Horse Racing Tips & Discussion

[Brodlach]

Consumption tax is 15% of turnover, each state has this same tax on the gambling industry.

I think the government got $15 million in tax last financial year and returned $5.2 back into the industry which has now been stopped. Prize money compared to other states has been stagnant for years, if not decades, so it is a backwards step for the Industry. Governments in other states are pouring in cash for big races such as the Everest and the new one in Victoria.

Not to forget how many people are employed in the industry, imagine if the industry stopped how many people would be unemployed.

[OnSong]

Consumption tax is 15% of turnover, each state has this same tax on the gambling industry.

I think the government got $15 million in tax last financial year and returned $5.2 back into the industry which has now been stopped. Prize money compared to other states has been stagnant for years, if not decades, so it is a backwards step for the Industry. Governments in other states are pouring in cash for big races such as the Everest and the new one in Victoria.

Not to forget how many people are employed in the industry, imagine if the industry stopped how many people would be unemployed.

Yes, then there's the community groups who use the local racing club as a fundraising arm and the impact goes far beyond jobs but even facility provision and economic activity in regional areas.

[Trader]

15% of turnover is crazy. Bookies who frame their markets at 110% are already losing. I'm not sure that is correct.

Before the cut in government funding to prize money, why was SA's prize pools stagnant while other states growing?
Is that a sign that the industry here in SA is not supported by the general public as much as it is interstate?
If so, wouldn't it be a reasonable step for the government to cut back their support of an industry the general population doesn't support as much as it used to?

I get that the industry creates a lot of jobs, but if it isn't run efficiently / productively / producing a product the general public wants to consume, then I'm not sure the government should be propping it up???

I'm by no means convinced that pulling support is the correct answer, but based on the above it doesn't seem like a terrible decision.

Keen to hear more facts and figures and opinions from others.

[mighty_tiger_79]

15% consumption tax, we have the highest rate of that TAX in Australia, other states have it at as low as 8%

[Mr Beefy]

15% of turnover is crazy. Bookies who frame their markets at 110% are already losing. I'm not sure that is correct.

Before the cut in government funding to prize money, why was SA's prize pools stagnant while other states growing?
Is that a sign that the industry here in SA is not supported by the general public as much as it is interstate?
If so, wouldn't it be a reasonable step for the government to cut back their support of an industry the general population doesn't support as much as it used to?

I get that the industry creates a lot of jobs, but if it isn't run efficiently / productively / producing a product the general public wants to consume, then I'm not sure the government should be propping it up???

I'm by no means convinced that pulling support is the correct answer, but based on the above it doesn't seem like a terrible decision.

Keen to hear more facts and figures and opinions from others.

This article explains one part of the tax bookies pay:
https://www.abc.net.au/news/2014-11-30/squeeze-more-money-out-of-$8.5bn-nt-bookmaker-industry-xenophon/5929192

PoC tax is an additional tax based on where the punter lives. If you live in SA and have a punt, the bookie has to pay 15% or revenue to SA Govt.

[Trader]

Ok, googled it, its 15% of the revenue after payouts.

So if we assume the 15m broadlach mentioned above is correct, that suggests the bookies are pulling in $100m after payouts on SA Racing.
That means they are making $85m, less a bit of advertising and system costs.

What sort of fees do they pay to the racing industry for putting on the event that people then bet on?

The industry should be hitting the bookies up for a bit of sponsorship.

Losing $3m from the government hurts, but it seems the bookies have a fair wack of cash to support the event.

[stampy]

there was discussion on the abc this morning, they spoke to kennewell, will clarken, minister wingard and shadow racing minister katrine hildyard.

1. kennewell stated that he left as the prizemoney shitehouse and that the dropping of the $3m frm our carnival was the final straw, he also had a crack at TRSA saying they just rolled over and accepted it without a murmur of protest.

