Following on from the Ratings Based Handicapping Update provided to the industry on 20 August 2019, Harness Racing Australia (HRA) can now provide additional statistical data to cover the first three months of operation since ratings were implementation on 1 July 2019.
The data comparatives through to the end of September 2019 continue to show a material shift towards more competitive racing with each of the KPI categories below continuing to show improvement.
The data in the table below, which excludes Western Australia, shows that 2,898 races were conducted in July through September 2019 compared to 2,874 for the same period last year.
The most pleasing aspect of the data is the dramatic decrease of prohibitive short price favourites – defined as those in the up to (≤) $1.30 and up to (≤) $1.60 ranges.
Some of these statistics are simply staggering, particularly as they play such a vital role to attract, motivate and drive wagering yield growth in our sport:
- The number of races with a favourite ≤ $1.30 has decreased by 93 in total - representing a 27% improvement in the 3-month year on year period.
- There have been 173 less races that had the starting price of the favourite of ≥ $1.60 or more - representing a 22% improvement in the 3-month year on year period.
- The percentage of favourites at ≤ $1.90 or more continues these positive trends, with 209 less races starting with horses in this price range in 2019 than did in 2018.
- The percentage of short price favorite winners have also substantially decreased, with the number of races with a ≤ $1.30 favorite dropping from 9.29% to just 6.87% - which is a 26% improvement on the same period last year.
- The percentage of winners at ≤ $1.60 has decreased by 21%, whilst those ≤ $1.90 has decreased by 16% in comparison.
Again, these improvements on the percentage of winners at short price levels is important whilst noting that strong feedback from wagering service providers indicates that wagering growth and yield improvements are both driven off the back of reduced odds-on favourites and winners up to approximately $1.80.
It is hoped that an analysis of wagering and yield data will be available for the next update.
The Ratings Review Team (RRT), comprising of each of the states handicappers, continue to meet regularly with the purpose of analysing, considering feedback and refining the system. At their last meeting of 4 October, no changes were made, however the RRT continue a close watching brief while also preparing to conduct a comprehensive 6-month review of all aspects of the system – covering the period 1 July to 31 December – in early February 2020.
Industry consultation will be invited as part of this review and future updates of this nature will contain details on how to participate in this.
As always, the RRT is committed to analysing the RBHS regularly as it strives to increase the competitiveness of harness racing. The RRT welcome feedback in relation to the system to rbhs@hra.com.au or if you query is in relation to programming, to your respective state controlling body.
