Betting for Dummies - well for younger people

[Denn Forever]

Horse racing are looking into decimalisation of betting.  Now will see odds of 15/8, for example, becoming 1.9/1, and 6/4 becoming 1.5/1.

Will this make it more attractive to people?

Horse racing set for trial of new odds system 

The new decimal odds will be trialled to gauge the reaction of punters
Proposals to modernise British horse racing's image, including an end to traditional odds, have been unveiled.

The initiatives announced by the Racing For Change taskforce on Tuesday are aimed at boosting the popularity of the sport and attracting a wider audience.

Among them is a plan to end the use of the fractional odds system currently used by the betting industry.

A racecourse trial in the spring will see odds of 15/8, for example, becoming 1.9/1, and 6/4 becoming 1.5/1.

Among other plans are a major overhaul of fixtures to create premier racing events and clearly defined seasons.

In addition, all jockeys and trainers will be listed on racecards by their first names as well as their surnames and official racecourse announcements will be simplified.

606: DEBATE
What do you think about Racing For Change's ideas to revamp the sport? 
The Racing For Change board features representatives from all of the sport's key organisations and stakeholders.

BBC Radio 5 live's racing correspondent Cornelius Lysaght predicted the decimal-odds proposal would not be universally popular in the racing world.

"Racing is struggling to hold its own in the media, in the nation's psyche and in the betting industry, where its share of turnover leading to income is declining," he said.

"Most eye-catching is the plan to do away with traditional fractional starting prices and replace them with easier-to-understand decimal returns. Traditionalists won't like it."

http://news.bbc.co.uk/sport2/hi/other_sports/horse_racing/8440531.stm

[An Laoch]

you'd have to be mad not to welcome getting paid at 1.9/1 on a 15/8 winner

[Donnellys Hollow]

It shows you how truly stupid some people within the upper echelons of British Horse-Racing are. Racing in Britain needs new blood (as it does in Ireland btw), but do they seriously think changing trivial things like how the odds are presented is going to attract more young people in the gate?

People who are used to Betfair will have no problem adjusting but many people grew up with fractional odds and they will resist this change. "Racing for Change" will alienate existing racegoers in order to get new people in the gate - that simply doesn't make sense.

Racing simply has to market itself better if it wants to attract a younger audience. During the summer we had a once in a generation horse on the flat in Sea The Stars. I didn't see any ads in newspapers, on the telly, radio, billboards etc promoting the Irish Champion Stakes at Leopardstown and there was only an attendance of 7,000. Similarly Kauto Star and Denman are likely to meet again in the Gold Cup next March. Outside of Ch4, RUK and ATR I doubt we'll be hearing too much about this great clash. Both horses should be plastered all over the national papers and the telly from February onwards in order to promote racing.

[Denn Forever]

Not having gone to the Races, how much is it in?  Is it worth it for this price?

As far as I can see this change it to make it easier or rather more understandable for people to bet.  Don't see how it would entice more people to go to the races.

And with my conspiracy hat on, do the UK government have some stake in the tote?

[down6061689194]

I'm 17 so I count as one of the 'younger people.'  Up until recently I loved a day at the races, and through various jobs and that have picked up everything there is about odds, which has greatly helped my maths at school also.

But now I have a Dog it's a different matter entirely. I'd nearly choose dogs over the horses, for me it's not going to change whether I go or not, but without a doubt Dumbo is now one of the hottest nights out about. From what I can establish the greatest attraction is the ability to bet at the table, which is what most of the 'non race goers' opt for, but still donstairs remain the bookies for the serious punter.

I believe that the fractions are still in play on the Tote, but the people that use it don't care, they back whatever they fancy in the programme.

So I suppose what I'm Getting at is that racecourses should maybe consider having a more night at the dogs approach to lure in the newbies. Maybe have a day of 6f races as the quickfire race seems to appeal to dog goers too.

As for the Fractions Vs Decimal. Not a fan of the change myself. It dictates a stake for many punters i deal with. 9/2 they'd stake 2, 13/8 they'd stake 8, and that is the simplicity that's going to make people understand. 1.9/1, how many of you could multiply 1.9 or 1.65 by 6 in your head fast. Myself, despite being familiar with decimals for payouts, certainly had to think more for those two.
I notice ATR show exchange betting now too, if anything it's a bollix because more punters Gurn about poor prices when they've written an exchange price down.

And with my conspiracy hat on, do the UK government have some stake in the tote?

I believe they are in the process of privitisation. GB announced a will to sell in 06 and they rejected a bid from tote employees this year I think.

[Dougal]

i always use decimal odds on my PP account,dont know why,just always have.cant see it making a blind bit of difference.

[boojangles]

Donnelly has it right about the poor marketing of Horse Racing here and across the pond. Sea the Stars is likely to be the best horse any of us are likely to ever come across but outside of racing who heard of him.He should have been marketed as the Superstar animal that he is. Kauto Star V Denman is another intruiging match up which the Racing World will most likely not take advantage of.Shame.

As regards the introduction of Decimal odds,well Iv been using them on Betfair a while now so its no problem,but in terms of who it will benefit?- There will, as usual only be one winner and thats the Bookmakers.
At the moment if a horse drifts out from say 7/2 in a bookies it has to go to 4-1.
Not if these changes come in though. It will go to 3.6-1. Maybe even 3.55-1 with some of the tight feckers.
It is squeezing even more out of the already disadvantaged punter.