SIGN UP LOG IN
 

Jockeys rebel against the 20 million hole in horse betting

Published by

June 24, 2019 5:34 pm

Jockeys rebel against the 20 million hole in horse betting

The horse race in Royal Ascot attracts many noble celebrities. But the British betting business is shrinking. Now trainers and riders are threatening to boycott races. Is the royal show also in danger?

At shortly before 2 pm a murmur goes through the rows of spectators. The Royal Procession begins! The Queen is coming! Surrounded by a dozen riders in bright red uniforms, four open carriages glide down the Straight Mile, the racetrack in front of the grandstand. In the second carriage, the monarch sits by her side as Queen Máxima of the Netherlands. Elizabeth II hasn’t missed a single race of the five-day event in 64 years. When she drives up in her carriage, Royal Ascot is officially opened.

Ascot has no equals in the world of horse racing. The competition in Berkshire, one hour west of London, is not only more than 300 years old. It is also pure glamour. The exquisite dresses and hats of the ladies, the classic tails and top hats of the gentlemen. The dress code is strict and mandatory.

Also financially the race is “Upper Class”. There are 8.2 million Euros of prize money to be won, which makes Ascot the best-endowed race in the kingdom. A good 300,000 visitors, who pay up to 100 euros for the entrance fee, count the racetrack at the royal race, which always takes place in June. But while the champagne corks are popping in the Royal Enclosure, the atmosphere among coaches and jockeys is not very festive. This year, their industry has to cope with a budget deficit of 20 million euros.

Favourites win the top-selling races

The reason for this is the shrinking income of bookmakers. The British betting industry has to pay ten per cent of its profit annually from horse bets that go into professional horse racing. Owners, coaches, jockeys and teams receive their share via a key. In the 2017/18 season, the payout, organised by the Horseracing Betting Levy Board, was 108 million euros. For the current season, only 88 million Euro is forecast.

The reason for this is the falling profits of betting providers. William Hill, Ladbrokes, Coral and others are competing for customers with increasingly attractive odds. Because many customers start with horse bets and then switch to other sports bets. But the tempting chances of winning diminish the profit of the bookmakers.

Also, this spring the favourites won the races with the highest turnover. One example is Grand National in Aintree, the national betting event, where almost 350 million euros were bet on the winner in 2019. Also this year the Irish thoroughbred Tiger Roll won, for the second time in a row. In Cheltenham, the other big race, favourites also won.

But the prospects for the participants are also gloomy for another reason. Since April, Wettshop customers have only been allowed to throw two pounds (2.25 euros) per game in gaming machines. So far, it has been a hundred pounds (112 euros). The conservative government wants to put a stop to gambling addiction. “I have seen how gambling addiction destroys lives and harms our society,” said the responsible minister Matt Hancock, explaining the drastic step.

According to industry experts, in the next two years, almost a third of the betting shops that are part of the street scene in England’s cities could be about to close. The pot, which also feeds horse owners, trainers and jockeys, is getting smaller.

Jockeys and coaches want their fair share

“It was not until 2018 that the first eight horses were introduced to receive prize money. Until then, it was only the first four. But because of the declining bookmakers’ money, this is already up for grabs again,” says Rupert Arnold.

The head of the National Trainers Federation studies the brilliantly cleaned racehorses with an expert eye at the Pre-Parade-Ring, which are presented here before the start. “We now have to ask ourselves the inevitable question: Will coaches and jockeys get their fair share of the business? We want more transparency when it comes to racetrack sales. But also in terms of income from TV broadcasting rights. In football, it has long been the case that clubs get their share. After all, there is no show without coaches and players.”

Jockey stars like Frankie Dettori with his miracle horse Stradivarius have no problem with the unequal distribution of profits. His fortune is estimated at 18 million euros. This time, too, he took more than a million pounds of prize money from Ascot. “For the top people, there is more money to win than ever before. But Dettori and a few others are the exceptions. On average, a jockey earns no more than 30,000 euros a year,” says Paul Struthers, head of the Professional Jockeys’ Association.

There are 380 professional jockeys in the country; seven years ago there were 450, “They work 70 to 80 hours a week. Every year they drive 100,000 kilometres, from race to race,” says Struthers. In February, jockeys and coaches threatened to boycott races for the first time. “We hope that the discussion with the organisers will now take the right direction,” says Struthers.

A conversation that should interest the Queen herself. After all, her horses have already won a trophy 23 times at Royal Ascot. The royal show must go on.

More News

PSG.LGD and OG in the Upper Bracket Final of the Dota-2-WM

PSG.LGD and OG in the Upper Bracket Final of the Dota-2-WM

The Dota 2 World Championship The International in Shanghai is heading for home straight: five out of eighteen teams are…

Fortnite World Championship: One of the kids will go home with $4 million

Fortnite World Championship: One of the kids will go home with $4 million

At Fortnite the world championship is scheduled for the end of July. The favourites are professionals aged 14 or 15.…

New record start the day at the WSOP Main Event Day 1C!

