'It was not designed to appeal to existing punters, but to new customers'
Bracket Win, the Jockey Club's new bet type that simplifies a 14-horse field down to three possibilities, experienced a massive crash at only its second meeting yesterday - one that left officials perplexed and dismayed.
Marco Cheng, acting executive director of racing, was shocked by the amount of the turnover drop, from an average of HK$1.3 million per race last Wednesday at Happy Valley to an average of HK$588,000 yesterday.
'Bracket Win was not designed to necessarily appeal to existing racing punters, but to new customers, including those already betting on soccer,' Cheng explained.
'The crossover figure [horse racing players who have tried Bracket Win] is only around 50 per cent, so the rest of the pool is basically new money.'
Cheng would not speculate on the reasons behind the crash, other than to say it was 'still very early' to make judgments.
