clock with an afternoon meeting or 9 o�clock with an evening event, it is time to move to the US where racing continues up until 1 am (GMT).� After the US racing is complete, we then see the likes of Australia and Hong Kong kick in until the early hours of the morning, at which point South African racing comes to the fore.� Then UK racing, and…….

This massive increase in interest has forced many of the major bookmakers to cover overseas horse racing in more detail than ever before.� Rather than token gestures, we are starting to see some real quality coverage in the UK, allowing the UK gambler to not only place their bets, but also research their tips as well.�

Each and every horse racing industry in different countries has its own unique style and characteristics, with many of them so different. We have the grass tracks of the UK and the dirt tracks of the US, with distances, shape of the course and styles of riding so very unique.� It seems that the major differences are offering a challenge to the UK horse racing enthusiast, a challenge which more and more and willing to take up.