Think Tank Carlscum, Essendum, Poormond and the Aints claim huge tax breaks for running pokies for 'community benefits'

[Saveloy Rockstar]

Other sports cost to entry to participate is $100-$500. Racing cost to entry to participate for one horse is more like $30-$50k

The only reason for that is their capacity to earn money if successful, which again is down to gambling. Otherwise they’d be giving them away for free at the gates of the glue factory (OK exaggeration but intrinsically true)

Racing owns that much land they would just need to shut clubs and go smaller if gambling was phased out

99% of people who attend the races wouldn’t go if they couldn’t bet, and anyway the industry is supported mostly by the people who don’t even attend

Goes double for greyhounds

 

[AvantGardener]

The only reason for that is their capacity to earn money if successful, which again is down to gambling. Otherwise they’d be giving them away for free at the gates of the glue factory (OK exaggeration but intrinsically true)



99% of people who attend the races wouldn’t go if they couldn’t bet, and anyway the industry is supported mostly by the people who don’t even attend

Goes double for greyhounds

Horse feed, vet bills, cost of wages for training, cost of rent for where the horse stays. Those costs are 2-3years long before its even ready to race (if it is good enough to make the races) The costs are exuberant even before you factor in additional costs because of ability to win prizemoney.

Costs $200 for footy rego and boots. Even a decent golf kit and membership you could get away with $1000-$2000. If horses were free to feed/home and trainers/vets worked for free I am sure more people would own horses but as it is its easier to buy $100 footy boots and be guaranteed a game in the next month rather than spend $100K on multiple horses, invest years of time and not even be certain of getting a race starter.

When horses were cheaper most people had horses and a sport like harness racing had way more hobby involvement. As the saying goes, the rich used to have cars and the poor had horses, but now the rich have horses and the poor have cars.

I would argue around 25-50% of people at the races wouldn't even know a horse is going around let alone betting so your 99% figure is way off.

Have a look at AFL net profit for attendance V AFL net profit for TV and other non-attendance streams. Why would you bag racing for it.

 

[Saveloy Rockstar]

Why would you bag racing for it.

Because the industry would collapse overnight if you remove gambling. Same with the dogs and trots

You might as well say people would play pokies or roulette if they didn't pay out, just for the fun of it

 

[AvantGardener]

Because the industry would collapse overnight if you remove gambling. Same with the dogs and trots

You might as well say people would play pokies or roulette if they didn't pay out, just for the fun of it

No it wouldn't. They would just need to downsize. Racing Victoria has $200M of net assets let alone what land the individual clubs own. That is more than enough capacity to exist at a level similar to Netball/Hockey etc.

Vast majority of owners and trainers already do it for bugger all payout and do do it for the fun of it already.

Crowds would be retained in a large capacity - it is still a social outing. Vast majority of girls don't know a horse is running and plenty boys are there for a look at the 'fillies'.

Why can you pay money to attend games, pay overinflated drink/food prices, buy apparel and memorabilia but not spend that money on a TAB ticket?

 

[Feraligatr]

99% of people who attend the races wouldn’t go if they couldn’t bet, and anyway the industry is supported mostly by the people who don’t even attend

Goes double for greyhounds

i would go if they let me pat the horses and dogs. I just want to see the animals. I like them.

 

[AvantGardener]

i would go if they let me pat the horses and dogs. I just want to see the animals. I like them.

Head out to Melton on a Saturday night and I am sure most trots trainers would oblige for a pat of their horse!

 

[Tiger2709]

Troll? Facts are facts postcodes, though it’s plain that that’s a foreign concept to you

What facts?

A troll is a troll.

 

[catscratchfever]

What facts?

A troll is a troll.

You should know, postcodes.

 

[Saveloy Rockstar]

No it wouldn't. They would just need to downsize. Racing Victoria has $200M of net assets let alone what land the individual clubs own. That is more than enough capacity to exist at a level similar to Netball/Hockey etc

Try reading an annual report... VRC gambling turnover for 2022 was almost $2 billion, yet they still made an operating loss and their current liabilities exceed their assets by $26 million. They had to take a $10 million line of credit from ANZ

 

[AvantGardener]

Try reading an annual report... VRC gambling turnover for 2022 was almost $2 billion, yet they still made an operating loss and their current liabilities exceed their assets by $26 million. They had to take a $10 million line of credit from ANZ

You dont even know the difference between Racing Victoria and VRC despite my above post even mentioning a difference between Racing Victoria and individual clubs. VRC is Flemington only.