2. corey wingard spoke the usual polly spin but through his rubbish he said that the $3m sponsorship for the carnival was scrapped as most of the prizemoney went east ( repeated the last bit about 4 times btw), he then claimed that he is waiting for a business model to be supplied from TRSA regarding prizemoney that can be put to the treasurer with action then to be taken to keep racing sustainable in this state

3. Katrine gave nothing, just paid out the govt as per normal opposition shittalk.

4.Will Clarken was last, like kennewell, he was disappointed with the govt stance given that the industry employs over 3500 in sa.

5. Spence Denny then said that he had asked premier Marshall about the cuts and his response was "why should the govt subsidise gambling", obviously forgetting that if it wasnt for gambling revenue, the state would be totally effed.......what a ridiculous thing to say

[Jimmy_041]

Point 2 is what I’ve heard and backs up my views (for what they’re worth)
Metropolitan racing in SA is dying so how about putting up a proper business plan to resurrect it for all year instead of chucking $3m at a couple of races.
That’s the problem with communism/socialism. Instead of addressing the problem, you hold the state to ransom.
I haven’t read the POC article yet but my understanding was that Sportsbet, Ladbrokes etc set up in NT because of the lower state tax regime.
So, instead of competing with NT, Kuntsantonis just creates a new tax and tried to keep it all. The online bookies retaliated by cutting sponsorship of SA racing and it was a race to the bottom from there. The bottom line is SA now has the joint highest tax and it was a nail in the already sick industry in SA.
Kuntsantonis said the industry would be no worse off but they had to chase him down to get anything out of him using that “assurance”.
SA Racing is just a microcosm of what the Bank Tax would have done to SA

[mighty_tiger_79]

At least Kennewell doesnt have to ship the supplements anymore

[stampy]

the state government needs to get behind the industry, not kill it off. Prizemoney in this state needs an injection of around $75m over, say 5 years, increasing saturday prizemoney to between $70,000-$50,000 per race with midweek being no lower than $20,000 per race.

This would hopefully keep the likes of stokes and kennewell plus others in sa, the standard of racing would hopefully be better with the possiblity of not losing the top prizemoney to the eastern state raiders

[JK]

The governments and SAJC - at differing times - Have continually brought racing in this state down for decades now, hell Im still filthy at Cheltenham being coughed up!

Had always remained a hope that at some stage a white knight would save and restore it, but have given up on that now. It’s just another thing SA lags behind other states in.

[Booney]

VR treble

1,2,4,5,8,9
7,8
1,2,3,6

50%

9/7/6 pays $15.60

Cost me $24 to win $7.80. Why do we do this?

Treble a few days back, 5 in the 1st, get 1st 4, 4 in the 2nd, winner/quin, third leg 4 of 9 and not one in the first 4.

Then get 50% of todays Tamworth treble for $12.

[Spargo]

VR treble

1,2,4,5,8,9
7,8
1,2,3,6

50%

9/7/6 pays $15.60

Cost me $24 to win $7.80. Why do we do this?

Treble a few days back, 5 in the 1st, get 1st 4, 4 in the 2nd, winner/quin, third leg 4 of 9 and not one in the first 4.

Then get 50% of todays Tamworth treble for $12.

#onfire
#newcareer

[carey]

Unfortunately the Pools are that low mid week trebles and Qauddys aren’t worth doing.

[mighty_tiger_79]

The governments and SAJC - at differing times - Have continually brought racing in this state down for decades now, hell Im still filthy at Cheltenham being coughed up!

Had always remained a hope that at some stage a white knight would save and restore it, but have given up on that now. It’s just another thing SA lags behind other states in.

Where is the Cheltenham funds???

Morphettville missed an opportunity when they built the Parks track.
Should've gone the Strathayr surface and put lights up.

[Brodlach]

Took this all up today





All for a place......all won

[mighty_tiger_79]

Why cover up the account balance???

[Brodlach]

Why not?

[Spargo]

All up the win @ $693
Ouch.

[Brodlach]

I reckon if I had put it on earlier it would be around $980