A new television deal with a US broadcaster is set to give Irish racing and punters a share of a €315 million betting pool.
Specialist TV channel, Attheraces (ATR) has signed a deal with leading North American player TVG that will see Irish racing broadcast to almost 20 million homes in the US from next December.
Under the terms of the reciprocal deal, ATR will broadcast Irish and British racing to the US, while TVG will provide coverage of action at key US tracks for ATR's platform and its subscribers in Ireland, Britain and Europe.
ATR broadcasts all races from all of the State's 27 tracks, including prestige fixtures like Punchestown and Galway festivals, the Irish Derby from the Curragh and Champion Stakes from Leopardstown. It also shows 60 per cent of all racing that takes place in the UK.
A key feature of the deal is that it will give a share of a betting pool that was last year valued at $400 million (€315 million) to both Irish punters and the industry itself. This will be made possible by the third element of the deal, the Racing Network International, which has developed software that allows Irish and British punters access to US betting pools.
US horserace betting is dominated by pools, similar to those operated by the Tote on Irish racing, as the country does not have fixed-odds bookmakers.
The transfer means that the Irish Tote, operated by State body Horse Racing Ireland, will get a share of all money wagered on Irish racing by US viewers, as their bets will be mingled with those placed by domestic and UK gamblers.
Tote Ireland takes 20 per cent of betting turnover to cover its costs and to fund racing. Last year, Tote turnover approached €49.3 million. It has been available online and over the telephone since December 2005.
ATR spokesman James Singer was yesterday unable to say how much money would transfer to Irish racing as a result of the deal, as it would depend on how attractive the sport here is to US gamblers.
However, he said that initial soundings taken by TVG indicated that the response would be positive. "They have been taking some limited UK racing for a period and they've seen a steady increase in revenues relating to that product," he said. "They've been very encouraged by it."
Irish and British racing will be broadcast in the mornings, ahead of action taking place in the US. The positive results so far suggest that timing is not an issue, Mr Singer said.
He indicated that there could be a further spin-off for race sponsors as it will expose their product to US viewers. Irish brands such as Kerrygold and Guinness all sponsor showpiece races during the Punchestown festival.
