Turnover's up 10pc already, but are rebates the reason?
Freed of the shackles of having to decide whether to have a 'fun bet' on Bracket Win this season, punters have returned in ever increasing numbers, though the reason remains somewhat of a mystery and we can only presume it is an extended roll-on effect of the 10 per cent rebates introduced last season.
After topping the billion-dollar mark for the first time this season at the Ladies' Purse meeting last Sunday, the club has a powerful breeze in its turnover sails with the figures for the opening 10 meetings showing an increase of HK$711 million on the same point of 2006-07, or 10.3 per cent year on year.
Last year, we saw the benefit of the rebates grow as the season progressed in an impressive upward spiral during the final months of the term to bring a 6.6 per cent improvement. That trend simply appears to have carried on after the break, leaving open the temptation to speculate on just where it might go by July.
Importantly, the club is also enjoying growth in the non-rebate Triple Trio pool after returning to the previous structure of a single consolation dividend and returning more of the pool to the winning combination. In theory, at least, that tweaking should lead to more carryovers and take the TT back to the chance-of-a-lifetime bet that has made it so long the envy of jurisdictions with less-inspiring win-a-lot-for-a-little bets.
With further positive changes to the betting landscape already in progress, even the grim smog that blankets Hong Kong most days can't shut out the blue skies.