Wagering Activity Payment (WAP) for May
Greyhound Racing SA Limited (GRSA) wishes to advise participants that the Wagering Activity Payment (WAP) for the month of May 2021 will amount to $238,000. The payment will be processed on Friday 18 June.
Total WAP payments for the eleven months to the end of May now amount to $2,644,000 compared to the initial total estimate of $600,000 for the full year. As announced on 31 May, base stakemoney will be increased from 1 July 2021, which will result in higher weekly payments but much lower WAPs in the next financial year.
The table below is provided for the benefit of those participants wishing to better understand the computation of the WAP.
* Net Wagering Revenue is the combination of all corporate race field fees and Tabcorp product fees, less the fees associated with the generation of Tabcorp product fee from wagering on interstate racing product.
^ Total Returns to Participants is the combination of all prizemoney and trainers’ fees paid out by GRSA.
Distribution between Trainers and Owners
GRSA would like to remind all participants that receive a WAP that the payment is the equivalent of prizemoney. If you are currently responsible for distributing prizemoney to another party then the same approach applies to WAP payments.
From GRSA’s perspective the position in relation to third parties is reflective of OzChase records and is as follows:
- If GRSA have been notified of an ownership split [which is recorded in OzChase] then you DO NOT need to make a payment to owners for the WAP because GRSA will do this automatically;
however
- If you ordinarily forward on payments to owners on your own accord, then you DO need to do the same for the WAP. Each remittance will include the name of the dog for which the WAP is being made.