[AusRace] And the end result will be?

[lloveday at ozemail.com.au]

Racing Victoria says it expects punters both on-course and online to benefit from its overhauled race fields policy, which was revealed to bookies this week.

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> In a significant shift from the current policy, RV confirmed a raft of
> changes which should leave punters better off.
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> RV hopes the changes will see punters benefit from better prices on
> Victorian races, both on-course and on the exchange.
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> It is also hoped that it will lead to more generous investment from WSPs
> on Victorian racing, especially on metro race days.
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> RV also said it expected the total race field income generated to remain
> broadly the same year-on-year on a net basis.
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> As part of the changes, RV confirmed:
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> • There will be a simplified race fields model, which will replace the
> 'greater of' monthly calculation on turnover and revenue;
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> • The removal of all race field fees charged on free bet turnover;
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> • Movement to a single race field fee rate for all meetings, plus applying
> an increase to pari-mutuel rates to remove the historic discount linked to
> VicTAB;
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> • Rates for on-course bookmaker activity set at 0.5 per cent;
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> • Replacement of the current threshold discount structure with new, more
> graduated structure; and
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> • There will be increased support for sophisticated punters, which will
> include stopping WSPs restricting MBL access when operating more than one
> brand and requiring WSPs to demonstrate genuine risk when applying robotic
> betting MBL exclusion.
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> CEO Aaron Morrison said the changes come following a comprehensive review.
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> "The enhancements are being made in line with the commencement of our new
> funding model here in Victoria and the initial feedback has been positive
> across different sections of the market," Morrison said.
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> "Wagering operators expressed a desire for a more predictable fee model,
> one which ultimately provides greater incentives for them to promote
> Victorian thoroughbred racing to their customers, particularly on feature
> race days.
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> "This new model provides greater certainty for wagering operators and a
> stronger incentive to provide punters with value and with it we expect
> punters to benefit from an uplift in WSP promotional activity on our
> racing."
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> Morrison said punters were at the forefront of RV's mind when making the
> changes.
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> "We've also sought to unlock enhanced value for sophisticated punters
> through a specific fee discount for Betfair on activity sourced from high
> volume customers," he said.
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> "The new model also provides further support for on-course bookmakers
> because they're an important part of our rich heritage and add to the
> race-day experience.
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> "Through fee reductions, they are encouraged to continue offering a highly
> competitive market that rewards those punters who head trackside.
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> "We want to see Victorian thoroughbred racing remain the primary product
> of choice for both wagering operators and punters and this revamped race
> fields model is designed to foster that, whilst maintaining critical
> funding to support returns to owners and participants."
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> https://www.racing.com/news/2024-09-12/news-industry-punters-win-in-new-rv-fields-policy--
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