Tag: australia
Melbourne cup – The race that stops a nation and wakes me up!
The Melbourne and I cup go back a few years now. Many moons ago, in the early days of my trading career, I got interested in the ‘race that stops a nation’ and learned that it really did stop the nation; they have a national holiday today in Victoria.
The start, Intrigue and disappointment
In the early part of my career, I completely ignored Australian racing. In fact, I pretty much ignored all overseas racing. So the early part of …
I think I’ve spotted a trend!
I must admit, the Melbourne Cup Carnival has got off to a slow start for me this year. So I thought I’d better check on whether I was underperforming, or whether there was something else going on.
Something else in going on.
I took the first two days of the Carnival from my records and analysed total turnover in the markets for those two days. Obviously it started from a lower base some time ago, but the peak was in …
Betfair Australia to focus on exchange business
Many thanks to posted on this thread on the forum for pointing out the news that is coming from Australia.
Basically Betfair sold their operations to Crown and Crown has done a deal to split off the Sportsbook business to BetEasy and retain the Exchange as a brand in its own right and to allow that to gain it’s own focus. It’s a complete volta-face from the situation in the Uk and is worth watching. You couldn’t have two more …
Melbourne Cup meeting – Day three
I was going to post up a breakdown of the big day, but the unfortunate circumstances surrounding the post race period put paid to that. Couldn’t bring myself to post enthusiastically about proceedings given that. In case you don’t know what happened the BBC has detailed the unfortunate set of circumstances.
From a trading perspective things went pretty well. I don’t expect to set records on every major race meeting now, due to the time I’ve been in the …
Melbourne Cup Meeting
Me and the Melbourne cup go back a few years now. Many moons ago I got interested in the ‘race that stops a nation’ and learned that it really did stop the nation, they have a national holiday today.
So, intrigued, I got up at 4am one dark winter Tuesday to see what all the fuss was about. Nothing really happened apart from a lack of sleep and I returned to bed disappointed. Back then I had converted have the …
Betfair exits Australia, but doesn’t
After months of speculation and a ducked question on the last conference call, Betfair confirmed this morning that they have exited Australia, but not entirely.
In a press release issued first thing this morning Betfair stated: –
BETFAIR GROUP PLC (“Betfair”) today announces that it has sold its 50% stake in Betfair Australasia Pty Limited (“Betfair Australia”) to joint-venture partner Crown Resorts Limited (“Crown”, ASX: CWN).
Betfair has concurrently entered into an agreement with Crown to continue to provide its …
Questions appear over Betfair Australia
Discussions are ongoing on the Bet Angel forum around speculation that Betfair may exit Australia: –
https://www.betangel.com/forum/viewtopic.php?f=32&t=9077
It would be a real blow to Betfair IMHO if they did consider exiting this territory. At their IPO it seemed like they were ready to take on the world and I distinctly remember part of the pitch being that being a listed company would give them more credibility in new territories. But instead, France, Germany, Spain, Greece, Italy etc. etc. etc. etc. …
Australia moves to restrict live betting
News from down under today that the government is ‘encouraging’ a ban on live betting odds during sports broadcasting in Australia. That great big stick of legislation is being waved to ensure implementation.
Prime Minister Julia Gillard said it was good news for Australian families, who were becoming “increasingly frustrated” with the spruiking of live odds on their television screens.
Full story here: –
https://www.businessspectator.com.au/news/2013/5/26/politics/pm-unveils-plan-ban-live-betting-odds
Black Caviar triumphs again
Black Caviar clocked up win number 25 out of 25 this morning at Randwick racecourse in Sydney.
She strode to an easy victory in the Group One TJ Smith Stakes. Her appearance completely overshadowed the running of the $1.5 million Australian Derby. Priced at 1.18 she accounted for £1.74m of £1.76m in matched bets on the race.
More speculation around her possible appearance again at Ascot still hangs in the air, as does the prospect of her meeting up with …
Melbourne cup
I’ll be interested to see what the Melbourne cup does overnight this year.
