A window into racings future

[Wingman]

In England the racing industry lobbied hard to persuade the exchequer not to increase taxes in the budget released over there this week. They are delighted they have succeeded, no increases but sports betting is going to get a 60% hit, going up from 15% to 25% from April 2027. Betting on horse racing has been declining in England year on year so this will help in 18 months time but what will they, their industry leaders, do in the meantime to improve 'the racing product'?

I pose the same question to our industry leaders. An increase to the takeout on sports betting in NZ is not a case of if, rather when? Decent tracks, calendar/pattern and fields are critical to making our industry look attractive to the casual punter. 

[curious]

I doubt that would happen here. There is no takeout on sports betting here. It's all fixed odds. There is also no tax on it. I think if one were imposed on sports betting and not racing, it would be cried down. More likely to me that sports will claim a fairer share of the revenue that sports betting generates.

[Chief Stipe]

2 hours ago, Wingman said:

Decent tracks, calendar/pattern and fields are critical to making our industry look attractive to the casual punter.

I doubt the "casual punter" worries about any of those factors.  A regular punter might and a serious punter would.  Although the latter tends to look for value anywhere.

[Wingman]

1 hour ago, curious said:

There is also no tax on it.

Then you can guarantee there will be.  

[Chief Stipe]

1 hour ago, Wingman said:

Then you can guarantee there will be.  

LOTTO as well?  Will they also tax winnings?

[Shab]

2 hours ago, Wingman said:

Then you can guarantee there will be.  

Wouldn’t be able to bring in any tax on racing or sports until the end of the partnership.