Kon Kuts and runs

[imaufo]

Bookie cuts his losses ... and runs CRAIG YOUNG AND LOUISE HALL

February 19, 2010


AUSTRALIA'S biggest bookmaker, Con Kafataris, is abandoning the Sydney betting ring with the on-course wagering market in free fall and the future of other bagmen in doubt.

''I was averaging turnover between $2 million and $3 million on a Saturday but I'm now lucky to hold $750,000,'' Mr Kafataris told the Herald yesterday.

The millionaire bookie blames ''draconian'' legislation for the decline. He and other bookmakers have lobbied the state government to allow round-the-clock betting, internet access for clients and other betting options available to interstate rivals.

''It is like I'm running a fruit shop and I'm only allowed to sell apples and the shop next store sells apples, oranges, mangoes, grapes, the whole lot,'' he said. ''How can I compete?''

The chief executive of the NSW Bookmakers' Co-operative, Peter Fletcher, said Mr Kafataris's departure after the autumn carnival would be ''a huge loss''.

And he may not be the last to go, he warned.

''The reality is that bookmaking within NSW will be totally dead within a decade unless urgent regulatory reforms are embraced,'' he said.

Mr Fletcher said turnover in NSW over the past 12 months was ''the worst in living memory''.

''They are down 22 per cent … back to the same level that it was in 1975.''

The Minister for Gaming and Racing, Kevin Greene, said the government has made substantial changes to improve competitiveness.

"The NSW government has also given NSW bookies a $5 million injection because we dropped the 1 per cent turnover tax. Other jurisdictions still charge turnover tax on bookmakers,'' Mr Greene said.

"My responsibility as minister is to the whole industry, including the 50,000 people who have jobs in racing, not just millionaire bookies who have done very well from racing in NSW."

Mr Kafataris is likely to continue to do very well.

His Alice Springs-based internet betting company Centrebet is booming and overseas buyers are circling.

''The business is growing 20 per cent year on year, it will turn over $1.2 billion this year,'' Mr Kafataris said.

http://www.smh.com.au/sport/horserac...0218-oizi.html

[jb]

Whats happenned to all the punters - I guess everyones betting with the online bookies ?

[Seabiscuit]

Yep, online betting is on the up and up but nobody can be bothered going to the course these days so it is sliding badly

From the Aussie Racing Fact Book 2009

Bookies On Course
1993-95 turnover was about 1.4 billion
1998-2000 turnover was about 1.0 billion
2006-2009 turnover was about 0.70 billion

So in about 15 years on course bookie turnover in Australia is down 50% in raw dollars and probably down 75% to 80% versus inflation

Bookies phone and internet
1994-96 turnover was about 0.35 billion
2000-2002 turnover was about 0.60 billion
2002-2004 turnover was about 1.7 billion
2007-08 turnover was 2.9 billion
2008-09 turnover was 3.8 billion

So off course bookie turnover has increased over 10 times in raw dollars in the last 15 years and probably about 5 times vs inflation

[imaufo]

WHY only 9700 people went to the Blue Diamond is as perplexing as it must be troubling for Melbourne Racing Club officials.


Racing's bid to lure people to the track continues to struggle, apart from in the five-week window in spring, when it's viewed as an event not to be missed.

Just 6300 and 5500 attended the recent Orr Stakes and William Reid Stakes meetings, and Saturday was just the second time Diamond day attracted fewer than 10,000.

The meeting drew 30,835 in 1973, more than 26,000 saw Rancher win in 1982 and 14,189 were there to see Road To Success score 10 years ago.

http://www.superracing.com.au/herald...the-fans/12452

[imaufo]

To go to the races at randwick would take me about an hour and a half.
Having paid the bridge tolls and petrol, I would be stuck in traffic at Randwick before driving inside, then have to walk 15 minutes from the carpark ( no good if raining as your feet get wet) then you have to pay 15-25 dollars to get in, another three dollars for a formguide...i am down 2 hours of my time and 50 dollars before I even start to have a bet. Forgot about the soggy ham roll on cheap white bread (10 dollars) and a coffee ( 3 dollars) Then if you are betting on course you have the option of terrible bookies rip off prices or terrible TAB prices that chage minute to minute and get smashed at the jump.

Better off at home with snacks, a nice cup of tea made just the way i like it playing betfair and the corporates.

[jb]

agree , better being home & watching it .

Same up here in HK - people going to the track is in decline but lately the t/over is on the up .

[imaufo]

Please fuck off med. that means go away...and preferably dont come back.