This is the first time it has been run since the turnover tax was implemented in Australia which the objective of protecting the incumbent operators in the market. I think the outcome, so far, has shown that traders don’t dominate the market in the manner people previously assumed. Turnover, as far as I can see, on most big races is pretty much the same as before and …
Betfair implement new turnover charge
News from Australia this morning that Betfair are to implement a turnover charge on customers, full details: –
https://betfair.com.au/turnovercharge/
In case you were not aware, a high court ruling this year in Australia has switched the law from a gross profits tax to a turnover based revenue fee for racing. This doesn’t affect the well established and politically well oiledl, but slightly ancient and backward thinking, incumbents in Australia; but does have a significant impact on the new entrants like …
Black Caviar to romp home carrying the Aussie flag?
Ascot trundles on this week and all is well.
I feel a bit like I am going through the motions this year. Yes it’s nice to get a really good week, but year on year there isn’t the sort of growth in the underlying market I would like, I’ll explain more in my final ‘a question of scale’ post at some point.
It’s been a manic couple of weeks so I’m looking forward to getting a break in the near …
Betfair to continue with Racing in Australia
Reports coming in that despite their loss in the recent high profile court case, Betfair appear to have made the decision to continue to offer racing to Australian customers. Here is a copy of the correspondence.
Dear *****,
Many of you will be aware of a recent decision by the High Court of Australia which upheld Racing NSW’s decision to impose a turnover based fee on wagering operators.
Due to the additional cost to Betfair associated with this decision …
14 out of 14!
Black Caviar was out again at Caulfied this morning and made it 14 starts and 14 wins. Impressive stuff, as was the amount of money backing this undefeated horse. I slept on the sofa for the first part of the night so I could get up in the early hours to have a look at the race. Wouldn’t it be great to see a match up with Frankel? What a race that would be!
Doing a Moonee
Tuned in to the William Reid stakes this morning at Moonee Valley in Australia to check on the market and progress of the best sprinter in the world at the moment, Black Caviar. I doubt if many people outside of the UK have paid much attention to this horse but having seen the odds on it get shorter in each successive race I think it’s obvious something special is going on here.
Even at the remarkably short odds she was …
Overreaction to Aussie supremacy?
Having taken a look at the stats in preparation for the fourth Ashes Test down under, one of the things that has really stood out is that there has not been a draw at the MCG since 1997. In that period there have been 10 Australian victories and England were beaten by an innings and 99 runs the last time the sides clashed.
There’s no denying that the Baggy Greens have an excellent record at the MCG, but traders should …
Trade the Ashes to Adelaide…
Australia enter the second Ashes Test under intense pressure after being humiliated by England, who managed to turn around the first Test in Brisbane last week.
The Adelaide Oval, venue for the Second Test, was once famous for throwing up frequent draws, although there have only been three here since 1991.
If anyone’s considering laying the draw on Betfair or Betdaq (currently trading at 2.06), I wouldn’t disagree with them, despite Australia seemingly lacking a convincingly reliable wicket taker and …
Set back for Betfair Australia
Scott reports on his blog that Racing NSW has won an appeal on what is clearly a discriminatory tactic against Betfair. Unless Betfair can overturn the ruling it’s a game changer in this territory for exchanges.
https://www.sportismadeforbetting.com/2010/11/racing-nsw-wins-racefields-legislation.html
Shocking
Good volume on the Caulfield cup in Melbourne this morning, £1.25m was traded on this high profile race and it produced some nice moves. The favourite, shocking, was defeated on heavy ground by Descarado trained by the colourful Gai Waterhouse. I had no idea she was Scottish!!
Shocking is also in key contention for the Melbourne cup, maybe the ground will be more suitable there. It’s been a good session this morning and ideal practice for the Melbourne Cup.…
Well done England
Has the feel good spirit started for English sport? The English cricketers comprehensively won the 20/20 Cricket world cup on Sunday, can the English football team respond by wining their world cup? I doubt it, but it’s nice to dream, even if that is all it becomes. Well done to the Cricketers though, not only does it take skill to win something but a little psychological mettle and some luck. The English win was a definite and deserved victory though …
Connect
Connect with us on the following social media platforms.