Recession, What Recession? Ask 107,280 Racegoers

The Age

Wednesday November 5, 2008

Ben Doherty, with Jewel Topsfield

THE punters came in, and for, a Mad Rush. The horse itself did not. But it didn't stop Australians betting about half a billion dollars yesterday.

The unfashionable, unfavoured Viewed, the longest-priced winner in 36 years, took home the Melbourne Cup, paying $46.50 on the tote, $41 with the bookmakers.

Punters learned again the lesson of writing off the chances of one James Bartholomew Cummings, winner now of 12 of these precious trophies.

One old adage suggests two things are recession-proof: beer and punting. Flemington yesterday was a compelling argument in its favour.

Serious punters, spring carnival cowboys and once-a-year flutterers were all out in force, many endeavouring to combine a new-found love of horse flesh with a longer-standing affection for amber fluid.

In Victoria TabCorp held some $36.5 million of punters' money on the cup - almost $4million more than last year - and $64.8 million on the day. Another $51.2 million was held by TabCorp in NSW on the cup. The West Australian TAB took $14.3 million and UNiTAB in Queensland, South Australian and the Northern Territory held $37.2 million on the cup. That's virtually $150million - which could approach $200million once online and on-course betting is added.

In the Northern Territory, Sportingbet Australia turned over more than $4 million on the cup and $15million to $16million across the whole day. "Traditionally 30 to 35% of our turnover comes from Victoria," CEO Michael Sullivan said. Brett Schraa, the racing manager of Darwin-based Sportsbet, said it turned over just under $2.8 million on the cup and about $12 million over the day. "We took 230,000 bets and 40 to 50% of our clients were from Victoria," he said.

Add up the final figures and Australians bet about half a billion on the day.

Tabcorp, however, believes its slice of the pie is diminishing, especially now that advertising restriction on interstate bookmakers have been eased. It is pushing the State Government for tax concessions.

As the clock ticked down to race time, action in the Flemington betting ring grew frantic. A crush grew around the stands as sun-kissed punters jostled for the chance to swap bank-notes for slips of white paper and a promise.

"$7.50 Septimus! Rated the best stayer in Europe," was the tantalising offer from one bagswinger.

With two minutes to jump, the betting ring drained. Inside of a minute to go, "live" punters were thin on the ground, but now the phones began to ring in earnest.

These are the calls bookmakers are sometimes reluctant to take. They come from serious punters making serious wagers. A quiet few words, a nod of the head and it's in the ledger.

But the message coming down the line was much the same. Money for Mad Rush. Support for Septimus. Very little on a horse called Viewed.

After a tense wait on a photo finish, Viewed was announced the winner, at the most generous price since Piping Lane won at the same odds in 1972.

It made the bookmakers' day. Save for perhaps only one.

Graeme Sampieri, the longest-serving rails bookie at Flemington, 44 years in the trade, did not have his happiest cup. "The connections of Viewed bet with me. They were into me for about $4000 each way, so it was not a good cup for me, not a good result at all.

"I'd hardly laid the horse that came second (Bauer) at all, so I was hoping that would win, and I thought it would 50 metres out. But that's racing: some days you win, some days you lose."

And if you are Bart Cummings, you win on the first Tuesday in November more often than others. -- With JEWEL TOPSFIELD

BY THE NUMBERS

107,280 racegoers flocked to Flemington racecourse yesterday.

$51.2 million wagered on the Melbourne Cup at NSW Tabcorp outlets.

$36.5 million wagered on the Melbourne Cup at Victorian Tabcorp outlets.

12 Viewed gave trainer Bart Cummings a record twelfth Melbourne Cup winner.

250 The Cup win was Cummings' 250th group one victory.

4Viewed's win was the fourth Cup win for owner Dato Tan Nin Chang.

53 The weight carried by Viewed.

$46.50 The amount Viewed paid for a win.

22horses contested the Melbourne Cup after Yellowstone and Zarita were scratched.

3 people arrested for being drunk

6 booze buses in the Flemington area

© 2008 The Age

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