HRV Chairman's Report - Drop in Wagering poses a threat

[Messenger]

http://www.harnesslink.com/Australia...-Dale-Monteith

Dale Monteith's report includes the following:

Wagering and Prizemoney

"Actual revenue from wagering, largely from the Tabcorp Joint Venture, was down by $3 million from the budget inherited from the previous HRV administration. In total the three (3) codes' distributions were down by $23 million compared to JV budget expectations."

"Unless wagering revenue outcomes improve, pressure will be placed on HRV's ability, as a financially responsible Statutory Authority, to maintain prizemoney levels and the current racing schedule and programmes."

National Focus on Improving the Racing Product

"At Harness Racing Australia's (HRA) most recent AGM in Adelaide there was overwhelming acknowledgement of the need for change in the industry. The relevance of harness racing is seriously under threat and it has been overtaken by greyhound racing as the No.2 racing code in Australia, by a significant margin.

It has been identified that our core racing product is the primary lever available to reverse these trends. Principally more even racing with significantly less short-priced favourites will improve wagering outcomes and revenue back to the industry.

HRV's tiered racing strategy is one attempt to improve competition and reduce short-priced favourites. Already, since its introduction in September, the number of odds-on favourites has been trending down by 11%"

"Secondly a somewhat watershed decision was taken to introduce a new racing season for harness racing nationally. The date for establishing the commencement of a "calendar year racing season" has yet to be decided but HRV is pushing for this to be sooner than later.

Critically this move will mean a total review of the national calendar and should enable HRV to reset its feature meetings currently conducted in the winter months to later in the year, ideally at the back end of the Spring racing carnival when the weather is much more conducive to attending and wagering customers are more activated to participate"

Swabbing Audit

"The Racing Integrity Commissioner recently released his findings regarding an audit conducted upon the swabbing processes and systems of the three racing codes in 2015/16.

The Audit found HRV to have the highest compliance rate (99.64%) of the 3 codes with RVL and GRV recording compliance rates of 97.51% and 89.96% respectively. The audit analysed the documentation and records for the entire swabbing process, from the issuance of a testing kit until the final clearance of such sample by the laboratory.

Importantly from the Board's perspective, these findings certainly put to bed the rumours and innuendo which have previously circulated with respect to HRV's swabbing procedures and the testing thereof. The Board is also determined to significantly lift the number of swabs taken to the levels of the other two codes."


http://www.harnesslink.com/Australia...-Dale-Monteith

[Messenger]

I cannot believe that the number of Odds On favourites could be below 40%
as the percentage for last season was 44% an 11% decrease would have to take that number just below 40%
As you will see from this thread

http://www.harnessracingforum.com/sh...-2016-17/page3

Post 26 shows that after September and October we had 45.1% of favourites Odds On
I knew I should not have stopped (but it was getting boring) but I cannot believe that in the next month the number of Odds On favourites fell to 30% which is what it would have taken to get 45% down below 40% in one more month

[Messenger]

The biggest premise that has to be tested is do Odds On favourites actually hurt turnover
I always thought it would
BUT the few times I have studied the turnover for races with an Odds On fav I have found that the increase in First 4 and Trifecta pools (pro Punters?) always takes turnover to the equivalent of other races on the program without an Odds On fav

I may just have to start another Turnover db (maybe in Jan)

[gutwagon]

I think the drop in turnover is proof that the tiered system is not working and needs to be scraped before it does too much more damage. Only the owners of the top horses seem to like it . It is failing to help the small time owners and trainers.