Aintree grand national
In the early days of the Grand National the largest bets usually took
place between wealthy rival owners. However, bookmakers who appeared
on English racecourses in the early 18th century were very much in
attendance at Aintree from the very start. The Grand national itself
soon became immensely popular with the on-course punters, although it
remained a relatively small gambling event compared with the Epsom
Derby.
aintree grand national
Today, however, tells a different story. The Grand National generates
at least six times as much betting compared to the Derby. The
National, as a single sporting event, attracts the biggest turnover
of all the major horse races, with a average of £250 million-plus.
The money gambled on the Grand National is only surpassed by the
likes on monies placed on collective events such as The World Cup,
The Cheltenham Festival, and Glorious Goodwood.
This may never have come to be if it hadn't been for the
establishment of the Horserace Totalisator Board which operated a new
pool system, more commonly known as the Tote, or in disrespectful
terms as the Nanny. This enabled punters, for the first time, to have
an alternative to betting against the bookmakers. Under the new Tote
system they could effectively bet against each other, with their bets
going into a pool, and with the odds continually fluctuating in
response to the pattern of bets laid down, resulting in the total sum
finally being shared between the successful punters.
Despite betting flourishing illegally off-course, the Grand National
only became the biggest betting event of all from 1961 onwards. This
followed on from the legalisation of off-course betting shops which
grew dramatically as a result. Betting continued to flourish despite
the reintroduction of the betting tax, in 1987, which was confined to
off-course betting shops. The betting tax was again introduced in
2001 but by this time the money spent on betting on The Grand
National in 1987 had doubled to over £100 million.
Over the years the National has suffered many set backs, not least
bomb scares and the introduction of the National Lottery, which the
organizers claim cost them £120 million a year in turnover. However,
despite these setbacks, the Grand National, in keeping with the first
ever winner, Lottery, continues to be a major money spinner, and is
growing every year.
In keeping with all other sporting events, the Grand National went
technological in 2000, when for the first time, punters were able to
place their bets via the internet. This enabled them to take
advantage of the tax-free betting available from offshore operatives.
The success of internet betting continued to grow and in 2001 it was
estimated that the overall profit made by bookies on the race was £20
million. This was mainly due to the bets being placed by punters in
over 200 countries world wide.
Three enterprising internet bookmakers offered to pay out on the
first five finishers which had never happened before. It may also
have been that due to the cancellations of so many other race
meetings of that year, due to the foot and mouth crisis, more punters
were keen to have one flutter. To top it all, for the first time
also, The Grand National was being shown live on television in
mainland China with an estimated 200 million viewers. Some viewers
were able to have a bet via the internet, but with betting still
illegal in China this cut the numbers able to bet dramatically. In
2007 the Grand National was estimated to have made between £250 and
£275 million for the day.
aintree grand national
place between wealthy rival owners. However, bookmakers who appeared
on English racecourses in the early 18th century were very much in
attendance at Aintree from the very start. The Grand national itself
soon became immensely popular with the on-course punters, although it
remained a relatively small gambling event compared with the Epsom
Derby.
aintree grand national
Today, however, tells a different story. The Grand National generates
at least six times as much betting compared to the Derby. The
National, as a single sporting event, attracts the biggest turnover
of all the major horse races, with a average of £250 million-plus.
The money gambled on the Grand National is only surpassed by the
likes on monies placed on collective events such as The World Cup,
The Cheltenham Festival, and Glorious Goodwood.
This may never have come to be if it hadn't been for the
establishment of the Horserace Totalisator Board which operated a new
pool system, more commonly known as the Tote, or in disrespectful
terms as the Nanny. This enabled punters, for the first time, to have
an alternative to betting against the bookmakers. Under the new Tote
system they could effectively bet against each other, with their bets
going into a pool, and with the odds continually fluctuating in
response to the pattern of bets laid down, resulting in the total sum
finally being shared between the successful punters.
Despite betting flourishing illegally off-course, the Grand National
only became the biggest betting event of all from 1961 onwards. This
followed on from the legalisation of off-course betting shops which
grew dramatically as a result. Betting continued to flourish despite
the reintroduction of the betting tax, in 1987, which was confined to
off-course betting shops. The betting tax was again introduced in
2001 but by this time the money spent on betting on The Grand
National in 1987 had doubled to over £100 million.
Over the years the National has suffered many set backs, not least
bomb scares and the introduction of the National Lottery, which the
organizers claim cost them £120 million a year in turnover. However,
despite these setbacks, the Grand National, in keeping with the first
ever winner, Lottery, continues to be a major money spinner, and is
growing every year.
In keeping with all other sporting events, the Grand National went
technological in 2000, when for the first time, punters were able to
place their bets via the internet. This enabled them to take
advantage of the tax-free betting available from offshore operatives.
The success of internet betting continued to grow and in 2001 it was
estimated that the overall profit made by bookies on the race was £20
million. This was mainly due to the bets being placed by punters in
over 200 countries world wide.
Three enterprising internet bookmakers offered to pay out on the
first five finishers which had never happened before. It may also
have been that due to the cancellations of so many other race
meetings of that year, due to the foot and mouth crisis, more punters
were keen to have one flutter. To top it all, for the first time
also, The Grand National was being shown live on television in
mainland China with an estimated 200 million viewers. Some viewers
were able to have a bet via the internet, but with betting still
illegal in China this cut the numbers able to bet dramatically. In
2007 the Grand National was estimated to have made between £250 and
£275 million for the day.
aintree grand national