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Back to listsOn Why Online Betting Is The Only Route
By Ranjan | 28-Apr-2020Consider Hong Kong Races-the Gold Standard of Horseracing
On a typical day, their turnover
(converted to Rs and Crores for our convenience)
is Rs 100 Crores Per Race.
The Club pays 10% of the Turnover to the Govt as Betting Duty and retain 4% of the take as their commision.
They usually have 800 races per year so the annual take for the govt works out to Rs 8000 Crores.
The Club's annual revenue works out to Rs 3200 Crores.
These are figures that the Indian Race Clubs and the revenue dept of the Indian Govt. can, presently, only dream of.
But going online can make the dream a reality.
Hong Kong's population is around 0.8 crores
and India's 125 crores.
Going online means that expenses of the club per bet go down.
Furthermore, as the popularity of the online services increase, illegal betting would go down.
It is the job of the racing authorities to convince the Govt. of India of this possibility.
Otherwise, post Covid, the Racing Industry would be "put to sleep".