The Good Neighbour Policy is an agreement among horse racing bodies that no signatory shall provide betting on horse racing to residents of another signatory's jurisdiction without its permission, nor solicit, market nor advertise betting without prior authorisation from that other signatory.
Horse racing is an equestrian performance sport, typically involving two or more horses ridden by jockeys over a set distance for competition. It is one of the most ancient of all sports, as its basic premise – to identify which of two or more horses is the fastest over a set course or distance – has been unchanged since at least classical antiquity.
The signatories to the agreement stated that its purpose was to show their unity in cracking down on illegal, unlicensed or unauthorised offshore bookmakers on horse racing, in order to protect the revenue of the signatories.
A bookmaker, bookie, or turf accountant is an organization or a person that accepts and pays off bets on sporting and other events at agreed-upon odds.
It is viewed by some[who?] as documenting an international cartel to defend the signatories from competition from commercial bookmakers and bet exchanges so as to maintain higher profits for themselves.
A cartel is a group of apparently independent producers whose goal is to increase their collective profits by means of price fixing, limiting supply, or other restrictive practices. Cartels typically control selling prices, but some are organized to control the prices of purchased inputs. Antitrust laws attempt to deter or forbid cartels. A single entity that holds a monopoly by this definition cannot be a cartel, though it may be guilty of abusing said monopoly in other ways. Cartels usually occur in oligopolies, where there are a small number of sellers and usually involve homogeneous products.
Competition arises whenever at least two parties strive for a goal which cannot be shared: where one's gain is the other's loss.
In economics, profit in the accounting sense of the excess of revenue over cost is the sum of two components: normal profit and economic profit. Normal profit is the profit that is necessary to just cover the opportunity costs of the owner-manager or of the firm's investors. In the absence of this profit, these parties would withdraw their time and funds from the firm and use them to better advantage elsewhere. In contrast, economic profit, sometimes called excess profit, is profit in excess of what is required to cover the opportunity costs.
The Hong Kong Jockey Club is one of the oldest institutions in Hong Kong, having been founded in 1884. In 1959, it was granted a Royal Charter and renamed The Royal Hong Kong Jockey Club (英皇御准香港賽馬會). The institution reverted to its original name in 1996 due to the transfer of sovereignty of Hong Kong in 1997. Membership of the club is by nomination and election.
The Japan Racing Association is a public company established to operate Chūō Keiba and to manage racecourses, betting facilities, and horse-training facilities.
The Australian Racing Board, established in 1998, is the peak national administration body for Thoroughbred racing in Australia. The statutory bodies for racing in each State or Territory, known as the Principal Racing Authorities, set up the Australian Racing Board by consensual agreement. This consensus by the States is achieved by agreeing to abide by and to enforce the Australian Rules of Racing which are within the authority of the ARB.
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Thoroughbred horse racing is an important spectator sport in Australia, and gambling on horse races is a very popular pastime with A$14.3 billion wagered in 2009/10 with bookmakers and the Totalisator Agency Board (TAB). The two forms of Thoroughbred horseracing in Australia are flat racing, and races over fences or hurdles in Victoria and South Australia. Thoroughbred racing is the third most attended spectator sport in Australia, behind Australian rules football and rugby league, with almost two million admissions to 360 registered racecourses throughout Australia in 2009/10. Horseracing commenced soon after European settlement, and is now well-appointed with automatic totalizators, starting gates and photo finish cameras on nearly all Australian racecourses.
The Asian Racing Federation is an international federation of horse racing governing bodies in Asia, most of which are government granted monopolies.
The Happy Valley Racecourse is one of the two racecourses for horse racing and is a tourist attraction in Hong Kong. It is located in Happy Valley on Hong Kong Island, surrounded by Wong Nai Chung Road and Morrison Hill Road.
Sha Tin Racecourse is one of the two racecourses for horse racing in Hong Kong. It is located in Sha Tin in the New Territories. It is managed by Hong Kong Jockey Club.
Sports in Hong Kong are a significant part of its culture. Due to British influence going as far back as the late 19th century, Hong Kong had an earlier introduction to Western athletics compared to other Asia regions. Horse racing has most spectators, while football, basketball, swimming, badminton, table tennis, cycling and running have the most participants. Golf is an increasingly popular sport, despite the relatively few number of courses in the city. In 2009, Hong Kong successfully organised the V East Asian Games and it was the biggest sporting event ever held in the territory. Other major international sporting events including the Equestrian at the 2008 Summer Olympics, the Hong Kong Open Golf Championship, the Hong Kong Sevens, Hong Kong Marathon, AFC Asian Cup, EAFF East Asian Cup, Hong Kong Badminton Open, Hong Kong Tennis Classic, Premier League Asia Trophy, and Lunar New Year Cup. Hong Kong athletes have improved in worldwide rankings. As of 2010, there are 32 Hong Kong athletes from seven sports ranking in world's Top 20, 29 athletes in six sports in Asia top 10 ranking. Moreover, Hong Kong is equally impressive performance of athletes with disabilities in 2009, having won four world championships and two Asian Champions.
