Wagering Activity Payment (WAP) for September
Greyhound Racing SA Limited (GRSA) wishes to advise participants that the Wagering Activity Payment (WAP) for the month of September 2020 will amount to $143,000. The payment will be processed today, along with other weekly payments.
The total amount paid to participants for the year to date now totals $705,000. This is a great result and is substantially above our budget estimates. It is noteworthy that the WAP payments have been reducing each month. GRSA’s expectation is that as wagering activity tapers off (especially after Christmas) that WAP payments will more closely equate to $50,000 per month. One of the significant benefits of the WAP model is that in good months (as we have had so far this year) that GRSA can return more money to participants; and do so sooner.
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.
Another way of assessing the WAP results is to include the WAP’s in the standard graded stakemoney for non-feature events. The table below does this for a selection of regularly run races (for place-getters only). As noted above, the results are much better than GRSA’s budget estimates and the expectation is that future levels above the base will be more modest.
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.