The TAB is impacted as much as the corporates which is why they are closing down their rewards system.
The problem we have is this year for the first time racing bodies funding will reduce because turnover decreased.
My suspicion is their reaction will be to increase the fees to bookies to make up for this shortfall. The bookies will then pass this impost in to the punter in the form of worse prices and turnover will further decrease because of less recycling.
All of this is exasperated in NSW as a result of money wasted on the back of providing these stupid high prize money races so millionaires like Nev Morgan and battlers such as the blue team and Waller slot holders can get more money.
Can you tell me how The Everest is bad for turnover as you imply?
How much did Ladbrokes hold on The Everest this year? How much in the first year? How much 10 years ago - oh hang on they didn't have it then.
There has been a quantum increase in prizemoney on the ground in both NSW and Victoria with a lot more going back to the battling trainer with initiatives like paying down to 10th place. The Highways. Country Championship. The Kosciusko. It doesn't just go to the millionaires as you imply. Cathleen Rode who won the Country Championship a few years back is no millionaire. What you say is parroting a false narrative.
In fact there has never been a better time (statistically) in our history to be a racehorse owner - at least in NSW and Victoria.
Australia is far more egalitarian than any other country. Of course there are rich racehorse owners - like Lloyd Williams, Godolphin. It has always been like that. What makes you think it was any different in the past? You would never have had owners like the owners of Redzel in the past.
You speak of margins for the bookmaker.
From where I sit the turnover in racing is dropping because the period of flagrant over promotion performed by Corporates in order to get business when they first entered the Australian market has come to end.
William Hill, Luxbet, Tom Waterhouse, bookmaker.com, Crown and a stack of others. All gone.
There was a golden period where it was pretty hard to lose as a punter. I can remember William Hill paying you a bonus bet if your horse finished in the first half of the field!! How can you possibly lose?
And now they are broke. Wonder how that happened?
Of course turnover was going to plateau. And then when the dust settled and we are left with two main Corproates plus TAB (probably still one to fall off the perch yet) the promotions are wound down. Subsequently the turnover falls.
Then along comes the South Australian government with the brainstorm of a Point Of Consumption tax which other states follow suit. That exacerbates the problem.
But how has that got anything to do with The Everest, The Hunter or any other race?
This madness brought in by Corporate bookmakers was always going to end in tears. Don't you dare go blaming someone else!!