TopSport wishes to applaud Thoroughbred Racing South Australia's recently advised offer of radical changes to their product fee model for the 2019/20 season to all wagering operators.
The enactment of a particularly onerous rate of Point of Consumption tax by the South Australian government in 2017 greatly reduced the viability of South Australian racing wagering products, and has inevitably constricted turnover ever since. Rather than further battering the wagering industry by emulating the severity South Australian Government's ill-conceived taxation regime, Thoroughbred Racing SA has - in an effort to ensure the sustainability of their product for the next decade and beyond - chosen to be innovative and facilitate a more vibrant racing wagering industry.
Perhaps inspired by recent commentary on the increasingly unmanageable taxation burden confronting wagering operators, the intended changes are designed to incentivise bookmakers to grow wagering on South Australian racing products. This decision, coupled with the recent launch of the new Murray Bridge racing complex, illustrates the desire of executive management at Thoroughbred Racing SA to stimulate the racing industry in South Australia.
TopSport will be demonstrating its support for the stated changes to Thoroughbred Racing SA's product fee model by offering a premium range of products, together with an aggressive pricing structure, on South Australian gallops.
Under the previous product fee model, premium race meetings attracted a considerably higher levy. The abolition of this impost has provided wagering operators with a sizeable incentive to promote feature meetings on the South Australian racing calendar, and to generally stimulate turnover and restore enthusiasm for South Australian racing. This is a win-win situation for all parties.
TopSport is always looking to improve its product offerings and pricing models where at all possible. In light of the impending changes in South Australia, TopSport makes the following commitments for the remainder of 2019:
- $5,000 on all standard Saturday metropolitan race meetings within South Australia; and
- $10,000 on any South Australian race meeting which features a Group or Listed race on the card.
- $5,000 on Metropolitan races; and
- $2,000 on Provincial & Country races.
- $5,000 for wagers placed prior to the first call of the South Australian Official Price; and
- $10,000 for wagers placed after the first call of the South Australian Official Price.
- An overround of 3% per runner to a maximum of 125% from the opening of betting until 10 minutes prior to the jump; and
- An overround of 2% per runner to a maximum of 115% during the last 10 minutes of betting on the event.
TopSport is of the belief that the commitments outlined above will benefit and receive the support of all punters - from the professional / low-margin punter to the recreational punter. We think that this can provide vital stimulus to South Australian racing, something which has been missing in recent times owing to the over-taxation of wagering by the South Australian government.
We urge our members (and the entire punting fraternity) to acknowledge the courage that Thoroughbred Racing SA has displayed in deviating from the well-trodden, albeit destructive, path of consistently ratcheting up taxes. Not only does the institution of a fair and sustainable levy provide bookmakers with an incentive to grow and promote wagering on South Australian racing, it is also likely to see punters receive far better value, and more favourable wagering limits and conditions, on South Australian gallops.
Should you consider that the changes outlined above will affect your betting patterns on South Australian racing or have any other thoughts on the state of play of the Australian racing and wagering industry, we encourage you to comment on our Twitter feed or email us on [email protected]. We will be using feedback we receive to compile further submissions to racing control bodies in due course.
Again, a sincere congratulations to Nick Redin and the team at Thoroughbred Racing SA!
Happy Punting!