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General Assembly &

40th International Conference

World Economic Report of
Horseracing Industry

Slide 3

ARF 2005 Statistics

Scope for Govt Decisions
to Affect Racing

"“"

"“When you can
measure..."

Sample of Govt. Decisions
Re ARF Members

Slide 9

"“If you want to..."

Slide 11

"“You can’t fatten
the..."

Victorian Spring Racing
Carnival

"“Statistics are
like a..."

General
Assembly &

40th
International Conference

International Federation of Horseracing Authorities

Monday
October 2, 2006

End of slide show, click to exit.

General Assembly &

40th International Conference

International Federation of
Horseracing Authorities

Monday October 2, 2006

World Economic Report of
Horseracing Industry

Andrew Harding

Slide 3

ARF 2005 Statistics

Scope for Govt Decisions
to Affect Racing

Licensing of wagering
operators:

Is wagering permitted?

Pari-mutuel only or a diverse
market: tote + bookmakers

Is wagering permitted
off-course?

Monopoly licence or competitive
market?

Licensing of other gambling
forms:

Is wagering on racing the sole
permitted form of gambling?

What is Racing’s relationship
with other forms of gambling - Racinos

Betting exchanges

Taxation of wagering

Gross profits or turnover based

Level of taxation

Intellectual property rights

Quarantine protocols and the
international movement of horses

Emergency animal disease
responses

Taxation of breeding

Taxation of prize money

Taxation status of race clubs

Tenure of race courses

Advertising restrictions

Statutory powers to regulate
racing

Research and development:

Tax breaks

Government funded R&D
programs

"“"

“I must confess that when I
look at these figures for my own and other countries I am bemused by those
who denigrate racing and say they want to have nothing to do with it – that
somehow it is against “the public interest”. The simple truth is that in all
countries where racing is substantially established, every citizen benefits
in a continuing sense from public expenditures made possible from the revenue
generated by the racing industry.”

(Hon R.J.L. Hawke AC former
Prime Minister of Australia address 26th ARC January 1999.)

"“When you can
measure..."

“When you can measure what you
are speaking about and express it in numbers, you know something about it:
but when you cannot measure it, when you cannot express it in numbers your
knowledge is of the meagre and unsatisfactory kind.”

(Lord Kelvin, British
Physicist).

Sample of Govt. Decisions
Re ARF Members

Hong Kong

July 2006 Legislative Council
endorses

Betting Duty (Amendment) Bill
2006. Duty now based on gross profits rather than turnover

Singapore

July 2005 Singapore Government
amends taxation of

wagering to gross profits basis
enabling STC to:

lower takeout rates for win and
place pools from 18% to 10% for approximately 50% of races

rebates of up to 5% for large
win and place bets.

New Zealand

May 2006 NZ Government delivers
taxation changes benefiting NZ RI by $32 million p.a

Australia

Federal Govt amends Interactive
Gambling Ban to permit ARI access to interactive waging. ARI benefit >$15m
pa.

Slide 9

"“If you want to..."

“If you want to inspire
confidence, give plenty of statistics. It does not matter that they should be
accurate, or even intelligible, as long as there is enough of them”

(Lewis Carroll)

Slide 11

"“You can’t fatten
the..."

“You can’t fatten the pig the
day you go to the market.”

Victorian Spring Racing
Carnival

In Spring Racing Carnival is
the biggest annual event in Australia.

In 2005, the Carnival’s
economic benefit was estimated to be $524.3 million.

Attendance was more than
730,000 including 101,700 international and interstate visitations.

The highest attended day was
the Victoria Derby day attracting a crowd of 115,600. Two other days
attracted over 100,000 attendees, Melbourne Cup day (106,000) and Victorian
Racing Club (VRC) Oaks day (100,000).

Fashion spending on the
Carnival totals $20 million and involves the purchase of over 300,00 items.
$12 million is spent on food & beverage and $9 million on accommodation.

The estimated viewing audience
of the Melbourne Cup is 700 million – many watching via the internet.

Source: IER Report
Commissioned by VRC

"“Statistics are
like a..."

“Statistics are like a bikini.
What they reveal

is suggestive, but what they
conceal is vital”

“I asked a statistician for her phone
number… and she gave me an estimate.”                               (Woody Allen)

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World
Economic Report of

Horseracing
Industry

Andrew Harding

ARF 2005
Statistics