WAP announcement for October 2022
WAP announcement
Greyhound Racing SA Limited (GRSA) wishes to advise participants that the Wagering Activity Payment (WAP) for the month of October 2022 will amount to $124,000 which takes total payments for the year so far to $376,000. While it is the largest monthly WAP this financial year there remain signs that wagering turnover is being negatively impacted by the macro-economic factors of increasing inflation and interest rates. GRSA will continue to monitor the situation and update participants accordingly.
Payments will be made to participants today (Friday, 18th November).
The table below shows the total WAP position for the year to date.
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
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