SBC News Irish Racing to trial new Starting Price

Irish Racing to trial new Starting Price

The Board of Horse Racing Ireland (HRI) has approved a change in how the Starting Price on Irish racing will be determined.

Beginning at the Kilbeggan fixture next Monday, June 13, a combination of off-course prices and on-course bookmaker prices will be used to produce Irish horseracing’s new Starting Price index .

HRI outlined that on-course bookmakers will make up between 10% and 12.5% of the overall sample, following a recommendation from HRI’s Betting Committee. 

Submissions were sought from the INPBA (representing on-course bookmakers in Ireland), the NIOCBA (representing on-course bookmakers in Northern Ireland) and the Irish Bookmakers Association (representing the off-course industry) and these submissions were considered in reaching the recommendation.

Pat Brennan, HRI’s Racing Services Manager, said: “This is a significant change to the construction of the Starting Price being returned on Irish racing and is the culmination of a review process which was underway prior to the Covid-19 pandemic.”

“The HRI Betting Committee has sought to modernise the SP in a way which fairly reflects how today’s betting markets operate by extending the sample to include a greater proportion of the off-course market and at the same time ensuring the process can stand up to the highest levels of scrutiny. Recent discussions with the UK SPRC have also confirmed their desire to implement such a system once the technology required to incorporate the on-course price becomes available in the UK.

“It is vital that any change in the process has the full support and confidence of all stakeholders, and I welcome the return of the on-course market into this new methodology which ensures accuracy, full transparency, and complete integrity of the Starting Price. This will benefit the industry overall.”

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