THE 150/1 starting price of Irish Grand National winner Freewheelin Dylan has added strength to the case for allowing the off-course market to continue having a major influence on starting prices, even when bookmakers return to the track.

In the previous 10 runnings of the Irish National, no runner started at more than 66/1. Last Monday, four horses were returned at 80/1 or more. According to research carried out by the Racing Post, almost 15% of all runners in Irish racing are now returned at 100/1 or more. That is nearly three times more than in 2019.

The combined starting prices for this year’s Irish National came to 135%, a significantly better result for punters than in 2019 (152%) or in 2018 (149%), when prices were determined purely by available on-course prices.

Pat Brennan, Racing Services Manager with Horse Racing Ireland, said he was very pleased with the new system of calculating starting prices, which involves comparing live feeds from the major off-course betting companies. “From HRI’s point of view, our main concerns are integrity and transparency. To my mind there is no doubt that we are doing better than ever on those fronts.

“There’s no doubt the current system for calculating the SP has had its detractors but I believe every week that passes more than highlights its suitability, fairness and accuracy.

“I think it’s clear that prices on the horses at the lower end of the market have been pushed out since we moved to the off-course bookmakers and this maybe highlights the unambitious pricing employed by the majority of on-course bookmakers. Although bigger prices on runners with little-or-no chance has improved the overround, it has also more accurately reflected their chance.”

New contract

Explaining the background to how starting prices (SP) are calculated, Brennan said: “HRI granted the SP licence to SIS and that contract runs until December 2023. However, when racing went behind closed doors, a short-term licence was granted to the Press Association to return SPs on Irish racing, as they had the facility to take feeds from the largest bookmakers.

“That contract was extended last December to June 2021 and, given that it is unlikely bookmakers will return to the track in great numbers this year, it is likely the contract will be rolled over again until the end of the year. No great consideration has been given to what might happen in 2022 but we look like staying the way we are.

“The on-course betting ring is important and their prices should be reflected in the calculation of the SP. But, even before Covid struck, I had seen a report which said that close to 95% of betting turnover takes place off-course, so it is important we take that into account.”

In Britain last week the Starting Price Regulatory Commission said that starting prices in British races will continue to be determined using mainly off-course odds, even when on-course bookmakers return to the track.

Brennan added: “I have been in discussions with my UK counterparts and there is a desire there to keep both countries aligned in how they return the SP. So I would imagine that, even when the bookies do return, we will maintain the current system.”

The trend of more winners being returned at triple-figure prices continued at Gowran Park on Wednesday when Vera Verto won a flat maiden at 125/1.