Racing in Hong Kong: Staying ahead of the pack

by | 05.27.2012 | 12:35pm
  • click above & share!
    X
  • click above & share!
    X


  • click above & share!
    X
  • click above & share!
    X

Horse racing in the United States and Europe at many times conjures up images of lawn dresses, picnics, and fancy women’s hats (especially if it’s Derby Day or Royal Ascot).

In Hong Kong, racing is much less flamboyant but no less intense. In this city, horse racing is followed with an almost religious fervor. On a typical raceday, in a city of seven million people, the Hong Kong Jockey Club will process around six million bets.

The Wall Street Journal recently interviewed HKJC CEO Winfried Engelbrecht-Bresges, and spoke with him at length about the challenges that face the Hong Kong institution.

» Read more at Wall Street Journal
New to the Paulick Report? Click here to sign up for our daily email newsletter to keep up on this and other stories happening in the Thoroughbred industry
  • Rickbarton

    thanks for posting that Ray. 

  • stillriledup

    Hopefully one day Americans can bet into the Co mingled pools over there.

  • David P

    They also do not allow Exchange Wagering. It should be noted that the most successful and best racing jurisdictions have refused Betfair entry. Proving that what is best for racing is, ultimately, best for the fan.

  • Tinky

    That’s utter rubbish. HK is the most protective racing jurisdiction in the world, and to suggest that its success is somehow based (even partly) on a refusal to allow exchange wagering is ignorant.

    The fact is that total handles have INCREASED everywhere that exchange wagering has been offered. It is unquestionably a superior wagering platform, and the only serious hurdle that it brings with it is the question of revenues returned to the content providers (i.e. racetracks).

  • David

    One (and only one) thing that makes HK successful is that it’s a closed shop.  You won’t find anything imported competing against homegrown product.   Those guys are smart enough to realize if the world had any desire to bet on HK racing (which is questionable at best), Dong deals will require reciprocity which, is a non-starter.  Same holds true for imported horses; the December thing is nice but don’t look for invitations to extend beyond this nice little PR event.  No, HK is doing just fine w/o the rest of the world’s distractions.

  • David P

    Sorry Tink, Just as you stated, no EB means more revenue to the tracks. More revenue to the tracks means higher Purses. Higher purses means better horses. Higher purses means more horses. More horses means more competitive racing. Competitive racing is better for the bettor. Oh yeah, and you don’t have a bunch of crooked trainers and jockeys betting on their horses to lose. You have a long uphill battle to get your 5-1 on a 7-2 shot. Plus, Stephen Burn and Tony Allevato have not endeared themselves to the racing community with their arrogance, terrible TV station and juvenile on-air product.

    Good luck with that.

  • Tinky

    I’m not going to bother re-stating the clear rebuttals to your specious arguments, as any interested readers can search the archives.

    Betfair’s corporate behavior thus far in the U.S. market has nothing whatsoever to do with the fundamental exchange wagering platform. You, like so many other poorly informed critics, conflate a company with a wagering platform. They are not one in the same.

  • David P

    I do not disagree that in the right hands EB may be something worth investigating. But, unless you are privy to other information, Betfair is the only player that could have EB up and running in the immediate future. For anyone else it would be years away, at best.

  • stillriledup

     I think i wouldnt mind letting HK bet into America’s pools, i would love the padding. Could you imagine 200k tri pools at Mountainner and Charles Town? I COULD!

  • David

    The last thing the RHKJC wants is for its citizens to go betting on Charles Town, Mountaineer or any US pools.  Such action translates to fallout on domestic product on lesser margin stuff to support live racing in country.   The kicker is that HK players could care less about US racing, particularly 3rd tier tracks.

  • Tony

    Hong Kong doesn’t charge for PPS

  • Steve

    David,
            That is not true. We won the QEII in Hong Kong, with a South African horse that we owned named Irridescence. See beat a British horse named Ouija Board, who won the Filly’s breeders cup ladies turf twice. The purse was 1.8 million US. They treated me like royality. Everything was first class and comped. They really know how to operate a racing association.

