Tuesday 6. December, 2016

Spring Racing Carnival Experiences Wagering Growth

Racing Victoria has announced the success of this year’s Spring Racing Carnival with a report that indicates that wagering increased 4.7 percent to $2.28 billion over the three months of feature racing.

Betting data was presented for the three months from Memsie Stakes day at Caulfield on August 27 through to Kilmore Cup Day on November 20. The Caulfield Cup, Cox Plate and Melbourne Cup accounted for 44 percent of betting turnover for the spring carnivals with a 7 percent increase to $1.02 billion in turnover for wagering providers.

“Wagering turnover across each of Victoria’s three major club carnivals at Caulfield, Moonee Valley and Flemington was up significantly during the 2016 Spring Racing Carnival, while attendance growth was also recorded at the Caulfield Cup Carnival and Melbourne Cup Carnival,” commented Bernard Saundry, departing chief executive of Racing Victoria.

Country cup turnover increased 14 percent, with Bairnsdale enjoying the largest increase, followed by Ararat, Kilmore and Ballarat. Total attendance across all major spring meetings was up 0.8 percent to 470,845.

“While these marquee meetings in Melbourne remain the centrepiece of the Spring Racing Carnival, it was pleasing to see the growth in wagering and attendance across country and regional Victoria with more people enjoying their thoroughbred racing,” said Saundry.

“The standalone Saturday meeting at Ballarat, as well as the Sunday Cup meetings at Bairnsdale, Ararat and Kilmore are among the great success stories of this year’s Spring Racing Carnival with each delivering terrific growth in attendance, turnover and community engagement.”

Saundry ensured that Racing Victoria is looking for ways to reward participation and maximise returns to the industry. As such, a review will be undertaken to examine the level of prize money awarded in Victoria to ensure it is on a par with New South Wales.

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