WAP Announcement - May 2024
Greyhound Racing SA Limited (GRSA) wishes to advise participants that there is no Wagering Activity Payment (WAP) for the month of May 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 6.1% higher in May 2024 compared to the same month of the previous year which was mainly attributable to the introduction of Tuesday night race meetings. However, with the prizemoney increases in calendar year 2023 the total payments to participants for May exceeded the 50% WAP benchmark.
There is continued pressure on the wagering market in Australia due to the recently implemented ban on credit cards being used to deposit into wagering account coming into effect in mid-May. In addition, data provided by leading gaming analyst, Taylor Collison, has show that May was the 9th consecutive month that experienced year on year declines in app download numbers of wagering related applications. GRSA are continuing to work Wagering Service Providers to analyse our wagering results in an ever-changing landscape but are hopeful that recent month’s results may indicate that the double-digit declines recorded in some months during 2023 are less likely to be seen in the second half of 2024.
As listed in the calculation below total payments to participants exceeded the 50% WAP benchmark return and thus no payment will be made for May 2024.
The WAP calculation for the month is as follows:
|
|
Current Month |
|
|
Net Wagering Revenue * |
|
$2,037,000 |
|
Multiplied by |
|
X |
|
WAP Benchmark Return (50%) |
|
50% |
|
equals |
|
= |
|
Payout |
|
$1,018,000 |
|
less |
|
- |
|
Prizemoney ^ |
$899,000 |
|
|
Trainer Fees |
$86,000 |
|
|
Breeder bonuses |
$80,000 |
|
|
Total payments to Participants |
$1,065,000 |
$1,065,000 |
|
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.