  • stillriledup

     Sorry David and Tinky for getting in the middle of your debate, but i have to suggest that the idea that higher purses means better horses which begets better racing and better for the bettors has been already tried with slots monies. All slots money went to the purses, none went to the bettors in the form of carryovers.

    All the billions of dollars of slots money that went into the pockets of owners, trainers and jockeys didnt really help those slots tracks. Look at Mountaineer. The betting pools are still miniscule, the horses are some of the worst in the nation also.

    As far as jockeys and horses betting on themselves to lose, i’d welcome that. I’d be more than happy to lose a few ‘fixed races’ to get out all the crooks who are too dumb to realize they’ll be caught. And, get this, if you’re caught fixing an exchange wager, it might be worse for your career than if you are caught fixing an actual race.

    Lets get rid of all the crooks one by one, i’d be more than happy to lose fixed bet after fixed  bet if it meant that every bet i lost, one more crook was caught and kicked out of the game for a very long time. I have a feeling however that i’ll be on the correct side of the ‘fix’ enough times to make be ‘win some lose some’, so it won’t cost me a heck of a lot of money to get rid of the bad apples.

    I do agree with your points about Stephen Burn and Tony Allevato and them sticking the “BETFAIR” word up our rear ends every 5 seconds during the Hollywood telecats, that does reek of arrogance and makes their tv station unlistenable.

  • Bob Hope

    a great piece on not only growing horse racing but growing quality, the single most important ingredient in the process.  HK had a steep learning curve but under intelligent leadership, has accomplished marvelous things ! one thing lost in the debate is that they have not been encumbered by a breeding program and /or claiming races, leaving the club the freedom to buy prize pedigree….and geld them.

  • Stanley inman

    Looking at racing at hong kong,
    Might as well be looking thru a telescope at another planet;
    It Has nothing to do with our universe of racing.
    American racing’s trajectory is destined for full eclipse by the rest of the world.
    Proof?
    That our conversations (here) include mountaineer, & Charlestown in our future.

  • David P

    Hey SRD, Thanks for joining in. Now in regards to the slot money, the watchword for everything American has always been greed. When the tracks got the slot money, they stretched that money out, more tracks, more dates, rather than consolidated and build up what they had. The last time I  looked, and I could be wrong, HK ran 2 days a week at 1 track on those days. Wednesday at Happy Valley and Saturday at Sha Tin. Getting all that slot money was a perfect opportunity to strengthen the sport. But greed took over and the slot money was diluted. There should have been a plan and there was none. HK has worked very hard to figure out how to make racing work and one can not deny they have been successful. One of their criteria is not to allow Betfair in. The fact, that they have been amazingly successful in what they have done means to me that they have done the right thing. If that means no Betfair, then that is right too. Now, we can debate whether or not Betfair would make HK better but I’ll stick to the proven path to success. As for Betfair/TVG, there are many more examples of Stephen Burn’s arrogance and Tony Allevato’s ineptitude rather than them ramming Betfair Hollywood Park down our throats. Just read the CHRB transcript regarding Exchange Wagering for Mr. Burn. As for Mr. Allevato my point is proven every time that product is viewed, juvenile, at best, and totally lacking production values or professionalism.

  • Tinky

    Singling out the lack of exchange wagering as being important to the HKJC’s success is – again – ridiculous.

    They also have a highly limited simulcast menu. Perhaps THAT is the driver of their success.

    They also have a highly limited number of races open to foreign horses. Perhaps THAT is the driver of their success.

    They also have virtually no competition for the gambling dollar. Perhaps THAT is the driver of their success.

    They also have a unique demographic (e.g. huge pent up demand from wealthy Chinese). Perhaps THAT is the driver of their success.

    Etc.

    Etc.

    Etc.

  • David P

    I did not single out EB. I just said it was one piece of the puzzle. Since HK is so successful, I will consider everything they do as contributing to that success, including all the things you mentioned. I can not say that if you change one element that it would be as successful. You are assuming facts not in evidence. I deal with the facts.

Twitter

follow us on twitter »