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On Course Bookmaking Licence?

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  • 03-01-2009 10:33pm
    #1
    ThePopeOfRome
    Closed Accounts Posts: 12 ✭


    Des anyone know the procedure for gaining a bookmaking licence just for racecourses. I'd imagine it would be easier then getting a bookmaking licence for a shop, and the startup costs would be far less expensive.

    Cheers in advance.


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    #2
    punchestown
    Registered Users Posts: 660 ✭✭✭punchestown


    http://www.goracing.ie/Content/HRI/hribettingdivision.aspx?id=716

    Cost is hugely prohibitive. The main pitches on the premier tracks used to go for 6 figure sums. The lesser pitches obviously go for a lot less but tend to be of limited use due to their position. Prospects would not look good for someone starting out in the ring as turnover is down quite badly and a lot of punters that are left are either big players (very knowledgable) or small 10 and 20 euro punters.


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    #3
    okidoki987
    Registered Users Posts: 10,622 ✭✭✭✭okidoki987


    Every meeting you would have fixed costs
    Salaries
    Transport
    Food, Drink
    Levy etc etc

    There's a limited number of meetings at each track every year so you would probably be looking at approx 10 meetings a year.
    Within this you would be competiting at the "lower" end of the main pitches and so therefore would not see the "big" bets first but last which wouldn't be a good thing as other bookies rush to trade out of their positions at the price.
    To attract punters you would need to make your odds more attractive then the other "main" players and then you could be providing arb opportunities for the big punters.
    It would be a tough decision to make as you would need good t/o to pay the costs let alone have a profit after the racing.
    Best of luck with it if you decide to go ahead with it.


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