Profits Lost To Clubs Through Scratchings

Press, Volume XC, Issue 27396, 8 July 1954, Page 4

Profits Lost To Clubs Through Scratchings

TROTTING

Assuming that off-course investors, having prior knowledge of scratchings, selected another horse for their investments, one could say that up to £84,000 in distributable profits had been lost to clubs during the year ended July 31. 1953. said the president <Mr A. L. Matson) is his address to the annual meeting of the New Zea-, land Trotting Conference yesterday, i During the period mentioned; £1.125.314 had been refunded to in-1 vestors on scratched horses, said Mr | Matson. From August 1. 1953, until May 15 of this year, scratchings re-! fundable bv the Totalisator Agency Board amounted to £975.824. and from those figures it appeared that the previous year’s total would be exceeded, i This problem was a great one to clt bs. which should make every endeavour to notify scratchings imine diately they were known, said Mr

Discussing the activities of the Totalisator Agency Board, Mr Matson said that figures during the current season did not support the contention that off-course betting had affected ?P/S ourse - turnovers. From August 1, 1953, until May 15. 1954, on-course turnover at trotting meetings amounted to £6.173.354, compared with £5,933,716 during a similar period in th«- previous season.

During the same period this season, ©ff-course investments at trotting meetings amounted to £3,014,575, com-

pared with £2,079,060 in the previous season—an increase of £925,516, or 44.1 per cent, he said. The reason for the increase in off-course betting had been the opening of more branches and agencies, and the gradual elimination of bookmakers.

Before the establishment of the board, said Mr Matson, the Government had been a heavy loser because bookmakers had not paid totalisator or dividend taxation. For the year ending on July 31. 1954, the board would pay to the Government about £1.759,060 in taxation. This was in addition to more than £2.090.000 paid by racing and trotting clubs on their on-course turnover.

[ The distribution of the board’s j profits after the 1952-53 season had been the subject of appreciative comment by clubs, said Mr Matson. He I thought that the reaction by clubs to the distribution for the current year would be no less favourable. It could be said that some clubs would have found it impossible to carry on had it not been for the return from the board, said Mr Matson. At last clubs could see prospects of rehabilitating their courses. Mr Matson also said that continued interest was being displayed in the board’s activities by overseas Governments and racing and trotting organisations. Inquiries had been received from most Australian States, Ceylon, Singapore. Uruguay, the United States, and South Africa.