race stakes

[the galah]

I see it hasn't taken long before some clubs have gone back to reducing their stakes to the same as what they were before all the hype about increased stakes because of extra funding.

For example ,all the methven races this week are for only $10,000. Isn't methven one of the richest clubs asset wise?

then at winton they even have a non win race for only $8,000. Southland used to be a province that said non win races were a priority and should always have good stakes.Thats obviously no longer the case.

I guess some of these clubs must be struggling just to get by, as they don't appear to be paying out the full prizemoney that HRNZ supposedly are funding them.Can't figure out why methven so stingy though.

Was it all just smoke and mirrors?

Stake increases over hyped yet again. we've seen it all before ,which is why the above was predicted,unfortunately.

Edited October 24, 2023 by the galah

[the galah]

i've nothing against the methven club,but simply are pointing out they really aren't doing the owners of horses who support their club any favours with the poor stakes they often pay out..

why does a club that is so asset rich run such poor stakes.

3 x $10,000 non win races and 9 $8000 races.

Would it not be better for clubs  like oamaru and timaru to run more meetings and give those clubs extra days,as they pay out much higher stakes for mid week meetings, and take a day or 2 off the methven club who often pay the poor stakes.

Owners would be better off or is methven simply taking for granted the support anyway because the horses won't have to travel as far.

its bizzare.

And how come cambridge are running a meeting with only $8000 stakes on a thursday as well.At least cambridge have the awful financial state as an excure,what is methven'ss.

Edited 22 hours ago by the galah

[Brodie]

1 hour ago, the galah said:

i've nothing against the methven club,but simply are pointing out they really aren't doing the owners of horses who support their club any favours with the poor stakes they often pay out..

why does a club that is so asset rich run such poor stakes.

3 x $10,000 non win races and 9 $8000 races.

Would it not be better for clubs  like oamaru and timaru to run more meetings and give those clubs extra days,as they pay out much higher stakes for mid week meetings, and take a day or 2 off the methven club who often pay the poor stakes.

Owners would be better off or is methven simply taking for granted the support anyway because the horses won't have to travel as far.

its bizzare.

And how come cambridge are running a meeting with only $8000 stakes on a thursday as well.At least cambridge have the awful financial state as an excure,what is methven'ss.

Think we will find that in a couple of years $8k for s harness race will be s good stake!

the owners and trainers are needing go make hay while they are getting the Entain cash splash.

There would be very few races being run at the moment that are profitable from wagering and this is accentuated by the stifling of wagering by the Bookies!

[mikeynz]

12 minutes ago, Brodie said:

Think we will find that in a couple of years $8k for s harness race will be s good stake!

the owners and trainers are needing go make hay while they are getting the Entain cash splash.

There would be very few races being run at the moment that are profitable from wagering and this is accentuated by the stifling of wagering by the Bookies!

All the main races now are being won by a few very well run stables, and in a purely business sense these guys are onto it, especially up north, especially with the young races, who can blame them, dairy farming the same, many of the smaller operators are gone now but as it's customery there are highs and lows, often the bigger one is the harder to fall in a downturn,  always been like that, time will tell regarding harness, whatever it does it simply has to work within it's means, is the present situation sustainable, time will tell, no good worrying what will be will be.

[Withadream2]

1 hour ago, the galah said:

why does a club that is so asset rich run such poor stakes.

It’s not about being asset rich. The ATC is asset rich inspite of their massive debt. 

 

On 10/24/2023 at 5:01 PM, the galah said:

guess some of these clubs must be struggling just to get by, as they don't appear to be paying out the full prizemoney that HRNZ supposedly are funding them

Agree with you there, they should be paying stakes closer to the amount they are receiving in funding.  

[Withadream2]

1 hour ago, the galah said:

3 x $10,000 non win races and 9 $8000 races.

Are some clubs stashing away money incase funding is substantially cut in a few years?

[Brodie]

11 minutes ago, Withadream2 said:

It’s not about being asset rich. The ATC is asset rich inspite of their massive debt. 

 

Agree with you there, they should be paying stakes closer to the amount they are receiving in funding.  

They need to be squirrelling away money as they will need to reduce stakes significantly when the funding is slashed.

just read the article on Entain on the galloping blog site, and if goi read that and still believe that Entain are this White Knight, then you have a very low IQ!

McAnulty should never have sold out to Entain, as I have been saying since the start, as they have no interest whatsoever of helping out racing!

I believe that if they could sell now and cut their losses, they would do so!

HRNZ CEO Brad Steele hopefully has read this article and taken it all in, and then he should come out and apologise!

[Westview]

15 minutes ago, Withadream2 said:

Are some clubs stashing away money incase funding is substantially cut in a few years?

