New "horse racing betting right"

[UgotNuts]

Good news for the Industry?

http://www.sbcnews.co.uk/retail/2015/03/18/chancellor-gives-green-light-to-horserace-betting-right/

[TightEnd]

that article is registration only

what was announced today relevant to the gaming/poker industry?

[UgotNuts]

Yeah I have changed the link, It was a full article on the subject.

[MattyHollis]

Something that greyhound racing could so desperately do with! More than Horse racing!

[doubleup]

Another nail in the coffin

[TightEnd]

Another nail in the coffin

could you explain why that is please?

[doubleup]

If it costs bookmakers/exchanges fixed sums to take bets on races, some will just stop doing so, reducing revenue and presumably increasing the burden on the remaining participants.  The money will come from the pockets of punters as margins  widen /commission increases.  So money won't recycle so much = less entertainment value.

[bookiebasher]

This could run and run for a good few years with many a legal loophole to go through especially if
we are still in the EU.

Obviously the devil is in the detail and not seen any specifics on how this would be implemented but
if they are thinking of squeezing any more pips out of the bookmakers it will result in a negative effect
to racing because horse racing is well down the list of what the younger generation want to bet on.

If horseracing want's a racing right then it's up for grabs with every other sport bookmakers bet on.

And probably not just sports.....

A "Celebrity get me out of here" right , a "Big Brother "right.

Tikay , remember you bought my bookies last Friday after the Gold Cup , when you picking the keys up ?

I don't mind dealing with Argueboy and Larry the Lamb.

[arbboy]

Racing are a bit like lolbrokes.  They should have sorted these issues out years ago when they had a much better bargaining position.  10 years on they have lost all the relative power with their product/brand and can't haggle anywhere near such a good deal.  Both are stuck in the dark ages with the relative power of their products/brands and are now paying the price.

I always get the impression racing really thinks bookmakers still can't live without their product.  I am pretty sure any online firm without betting shops such as skybet and bet365 really wouldn't be that bothered if they couldn't offer horse racing at all.  It is obviously a decent chunk of their turnover but the vast majority of customers they actually want as customers would just bet on other products which don't want to charge them a premium to bet on them.  You only have to read about the slumping channel 4 viewing figures for racing, even at a Vintage Cheltenham this year, they were struggling because the product is in big decline with the general betting public.

Bwin seem to be doing quite fine and they don't offer any real horse racing at all on their site (only their own virtual product) and the rest of the market are all targeting a bwin style mass volume product moving forward.