Distant memories and forgotten dreams
Oct 17th, 2008 by Bert
Tikka Masala ran a nice race yesterday finishing fifth in a moderate maiden. She was giving weight to all, she had the worst draw and the ground would have been on the soft side for her - fifth was very decent under the circumstances. She’ll be out again soon and I’d be hopeful of a better result.
Last night was the “Pride of Racing” awards, sponsored by Betfair. I took a table - it was packed out with a lot of racing people including Princess Anne, who made a special award to Sheikh Mohammed (accepted by one of his sons). John Francome did a very good job of running the auction - I had a chat with him afterwards about Swindon Town.
Before the awards we had the Betfair AGM. All the directors sit at the front while the CEO and Chairman do a presentation and take questions afterwards. I didn’t speak at all, which is normal. Everything seemed to be fine and there was very little evidence of any recessionary slowdown, which is exactly what I’m hearing from others in the industry. In the past betting companies have been very recession resilient - Sportingbet delivered good numbers yesterday along with upbeat comment. The share prices of most gambling companies are extremely low now - I would think they are good safe haven type investments in these troubled times.
I’m having a few bets today. I think Alhaque should be coming to the top of his form now and Pete has always liked him - despite the slightly short price I’ll back him in the 1:30 at Newmarket. My nap is Forgotten Dreams at Redcar - Harry Dunlop’s often improve sharply for their first run and this nicely bred filly ought to be ready to do herself justice today. I may back Distant Memories at Redcar - this is an expensive horse by Tom Tate standards and he often sends them in first time up. Ordination looks interesting in the last at Newmarket.
4 Responses to “Distant memories and forgotten dreams”
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I disagree about the Gambling Industry being recession proof.
You would have to assume that punters are stupid.
When they have a choice of paying their mortgage, paying their energy bills, or buying their children food, they would have to be very stupid or selfish, to risk what cash they have left on the chance of picking up a yankee.
from the Sydney Morning Herald, an interview with a lady of the night re the recession..
“I think that during times of economic downturn, you often find that it’s alcohol, tobacco, gambling and the sex industry which are the blue-chip industries,” said the woman, who gave her name as Catherine.
“Because I think men are unwilling to give up their alcohol, their sex, their gambling and their smoking.”
Definitely dont give them up but definitely do scale back on them. Fellhas previously betting in £50’s now betting £10’s and £20’s
I left the RAF after 3 years service and went to work as a trainee settler in the credit office of Arthur Horton in Sydenham. I stayed in the bookie game until 1972 and during those 16 years there were some periods of austerity but the punters kept on punting. Most of our business in the 1950s was 60% credit accounts and 40% street/factory/pub “runners” (cash) stuff. and and then betting offices came along.
I think Andrew might be right today that betting keeps going during a recession. Perhaps because inveterate punters always live in hope of a good tickle, and bad times seem to boost their hopes of a good win to help out the family finances.
I left the industry in 1972 whilst managing a chain of 12 shops in the Streatham, Brixton and Bermondsey areas. Frankly, I got really peed off with seeing a working bloke come into the shop on a Friday afternoon, open a wage packet and start chucking his hard-earned cash over the counter - and usually losing it. I used to wonder what it would be like for his wife that evening when he got home with his depleted wage packet? I simply did not want to be part of the game any more.
I still keep my interest in horseracing and usually have a small bet when it is on TV - but it is just for fun. That’s what betting should ALWAYS be: a little fun flutter. I cannot understand those poor fools who pay lots of money to “pro tipsters” and follow their “advice” come hell or high water. They are the real MUGS of the racing game. Still, it takes all sorts….