HRI confirms Kilbeggan to debut new Starting Price following review process
From next week, a combination of off-course prices and on-course bookmaker prices will be used to produce the Starting Price (SP) on Irish racing.
Approved by the Board of Horse Racing Ireland (HRI), and set to kick-in at the Kilbeggan fixture on Monday, on-course bookmakers will make up between 10% and 12.5% of the overall sample, following a recommendation from HRI’s Betting Committee.
“This is a significant change to the construction of the Starting Price being returned on Irish racing and is the culmination of a review process which was underway prior to the COVID-19 pandemic,” explained Pat Brennan, HRI’s Racing Services Manager.
“Submissions were sought from the INPBA (representing on-course bookmakers in Ireland), the NIOCBA (representing on-course bookmakers in Northern Ireland) and the Irish Bookmakers Association (representing the off-course industry) and these submissions were considered in reaching the recommendation.
“The HRI Betting Committee has sought to modernise the SP in a way which fairly reflects how today’s betting markets operate by extending the sample to include a greater proportion of the off-course market and at the same time ensuring the process can stand up to the highest levels of scrutiny.
“Recent discussions with the UK SPRC have also confirmed their desire to implement such a system once the technology required to incorporate the on-course price becomes available in the UK.
“It is vital that any change in the process has the full support and confidence of all stakeholders, and I welcome the return of the on-course market into this new methodology which ensures accuracy, full transparency, and complete integrity of the Starting Price. This will benefit the industry overall.”