William Hill, one of the most famous names in gambling and ever-present in British betting rings since 1934, could vanish from racecourse rings within weeks if the firm concludes a deal to sell its on-course pitches.
Agreement is understood to be close on a sale to a rival racecourse bookie, a move which could bring into question the integrity of starting prices, which are derived from the on-course market.
William Hill, who died in 1971, was a prominent racecourse bookmaker for three decades from the mid-1930s, before opening his first betting shop in the mid-1960s after off-course cash betting was legalised. The firm that still bears his name has changed hands several times since but remains a major player in the gambling industry both on the high street and online.
The strength of the on-course market, however, has declined sharply in recent years, due to competition from online betting in general and the Betfair betting exchange in particular.
If confirmed, William Hill’s sale of its on-course pitches, for a price believed to be around £2.5m, will be seen as another indication of the racecourse ring’s increasing irrelevance in what is now a global market.
The move will also raise concerns about the long-term future of the starting price (SP) system, which is based on data collected from racecourse betting rings.
The SP – defined as the market price available to “good money” – dates back to the 19th century but still has an important role to play in settling bets on British racing, both in the retail sector and online. Cash bets at SP are commonplace in high-street shops, while most online bookies offer “Best Odds Guaranteed”, which means that punters who take a price are paid at SP if the odds are better.
At major meetings, such as the Cheltenham Festival, around 200 bookmakers will be present at the course to take cash bets from racegoers. As a result the market is strong and the SPs are respected by punters as offering a fair reflection of each horse’s chance.
Windsor 1.40 John Joiner 2.10 Swiss Pride 2.40 Big Brave Bob 3.10 Ace Ventura 3.40 Glorious Poet 4.10 Crownthorpe 4.40 Gerry The Glover 5.10 Party Royal
Pontefract 2.00 Golden Parade 2.30 Shallow Hal 3.00 Wajaaha 3.30 Manuela De Vega 4.00 Imaginative 4.30 Lady Annalee 5.00 Royal Flag 5.30 Musharrif
Plumpton 2.20 Kapdad 2.50 King Cnut 3.20 Kristal Hart 3.50 Call To Order (nb) 4.20 Exitas 4.50 River Of Intrigue 5.20 Inspireus
Kempton Park 5.40 Hurricane Alert 6.10 Blue Mountain 6.40 Imperial Charm 7.10 Bint Soghaan 7.40 Cobweb Catcher 8.10 Silver River 8.40 Panassian (nap) 9.10 Olaudah
Tips by Greg Wood
At many minor tracks, however, there may be no more than half a dozen bookies in the ring, while William Hill will often be the only major name with a pitch. If, as seems likely, William Hill departs the ring, questions about the credibility and long-term future of the SP system will be increasingly difficult to avoid.
