The British Horse Racing Regulatory Authority has agreed to consider a proposal from its Irish horse racing constituent, to implement a 2-day declaration system. Punters should welcome this as it aids systematic horse racing odds betting. Studying the competition matters at least as much as following your favorite horse and rider. Last minute declarations, unless for medical reasons, are unfavorable for serious punters.
Relatively long periods of declaration are also in favor of simulcast wagering, because it gives a greater opportunity for those who rent satellite networks to make returns on their investments. A UK satellite broadcaster has estimated a $50 million additional overseas market for UK horse racing if 46-hour declarations are enforced. Owners and trainers generally like to have the flexibility to enter or to withdraw from an event as late as possible, but this is never in favor of the public who participate of horse racing betting.
Some quarters suggest that a part of the additional revenues from overseas horse racing betting could be channeled in to additional prize money to win the support of owners and trainers, but accounting for this in transparent manner is tough at ground zero. How can any central authority in the UK keep tabs on all values generated from simulcast wagering from all over the globe?
The British Horse Racing Regulatory Authority certainly has its work cut out on the thorny issue of declaration periods for events under its jurisdiction, and will probably make some powerful enemies no matter which way it rolls the dice!