WAP Announcement - July
Greyhound Racing SA advises that no Wagering Activity Payment (WAP) will be made for July 2023.
As participants are aware, the WAP calculation is based on the net wagering revenue generated each period. Wagering revenue for July 2023 was 8.6% lower in comparison to same month from the previous financial year. As listed in the calculation below total payments to participants exceeded the 50% WAP benchmark return and thus no payment will be made for July 2023.
GRSA will continue to monitor revenue trends closely and notes that this reduction in revenue is being felt across all racing jurisdictions. It is considered the reduction is an indication of the negative impact that high inflation and interest rates are having on the disposable incomes of the wagering public.
The WAP calculation for the month is as follows:
|
|
Current Month |
|
|
Net Wagering Revenue * |
|
$1,967,000 |
|
Multiplied by |
|
X |
|
WAP Benchmark Return (50%) |
|
50% |
|
equals |
|
= |
|
Payout |
|
$983,000 |
|
less |
|
- |
|
Prizemoney ^ |
$803,000 |
|
|
Trainer Fees |
$88,000 |
|
|
Breeder bonuses |
$103,000 |
|
|
Total payments to Participants |
$994,000 |
$994,000 |
|
Equals |
|
= |
|
WAP for the month |
|
$0 |
* 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.
^ Prizemoney includes payments to winners, places und unplaced of all South Australian races. Following feedback from participants in December 2020, additional money for feature races is averaged over the year.