Pulse
SPORTS BETTING OPERATIONS FITZDARES
Fitzdares: UK
horse racing needs a benign dictator
Private bookmaker, Fitzdares, has been taking
bets since 1882. Following his appearance on the ‘Assessing Euro 2020’ panel at Betting on Sports Europe last month, G3 took the opportunity to
quiz CEO, William Woodhams, about his heartfelt passion for horse racing and luxury experiences.
As the sport he loves continues to fall behind football as the country’s number one betting sport, William believes the UK horse-racing industry needs to work out better ways of structuring and funding itself. Looking ahead to the looming Gambling Act review, William expects greater obligations of bookmakers to check their client’s level of affordability.
Two quick-fire questions to begin. Firstly, what are the core elements of bookmaking?
Beating people was the absolute core of the business – winning. Nowadays, its compliance. It's gone from one end of the spectrum to the absolute opposite.
Secondly, what drives punters to betting – technology or marketing?
Both. Te two are so intertwined. Efficacy in product has become as integral to the marketing mix as above the line, through the line and below the line.
Fitzdares’ business is fundamentally rooted in UK and Irish horse racing. How interested are your customers in international horse racing?
Te "sixth classic" in flat racing is the Arc. We will see as much money at Longchamp that weekend as we would in a traditional UK flat race. For several years, we hosted a 200-person party where we screened the Breeders Cup, which drove plenty of interest.
P70 WIRE / PULSE / INSIGHT / REPORTS
William Woodhams, CEO, Fitzdares
Bookmakers generate engagement in racing but, unfortunately in my view,
football is now the number one betting sport in the UK.
Whereas it should be racing.
We tread a fine line. If we had a tote firing on all cylinders, that would make up for the shortfall in racing. Fixed odds have
become more popular in recent years for the simple reason that it’s been a race to the bottom.
During lockdown when French racing was on, we saw a real peak in interest but ultimately, people want to bet when they have some knowledge of what they are looking at. However, I love international racing and it's great to have a product early in the morning and late at night people.
Horse racing is betting, and betting is horse racing…
Exactly. It's a real chicken and egg. Te Jockey Club was invented to manage wagers between gentlemen. Tat's it. It’s in the DNA of everything in racing.
With that in mind, is the sport doing all it can to maximise the Levy funds it receives, especially as the number of retail shops taking up media rights continues to fall?
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