Stakes are paid by hrnz , a club can move stakes around from meeting to meeting to a certain extent but their total stake allocation for the year is governed by hrnz .Methven has in the past and probably still, although the figures our now a secret produced the best overall gbr in the country. That means they put back over $600,000 above funding back most years,  second to none from a bunch of volunteers ( LEGENDS).

[the galah]

3 hours ago, Withadream2 said:

It’s not about being asset rich. The ATC is asset rich inspite of their massive debt. 

 

 

comparing the atc and the methven club is not   a good example.

Methven had investments of close to  3.5 million in shares and over $400,000 just sitting in the bank.

their land and bulidings are also worth over $9m

Edited 16 hours ago by the galah

[the galah]

3 hours ago, Westview said:

Stakes are paid by hrnz , a club can move stakes around from meeting to meeting to a certain extent but their total stake allocation for the year is governed by hrnz .Methven has in the past and probably still, although the figures our now a secret produced the best overall gbr in the country. That means they put back over $600,000 above funding back most years,  second to none from a bunch of volunteers ( LEGENDS).

so what your saying seems to be methven will pay bigger stakes on the bigger days and underpay stakes on days like thursday.

so how come  clubs like timaru and oamaru  pay good stakes all year around,yet don't have the assets ,cash in bank,investments within cooee of methven..

they too being run by volunteers. 

Just pionting that out.

You seem to be saying 2 things.

1)because methven can create greater returns to the industry, it in some way justifies the paying of poor stakes on some racedays.

2)that there is no relevance to how much cash and investments a club may have just sitting around,in methvens case millions,its all about what you are funded by hrnz.

Well fair enough,at least your up front about why the club desn't pay owners more,

its just ,isn't it reasonable to ask,aren't  other clubs who are also run by volunteers, trying harder to help out owners by returning more in stakes to the run of the mill horse owners,than methven.

Just saying that appears to be the case as those clubs won't be getting anymore funding than the methven club for their low key meetings..

This post is nothing about personalities or how well a club is run on race day,its about the focus some clubs put on helping owners out through stakes compared to other clubs.

Edited 16 hours ago by the galah

[Westview]

8 hours ago, the galah said:

so what your saying seems to be methven will pay bigger stakes on the bigger days and underpay stakes on days like thursday.

so how come  clubs like timaru and oamaru  pay good stakes all year around,yet don't have the assets ,cash in bank,investments within cooee of methven..

they too being run by volunteers. 

Just pionting that out.

You seem to be saying 2 things.

1)because methven can create greater returns to the industry, it in some way justifies the paying of poor stakes on some racedays.

2)that there is no relevance to how much cash and investments a club may have just sitting around,in methvens case millions,its all about what you are funded by hrnz.

Well fair enough,at least your up front about why the club desn't pay owners more,

its just ,isn't it reasonable to ask,aren't  other clubs who are also run by volunteers, trying harder to help out owners by returning more in stakes to the run of the mill horse owners,than methven.

Just saying that appears to be the case as those clubs won't be getting anymore funding than the methven club for their low key meetings..

This post is nothing about personalities or how well a club is run on race day,its about the focus some clubs put on helping owners out through stakes compared to other clubs.

I'll get you the stakes funding for the meeting, because it is basically called an industry day we are funded accordingly. As to having a large amount of money invested the club is using the return on that investment to bring the facilities up to date like the stable block the next stage of that is being bought forward thanks to the wind and a partial insurance payout. As to sitting on a large amount with aging facilities like the grandstand which currently reaches earth quake ratings but may not in the future we as a club want to make sure in the future we could rebuild something and if you don't think that could happen just ask Nelson. Financing stakes is solely the responsibility of hrnz if we start subsidizing them do you not think they would just pay us less.

The club is about to reach it's 100year anniversary in that time the former committee's have been very prudent with their finances to put it in the position that it's in and the current committee are no different. 

[Westview]

13 hours ago, Westview said:

Stakes are paid by hrnz , a club can move stakes around from meeting to meeting to a certain extent but their total stake allocation for the year is governed by hrnz .Methven has in the past and probably still, although the figures our now a secret produced the best overall gbr in the country. That means they put back over $600,000 above funding back most years,  second to none from a bunch of volunteers ( LEGENDS).

Methven did move stakes around and actually put more money into this meeting we were funded 8,000 for every race . As for other clubs having higher stakes take a look at their gbr you might find their stakes are subsidized by clubs like Methven, Banks Peninsula and very few other's . Of note we asked HRNZ to programme the races lowest to highest which they did in most cases to try and cater for our most economic horses,  personally I think the club is trying its best but are always welcome to constructive suggestions .