THE SUNSHINE COAST NEWSPAPER COLUMN - WHEN CHECKING THE SMALL PRINT CAN BE VERY IMPORTANT

By Graham Potter | Sunday, January 10, 2016

Graham Potter writes a weekly column for the Sunshine Coast daily. Due to demand from those having trouble accessing the paper these columns are now also published on HRO courtesy of the Sunshine Coast daily.

Work this one out.

A promotional e-mail put out by Magic Millions in the lead-up to Australia’s richest race-day carried the headline: BetSmart with Magic Millions Official Wagering Partner - Betfair Exchange. The e-mail then carried an all-around advert pushing the benefits of betting with Betfair.

Betfair is one of several business’ who partner with Magic Millions in their January extravaganza, so for Magic Millions to promote an entity that with which they are in partnership would not normally raise any eyebrows, but this particular example would seem to be the exception to the rule.

Why?

Well let’s take it one, simple step at a time.

Racing Queensland’s revenue is linked to turnover on Ubet. The more punters spend on Ubet, the better the bottom line for Racing Queensland. The better the bottom line for Racing Queensland, the better the lot of all of racing’s stakeholders and participants in Queensland.

Racing Queensland is supporting Magic Millions via a believed substantial financial input in a long term deal. The exact annual amount has not been disclosed but the deal is in place and had been well publicised.

So, whatever the specific details, Magic Millions have accepted Racing Queensland’s financial input and then, quite astoundingly, they have gone on to suggest, via the above mentioned e-mail, that punters should bet with Betfair, which is opposition to Ubet.

If Magic Millions advice is followed and punters bet with Betfair instead of Ubet it would take money away from Racing Queensland. Taking money away from Racing Queensland is taking money away from all racing stakeholders and participants in Queensland.

So, the question comes down to, is this a moral issue only and, if so, how was Racing Queensland that naïve in negotiating deal that left open that loophole?

In other words, is the onus simply on Magic Millions to do the right thing and not kick some of that Gold Coast sand into the face Racing Queensland by backing a Ubet competitor ... and if they don’t, so be it?

If so, why did Racing Queensland not put some constraints in place to see off such a clash of interests before even signing on the dotted line?

In truth, punters are probably above it all.

They will go where they get the best return, as is their right, irrespective of who their outlay actually benefits.

But, hey, that still doesn’t detract from the point that when you see Magic Millions, who has taken money from Racing Queensland, advertising and promoting a competitor to the Racing Queensland/Ubet team, you cannot help but wonder about the true spirit of that arrangement and if both sides got a fair deal.

Either way, Magic Million’s standpoint that you should, ‘BetSmart with Magic Millions Official Wagering Partner - Betfair Exchange’ is clearly out of line with the objectives of Racing Queensland who financially supports their race-day.

More’s the pity!

This might be a small matter in the grand scheme of things but racing has to learn that the devil is in the details and paying attention and taking care of every detail, large or small, is the basic key to prosperity ... in other words, it is reason why some companies (like Magic Millions) continue to thrive while other business’ (like Racing Queensland) continue to flounder.

While questions can be asked on several fronts about the deal struck between Racing Queensland and Magic Millions, there can be no doubt that, on the track, on race-day, Magic Millions brings people streaming into the racecourse, reminiscent of the days of hold. That alone is a success story for which Magic Millions and the Gold Coast Turf Club deserve absolute credit.

Those who criticise the Magic Millions concept are probably the same people who say you can’t get people to the racetrack anymore. The long, long queue at the front gate of the Gold Coast Turf Club at 9am yesterday morning told another story.

As John Schreck said in his personal blog on HRO earlier this week ‘without the sport reinventing itself in some way it is going to be in awful trouble.’

Here’s to more innovation!