WAP announcement for May 2022
Greyhound Racing SA Limited (GRSA) wishes to advise participants that the Wagering Activity Payment (WAP) for the month of May 2022 will amount to $74,000, taking total payments for the year to nearly $2.0 million.
GRSA has been predicting a re-calibration of wagering revenue for some time and that softening of revenue now appears to be taking place. GRSA will continue to monitor and report on wagering trends.
Payments will be made to participants this coming Friday, 17th June.
* 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.
Distribution between Trainers and Owners
GRSA would like to remind all participants who receive a WAP that the payment is the equivalent of prizemoney. If you are currently responsible for distributing prizemoney to another party (eg owners) 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 of 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.
Comparison table showing the impact of WAP on a selection of prizemoney levels
The full release can be viewed by clicking on this link.