MY CALL - THE RISE AND RISE OF FIXED ODDS BETTING

By David Fowler | Tuesday, February 14, 2012

David Fowler is the principal thoroughbred caller for Radio TAB. David, who is a keen form student and punter, has enjoyed a lifetime involvement in the racing media. His personal blog, ‘My Call’, appears exclusively on HRO.

When "they" tell you fixed odds betting is growing all the time, believe it.

It's only when you examine the figures in black and white that you understand how powerful this "second arm" of the TAB has become in terms of win and place turnover.

Take Eagle Farm last Saturday, for example. Fixed odds betting does not trail in the wake of the traditional win and place turnover, but runs more than a respectable second. You could almost term it "bridging the gap"

There are some interesting points to be made after examining the whole box and dice.

Firstly, trends that begin on Thursday when trading open rarely change.

In other words, where the "early" money is simply builds in stature as race-time approaches.

I've said it before … and it bears repeating … that the money trail we discuss in our 10.30 fixed price segment on Radio TAB is an outstanding lead to where the smart money has gone and is going.

I haven't kept the stats but a strong percentage of horses that are mentioned as the "market movers" invariably win.

Secondly, the biggest goes on fixed odds are the same ones backed at the track.

You don't see one "off the map" at the track that hasn't found the same support on TAB fixed odds or vice versa.

Thirdly, every runner meets with support on TAB fixed odds. On-track bookies regularly can't write a runner's name but even the despised outsiders hold a few hundred bucks on fixed odds.

Why has fixed odds betting become so powerful and continues to encroach the traditional market?

Odds offered are good. Final percentages land at around 115%.

It's there for everyone to have a crack at from early Thursday afternoon.

I've heard all the gripes about how prices change and how you get cut back but, take my word, the figures don't lie and the punting public can't get enough of it.

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While this may portray a glamour picture, there are some sobering spin offs.

The rise and rise of fixed odds betting certainly dilutes the strength of the traditional win and place pool which is the main revenue earner for prize-money to the racing industry.

The return on fixed odds betting is not as generous and this will, or has, become an issue that will have to be thrashed out between the racing industries and the TAB's sooner than later.

Only recently released half-yearly results from Tabcorp show a rise in fixed odds betting of 39.5% and a decline in NSW totalisator revenues of 7.2%.

And spare a thought of on-course bookmakers!

The outdated laws that allow them only to take bets at the track is draconian and must be altered.

First it was the corporates they were up against and now the TAB has turned bookmaker as well. Little wonder their numbers have dropped alarmingly.

And let's not forget that while the TAB fixed odds arm can trumpet that prices are available on Thursday for Saturday meets, the same sort of boast can't be afforded to a Friday meeting at Ipswich, for example.

The fixed odds operator certainly follow the on-track market. Aren't bookies entitled to something for their intellectual property?

So while the fixed odds phenomena is a boon for punters and TAB shareholders, other parts of the industry view it a little more dubiously.

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Just to close off on the fixed odds discussion, Risk Aversion was by far and away the biggest go at Eagle Farm on Saturday.

Trading began at $4.50 and the money just kept rolling in until she was $2.30 fixed price at the jump.

Nearly a six figure amount was invested on her through Tattsbet fixed odds which would have seen a six figure wipe out if she had arrived.

And that's only one betting outlet!

Stay with her, She looked a bit pretty and didn't have the smoothest of runs in the
early part of the straight when she was trying to gather momentum.

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I know we've just put Christmas behind us but I'd look to put in an early request to the Brisbane Racing Club.

And, cheekily enough, I would like this present before next Christmas.

I've seen the new saddlecloth numbers used on interstate metropolitan tracks in recent weeks. They are beauties.

Considering the club is ready to embark on some new whiz bang camera technology, the saddlecloth request seems appropriate.

It would be a plus for both on and off track audiences.

Until next week.

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