BAGS have opted to return almost £750,000 in streaming income back to greyhound tracks with the clear indication being that they expect most of that cash to be returned to increased prize money and welfare issues.
The three quarters of a million pound windfall cover the first six months of income and many within the industry see an annual £2m bonus as being highly achievable from the sale of these live pictures to the betting industry for their customer’s use on their phones and tablet.
The signs are that the racecourse owners have acknowledged the need to pass on the extra revenue for the benefit of the grass roots of the industry.
Clive Feltham, CEO at GRA and Chairman of the Racecourse Promoters Association commented: “This is good news for Greyhound Racing and a very welcome boost to the big investment made into greyhound welfare and the grass roots of our sport.
“We are delighted that the BAGS online service has quickly established itself and I know that all BAGS contracted racecourses will be working hard to play their part in continually improving the product and securing more and more customers. I consider that we have the best greyhound racing in the world and our aim with BAGS must be to secure the largest possible part of a massive world-wide market”
John Curran, the Kinsley promoter who is a GBGB and Fund director, said: “We’re all hugely delighted at this news, streaming is successful and growing.” He went on to say that he expected this new revenue to go into extra prizemoney and welfare projects, including finding homes for retired dogs and upgrading trainers’ kennels.
“It is important that this money is spent to benefit the grass roots, and that’s where it’s going,” he said.
Quite what that will mean to individual tracks is not absolutely clear but the payments will be made on a “per meeting” basis to all BAGS tracks and BAGS have pledged to monitor the tracks to ensure that their wishes are met.
Working to some rudimentary maths, an annual income of £2m would be split between 2,300 fixtures. If 80% went directly to prize money, it would mean around £700 per meeting additional prize money; or roughly £10 per runner.
Dominic Ford, Chairman of BAGS said: “We are delighted to bring British greyhound racing to a new audience and now is the time to get this income back into the sport. This new source of revenue from bookmakers is adding to the existing industry funding, currently estimate to be more than [£40 million] year across the industry.
“Streaming of BAGS racing has been a real success story to date and we hope to build on this, underlining our commitment to put more money back into the sport and safeguard its future.”
There are nine UK partners already live and more are expected to come online in the coming months. There are also new international markets in the pipeline which could see a further increase in funding going back to the sport.
Phill Adams, BAGS CEO said “We have been very encouraged by both the uptake from operators and the growth in volumes from the betting public. BAGS racing has found a new and important outlet online.
“The continual growth in up take is proving that greyhound racing is as popular as ever, while at the same time highlighting the new demand from younger, tech savvy online customers to bet and watch BAGS racing online.
