THE conclusion of various major festivals and the release of Horse Racing Ireland’s half yearly and annual figures tends to lead to plenty of examination and consideration of the state of the on-course bookmaking market and the challenges that it faces.

Thus the cumulative totals from Leopardstown’s Christmas Festival were keenly awaited and they revealed that the bookmakers turnover for the four days came in just over €3.25 million as against €3.41 million which was taken in 12 months previously.

This wasn’t a major drop and it compared well with the 2015 figure while finishing down on the €3.7 million which was taken in during the 2016 meeting.

However, a striking return from last week’s activities and one that should provoke considerable concern and disquiet was the cumulative turnover for the Tote which dropped by just over €1 million to €1.6 million.

What makes this figure particularly striking is that it does not come on the back of years of steady decline but rather it represents a step off the edge of a cliff.

By way of illustration, the Tote handle for the 2017 fixture was just over €2.6 million, in 2016 it was €2.44 million and in 2015 it was €2.33 million.

While highlighting signs of progression in the period of 2015-17 these figures also point to a level of stability which is what makes last week’s returns so concerning.

PICK 6 POOL

Admittedly the 2017 figures were bolstered by a bumper Pick 6 pool which swelled from around €60,000 on Stephen’s Day to €443,000 on the last day of the meeting.

In 2018, we also had a Pick 6 that wasn’t won over the four days of Leopardstown, but after coming in at €28,000 at the close of proceedings on December 26th it progressed by just over €6,000 on day two and by the final day of the meeting the pool had swelled to just €79,000.

At this point it should be stressed that mid-December brought it with it the news that the minimum unit stake for the Pick 6 was reduced from 50 cents to 10 cents.

This in itself was a progressive step as it made a bet that had been somewhat prohibitively priced a far more accessible one and in time this decision should pay dividends.

Possibly the reduction in the unit stake for the Pick 6 played its part in a pool that has struggled to reach anything like the levels of last year but even so the various aggregates from Leopardstown are concerning.

As is the case with on-course bookmakers, the Tote is contending in a far more challenging and varied environment than would have been the case 15 years ago.

However, in contrast to on-course bookmakers, the Tote has an off-course reach by virtue of its online presence and mobile phone app.

Any profits that the Tote make go back into Irish racing thus the figures it produced from Leopardstown last week should make various sections of the industry sit up and take notice.

Such a dramatic drop in turnover can’t pass unheeded or without examination so perhaps now is the time for the authorities to take a considered view as to where the Tote is going.

On a separate note, why was the Pick 6 pool of €142,534 from Punchestown on New Year’s Eve carried forward to Naas this Sunday instead of going to either Tramore or Fairyhouse on New Year’s Day?

Sunday is the big day for Pick 6 pools, and that is perfectly understandable, but if the pool was allowed to go from the last day of Leopardstown to a Monday meeting, which Punchestown was, then why couldn’t it have moved on to Tuesday as well?

Such decisions don’t help matters.