WAP Announcement - June 2024
Greyhound Racing SA Limited (GRSA) wishes to advise participants that there is no Wagering Activity Payment (WAP) for the month of June 2024.
As participants are aware, the WAP calculation is based on the net wagering revenue generated each period. As seen in the graph below Race Field Revenue was 1.2% lower in June 2024 compared to the same month of the previous year. With the 5% prizemoney increase in December 2023 the total payments to participants for May exceeded the 50% WAP benchmark.
With the introduction of Tuesday night race meetings at Angle Park in Mid-May it is pleasing to see that wagering has stabilised over the last quarter. The distinct possibility of further interest rate rises in the second half of 2024 does continue to place further pressure on the wagering market in Australia and thus GRSA will continue to analyse our racing program to ensure wagering returns are maximised.
As listed in the calculation below total payments to participants exceeded the 50% WAP benchmark return and thus no payment will be made for June 2024.
The WAP calculation for the month is as follows:
|
|
Current Month |
|
|
Net Wagering Revenue * |
|
$1,992,000 |
|
Multiplied by |
|
X |
|
WAP Benchmark Return (50%) |
|
50% |
|
equals |
|
= |
|
Payout |
|
$996,000 |
|
less |
|
- |
|
Prizemoney ^ |
$846,000 |
|
|
Trainer Fees |
$77,000 |
|
|
Breeder bonuses |
$75,000 |
|
|
Total payments to Participants |
$998,000 |
$998,000 |
|
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.