Racing Victoria gave Betfair a free trip on Caulfield Cup day


“If this initiative was one thing Betfair sought to implement extra usually then we’ll overview our racefields framework and think about any modifications in that context.

“Broadly talking, we might be hopeful that Betfair’s trial attracts new clients to Victorian thoroughbred racing who proceed to interact with our racing past the trial. We can be to see their learnings from it.”

Betfair boasted an 84 per cent enhance in turnover on the Caulfield Cup assembly, whereas Racing Victoria had a 100 per cent lower in charges from the betting trade, that are paid on gross revenue.

Betfair are nonetheless assessing what number of new shoppers it signed up from the promotion.

It got here solely days from Racing Victoria asserting its 2020 monetary 12 months outcomes on Monday, the place revenues are anticipated to take an enormous hit due to the COVID-19 disaster.

RVL will even should reveal what has occurred to the $80 million within the Trade Sustainability Fund, which was extra aggressively invested final 12 months earlier than the impression of COVID-19.

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“Throughout the 12 months, the consolidated entity shifted its funding mandate to balanced from conservative, with investments made in varied monetary belongings together with money, rate of interest securities, Australian and worldwide equities, property and infrastructure and different funds,” RVL’s 2019 annual report acknowledged.

“The funding mandate and asset allocations are reviewed on an annual foundation along with the governing funding coverage.”

Racing Victoria have refused to disclose the impression on the fund regardless of requests.

An identical future fund at Racing NSW of greater than $180 million is break up between the Nationwide Australia Financial institution and Commonwealth Financial institution and invested at money charges giving a constant return to the trade.

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