Wagering reduced 20%, primarily affected by the reshaping of the client base following the increases in race field fees in July 2014.
Maybe they are losing business because of increased competition in the corporate space? Maybe blaming a loss of business solely on Racefields is "Creative Reporting"
At the moment WH are running a promotion on a race every day where if your bet doesn't win you get a bonus bet for the full amount.
I suppose they are going to come out next year and blame "Racefields" for any reduction in profit when in fact they are spending more on promotions to try and win business from their rivals.
There seems to be a lot of players with some aggressive new businesses offering big sign up bonuses e.g. Unibet, ClubAllSports.
I'd hate to be a corporate bookie at the moment trying to make a buck. Seems inevitable that there will be some consolidation in the corporate space. In the meantime punters have never had it better.
Paddy mustn't be doing too badly if they can pay RVL $3 million to broadcast content that is available for free on racing.com. How on earth are they going to recover that outlay? Is there something dodgy going on? (maybe deserves it's own thread, or belongs in the Victorian Integrity thread).
I look forward to Paddy Power reporting that Sportsbet has seen a drop in profit due to Racefields