Hong Kong International Races (香港國際賽事) is an event consisting of the four most prestigious horse races in Hong Kong. It is hosted by the Hong Kong Jockey Club.
The Hong Kong Cup is a Group 1 flat horse race in Hong Kong which is open to thoroughbreds aged three years or older. It is run over a distance of 2000 metres at Sha Tin, and it is scheduled to take place each year in mid December.
The Singapore Turf Club was founded in 1842 as the Singapore Sporting Club to operate the Serangoon Road Race Course at Farrer Park Field. It is today the only horse-racing club in Singapore and is part of the Malayan Racing Association (MRA), which also regulates the three Turf Clubs in Malaysia, the Selangor Turf Club, Penang Turf Club and Perak Turf Club. The Singapore Turf Club is the only authorised operator of horse racing, and totalisator services in Singapore. It is the agent and proprietary club of the Tote Board, Singapore, who manages and directs its donation of surplus funds for charitable purposes. The first race was held on 23 February 1843 when prize money on offer was only $150. In 1924, the Club changed its name to the Singapore Turf Club. This was done to reflect its role as a horse racing club more accurately. The Club moved to Bukit Timah in 1933 before relocating to its present location at the Singapore Racecourse at Kranji in 1999. The racecourse is adjacent to Kranji MRT Station.
The Queen Elizabeth II Cup is a Group One Thoroughbred horse race at Sha Tin Racecourse in the New Territories, Hong Kong. Established in 1975 by the Royal Hong Kong Jockey Club, it is run annually in April at a distance of 2,000 metres on turf. Prior to 1997 it was run at 2,200 metres. Sponsored by Swiss watchmaker Audemars Piguet since 1999, it currently offers a purse of HK$20 million (US$2.6 million)since 2014/15.
The Champions Mile is a Group 1 flat horse race in Hong Kong for three-year-old and above thoroughbreds run over a distance of 1,600 metres on the turf at Sha Tin Racecourse with the total purse of HK$14m in 2014/15, approximately US$1.8m.
Jockey Challenge is a breakthrough concept in Hong Kong horse racing using a Fixed Odds bet type. Once a bet is placed, the dividend is calculated according to the odds fixed at the time the bet is accepted and will not be affected by any subsequent change in odds. The player has to select correctly the jockey with the most Jockey Challenge points at a race meeting.
The Stewards' Cup is a Hong Kong Thoroughbred horse race held annually during the latter part of January at Sha Tin Racecourse. A Group One race that offers a purse of HK$10,000,000, it is run on turf over a distance of 1600 meters and is open to horses three years of age and older. The first leg of the Hong Kong Triple Crown, it is followed by the Hong Kong Gold Cup in February. and the Hong Kong Champions & Chater Cup in late May/early June.
The Gambling Ordinance was enacted in 1977 to regulate gambling in Hong Kong. People are allowed gamble for leisure and entertainment within these regulations at a limited number of authorized outlets. Social gambling is still allowed.
Brett Prebble is a leading Australian jockey, currently based at the Hong Kong Jockey Club in Hong Kong.
Longitude LLC is the inventor and distributor of the Longitude Enhanced Pari-Mutuel System™, a pool betting technology platform that uses advanced mathematical principles and cutting-edge computing techniques to facilitate innovation.
Horseracing in the Philippines began as a recreational activity in 1867. Its history is divided into three major time periods based on the breed of horses raced, in conjunction with the three significant eras of Philippine history. According to the type of horses used, the periods are the Philippine-pony era (1867–1898), the Arabian-horse era (1898–1930), and the Thoroughbred era (1935–present).
Horse racing in India is over 200 years old. The first racecourse in the country was set up in Madras in 1777. Today, India has a very well established racing and breeding industry, and the sport is conducted on nine racetracks by six racing authorities.
Betting on horse racing or horse betting commonly occurs at many horse races. Gamblers can stake money on the final placement of the horses taking part in a race. Gambling on horses is, however, prohibited at some racetracks; one such is Springdale Race Course, home of the nationally renowned Toronto-Dominion Bank Carolina Cup and Colonial Cup Steeplechase in Camden, South Carolina, where, because of a law passed in 1951, betting is illegal.