New record start the day at the WSOP Main Event Day 1C!

With a real quake, the start days of the WSOP Main Event ended with day 1c. Not only 4,879 players…

E-Sports: FIFA 19 Global Series Day 1

E-Sports: FIFA 19 Global Series Day 1

At the FIFA 19 Global Series playoffs on PlayStation 4 in Berlin, three Germans survive the first day. The German…

For Mbappé: PSG wants Mega-Release and Real-Youngster

For Mbappé: PSG wants Mega-Release and Real-Youngster

PSG megastar Kylian Mbappé (20) is currently dominating the headlines once again. One is his dream goal against Nantes by…

Prize pool of the WoW tournaments comes entirely from the fans

Prize pool of the WoW tournaments comes entirely from the fans

The eSports fans are angry at Blizzard because the prize pool in World of Warcraft comes this time completely from…

No more access to online casinos without a Swiss license

No more access to online casinos without a Swiss license

From 1st July 2019, it will no longer be possible in Switzerland to access the websites of online casinos that…

Sock wins in Paris and leaves Carreno without London Masters.

Sock wins in Paris and leaves Carreno without London Masters.

The American will have the last place for the last big event of the year, which starts next Sunday. When…

Kyle

Kyle "Bugha" Giersdorf is "Fortnite" world champion

16-year-old Kyle "Bugha" Giersdorf wins 3 million dollars prize money at the first "Fortnite" World Championship. Kyle "Bugha" Giersdorf, a…

888poker LIVE 2020 tournament schedule announced

888poker LIVE 2020 tournament schedule announced

Calendar out - 888poker LIVE has released the 2020 schedule of its live poker tour! The tour will return to…

Erik Seidel at the 2020 Aussie Millions Main Event final table

Erik Seidel at the 2020 Aussie Millions Main Event final table

It was to take just over 14 hours to determine the final table of the Aussie Million A$10,600 Main Event…

FIFA vs. PES - the battle for licenses

FIFA vs. PES - the battle for licenses

FC Bayern Munich worked together with FIFA developer EA for three years - now it's suddenly over. The record champion…

Devilfish Cup - Perfect start for Niko Koop
Devilfish Cup - Perfect start for Niko Koop

As part of the World Poker Tour Nottingham, the Devilfish Cup has been taking place since yesterday at the famous…

What you can expect from iPoker in the future
What you can expect from iPoker in the future

For ten years, David Pomroy was active as an online pro player himself before becoming Head of Poker at iPoker.…

SCOOP 2019 - Four victories for the DACH Community on Friday
SCOOP 2019 - Four victories for the DACH Community on Friday

SCOOP 2019The Spring Championship of Online Poker 2019 on PokerStars was already in its 6th day yesterday and our community…

Austria-Gambling Law : Stelzer pushes for novella, Fuchs sees
Austria-Gambling Law : Stelzer pushes for novella, Fuchs sees "no good style

LINZ/WIEN: Fight against illegal gambling: The amendment was announced for autumn 2018, but is still not available. State Finance Secretary…

Victory for North America: Complexity wins FIFA eCLUB World Cup
Victory for North America: Complexity wins FIFA eCLUB World Cup

The FIFA eClub World Cup in Milan has a surprising winner. The North American team Complexity won the title in…

Six Invitational: SSG takes the title
Six Invitational: SSG takes the title

The Six Invitational, the Rainbow Six Victory World Championship, is over. In the end, Spacestation Gaming triumphed with a remarkable…

Germany: Payout ratio in online casinos
Germany: Payout ratio in online casinos

Especially as a new casino visitor, you want to gain experience in online casinos and will you often wonder what…

CS:GO and FIFA20: Poland´s Government organises Esport tournament
CS:GO and FIFA20: Poland´s Government organises Esport tournament

For most people, quarantine is boring in the long run. The Polish government reacts and organises an Esport tournament to…

The €77 Summer Cup with €30,000 GTD is coming to Banco Casino
The €77 Summer Cup with €30,000 GTD is coming to Banco Casino

The poker highlight of the month is on the programme at Banco Casino Bratislava from 24 to 28 July 2019.…

The Rocket League Season 2020
The Rocket League Season 2020

After the World Cup is before the season. Who will follow NRG in 2020? The Rocket League Championship Series Season…

Mybetting Deals Tools

Surebet by BetBurger

Surebet by BetBurger

BetBurger is a service focusing on arbitrage bets, also known as sure bets. It turns sports betting into an investment.

Matched Betting by OddsMonkey

OddsMonkey

OddsMonkey offers matched betting services with features to enhance your profits with the best betting offers.

Live Sport Results and Statistics

Live Scores

Always keep ahead of the sports betting game with our real time results and statistics!

2000+ Free Slots

Play the best online slots and your favourites from the biggest developers for free right here!