Born from the betting ring, racecourse bookmaking is in the very DNA of our company.
It’s where my brother and I learnt our trade, the real coal face of the industry and – to mix my metaphors for a moment – a petri dish of talent for so many who’ve paved the way in gambling before us.
When our father first took to his pitches at the racetracks of the UK in the late 60’s, the betting jungle was THE market. The betting ‘shows’ were formed directly from the chalkboards and reported back to the shops and credit offices around the country via telegram and ticker tape.
It was economics in its purest form. The odds went up based on each individual bookmaker’s ‘tissue’ before being solidified by the invisible hand of demand and supply.
Fast forward 50 odd years and as you’d expect with the vastness of the industry, things have changed a lot. Supply and demand replaced by algorithms and computer models.
The racecourse is now the tail, and the days of it wagging the dog are long gone.
Gambling fuelled by the tech boom of this century continues to grow and evolve with many seeing the racecourse bookmaker as a dinosaur about to face extinction.
“The game’s gone” – is a familiar saying among my on-course brethren, especially after a quiet day on the track.
Sure, it’s not what it used to be like during the halcyon days of benefitting from on-course betting tax exemption, when there were just four channels on TV, or when the competition for the leisure pound wasn’t as great.
But we believe there’s life in the old dog yet.
Recent acquisitions of high-profile pitches such as Cheltenham, Exeter, Taunton, Goodwood, Bath and Worcester cement our intent.
As a business, and a brand strategy, it’s vital to us to remind ourselves who we are and why we exist.
It’s about letting people know that we are real bookmakers who provide an online service, who’ve lived and breathed the tangible ups and downs of life on track.
In a modern world that is dominated by the soulless betting goliaths of Bet365, Entain and the Flutter group, it’s hoped that by having a physical presence on track we can continue to go forward by looking backward and reflect a brand that still believes in the timeless purity of having a bet.
And let’s be frank about it, the racecourse seems a winnable space from a market competition point of view. It is tough as a pure on-course bookie, the high days don’t come around enough and it’s easy to stagnate.
There’s a distinct lack of innovation and we’re hoping we can move the dial here. It was our father who first introduced computerised and printed betting slip receipts to the betting rings and we’ll be trying to follow in his footsteps by moving towards something new.
With plans for new display boards, an increased range of markets and a few more ideas up our sleeves, the racetrack is an ideal space to grab a little bit of attention, whilst interacting and coming face to face with our customers.
We aim to carry forward our on-course values, whilst also presenting them on-line.
At a time when people’s lives are becoming less physically connected, we’ll continue to try to bridge that gap and offer a betting solution that reflects who we are in the purest sense.
So, to the track it is.
Come rain or shine, win or lose. We’ll be standing proud, both physically and digitally, taking ‘em on as real people, with real experience, feeling the pain of the losses and toasting the winners.
Hopefully more of the latter and less of the former!! Wish us lwc!
