It has previously been recorded that an administrative oversight in the dissemination of information to the Hong Kong Jockey Club on Sun Met day led to that authority refunding some bets.
Sporting Post reader Rod Mattheyse asked the following questions of Phumelela via our comments facility on our website, www.sportingpost.co.za:
1) How does the HK “contribution” then filter into our system?
2) How does the proudly 27% up then come about?
3) How did the information debacle affect the HK “contribution”?
We approached Phumelela for a response, which is incorporated into the undermentioned statement:
The Hong Kong Jockey Club (HKJC) currently does not commingle and host pools, what we would term B pools, in their own country.
On 26 January 2019, Sun Met day, Hong Kong punters bet HK$149m on the seven races that were imported by the HKJC.
After deciding to refund a portion of the bets impacted by the jockey changes, which of course is their right, the net turnover for the day was HK$143.5m.
An increase of 27% year on year was reported, however, the actual increase net of refunds was 23%.
We also recorded that there has been a growth year on year and this average, positions us with the best in the world. We do, however, acknowledge the administrative and communication oversight on our side on the day – however, this has been dealt with to ensure that this error does not recur.
An international rights holder typically earns a royalty that is a percentage of the turnover. This percentage is governed by agreements between the HKJC and Phumelela Gaming, which are confidential.
Royalties earned, less the expenses, are split between the betting operators on a pre-determined dividend agreed on. This split still applies today.
In addition to the export of SA racing to Hong Kong, South African customers can bet on every race that is run in HK every year. The HKJC also use Phumelela International’s betting hub, Premier Gateway International based on the IOM, for international commingling.
- Phumelela Press Release
- Sun Met day pics by Chase Liebenberg Photography