Racing Victoria gets their % share of the $2 billion (taking your figure at face value) gambling turnover from TAB and other bookmakers. This is shown as $389M wagering income on Racing Victoria financials. This $389M generated from every club not just VRC.

VRC then gets admin funding (shows as $73M industry funding in their annual report) from Racing Victoria hence only $12M wagering and other racing income shown on their annual report.

Not privy to how the admin funding gets divvied up by RV but other jurisdictions the head authority are still profit driven machines so the Admin Funding they pay is as little as they can get away with so clubs financials suffer because of this. The admin funding isnt necessarily properly linked to that clubs gambling turnover.

VRC current net asset ratio doesnt mean anything. As I previously said Racing Victoria would just need to downsize. Sell off clubs and turn the non-current asset (land) into a current asset (cash). VRC net assets $222M paints a very different picture.

As for your $10M line of credit, VRC total borrowings only went up $5M and it would appear that figure closely aligns to how much they would have spent on PPE in that period so no big deal.

 

[Saveloy Rockstar]

TL;DR

You dont even know the difference blah blah blah I had my wisdom teeth removed so I could fit more balls in my mouth

I'm well aware they're different, I cited the VRC annual report because I had already seen it

TBH I couldn't give a flying * about horse racing and have already wasted far too much time on it ITT

Go post on BigNags if you want, apologist

 

[AvantGardener]

TL;DR



I'm well aware they're different, I cited the VRC annual report because I had already seen it

TBH I don't know anything about horse racing and have already wasted far too much time on it ITT

Go post on BigNags if you want, apologist

The VRC and $2B turnover are irrelevant so was stupid to compare the two.

I have disproven your claim racing would shut down without gambling.

Now GTFO

 

[Saveloy Rockstar]

The VRC and $2B turnover are irrelevant so was stupid to compare the two

I didn't

I have disproven your claim racing would shut down without gambling

Now GTFO

This is BigFooty, you GTFO

 

[Chronz]

New gaming rules come into effect next year. Depending on how strict the law is (maximum daily limit, carded play only), hopefully these greedy venues and even greedier venue managers (most are sociopaths) get the comeuppance they deserve. I play pokies from time to time but the RTP over the last few years is no ******* way at the minimum 87% lawfully required.

 

[AvantGardener]

I didn't

VRC gambling turnover for 2022 was almost $2 billion, yet they still made an operating loss

You have problems

 

[AvantGardener]

the RTP over the last few years is no ******* way at the minimum 87% lawfully required.

You and 100 others could lose $1000 each and then the 101st person wins $87k.
You dont put in $1000 and get $870 back.

 

[Chronz]

You and 100 others could lose $1000 each and then the 101st person wins $87k.
You dont put in $1000 and get $870 back.

RTP minimum is calculated by each machine over one year of play (or by each individual game per machne). Of course each player won't see their 87% back as wins and jackpots become larger. 15 years ago you at least got some play for your money, now it's lose quick or snag a decent win.

 

[AvantGardener]

RTP minimum is calculated by each machine over one year of play (or by each individual game per machne). Of course each player won't see their 87% back as wins and jackpots become larger. 15 years ago you at least got some play for your money, now it's lose quick or snag a decent win.

Ok I thought you were equating your personal experience playing them and not winning 87% and applying that to say they arent paying out 87% in general. Apologies.

 

[Saveloy Rockstar]

You have problems

So do Carltank

 

[Grand Uncle Horace]

So do Carltank

Carltons version of Geelongs Cotton On is understood to be business opportunities to part sub lease pokies.

Delightful!

Would love to seen an ATO Audit of such arrangements.

But won’t happen just as investigations of cashies won’t happen.

 

[rdhopkins2]

Wayne got the message confused. He was asked to promote the lolNorf Casino featuring pokies and poker games with Kelly Stevens, not to poke her!