WAP announcement for September 2022

15/09/2022
Racing News

Payments will be made to participants this coming Friday, 16^th September.

The WAP Greyhound Racing SA Limited (GRSA) wishes to advise participants that the Wagering Activity Payment (WAP) for the month of August 2022 will amount to $98,000.

The WAP calculation for the month is as follows:

		Current Month
Net Wagering Revenue *		$2,130,000
Multiplied by		X
WAP Benchmark Return (50%)		50%
equals		=
Payout		$1,065,000
less		-
Prizemoney ^	$770,000
Trainer Fees	$88,000
Breeder bonuses	$109,000
Total payments to Participants	$967,000	$967,000
Equals		=
WAP for the month		$98,000

*     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.

The table below shows the total WAP position for the year to date.

Month	Indexed Net Wagering Revenue (NWR)	NWR x 50%	Returns (ex WAP)	WAP	WAP YTD
	A	B	C	B less C
	($’000)	($’000)	($’000)	($’000)	($’000)
Jul 22	2,022	1,011	947	64	64
Aug 22	2,130	1,065	967	98	162

 

 

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

Month	Category 1 Meetings GRADE 5 530m	Category 2 Meetings GRADE 5 531m	Category 3 Meetings GRADE 5 512m	Category 2 Meetings GRADE 5 400m	Category 3 Meetings GRADE 5 400m
Base stakemoney levels excluding WAP:  [Minimum paid out to participants].
Base	$3,585	$1,645	$1,005	$1,430	$880
Final stakemoney levels paid out including WAP:
Jul 22	$3,908	$1,793	$1,095	$1,559	$959
Aug 22	$4,094	$1,879	$1,148	$1,633	$1,005

 

Example to help participants understand the WAP they receive

It is not uncommon for GRSA to receive requests for more information in relation to how the WAP is calculated for their particular dogs(s).  The example below is provided to assist in the general understanding of the calculation.

Assumptions:

In this example, assume the owner/trainer received $1,000 in prizemoney for any/all races for the month.

		EXAMPLE
Net Wagering Revenue		$1,800,000
Multiplied by		X
WAP Benchmark Return (50%)		50%
equals		=
Payout		$900,000
less		-
Prizemoney	$700,000
Trainer Fees	$80,000
Breeder bonuses	$70,000
Total payments to Participants	$850,000	$850,000
Equals		=
WAP for the month		$50,000

In this the total prizemoney (paid to all participant) is $700,000.

In this example, the total WAP is $50,000.

In this example, the owner/trainer would receive a WAP of $71.43, calculated as:

$1,000   ÷   $700,000    x    $50,000    =    $71.43

Participants should note that:

• WAP is not payable for any prizemoney received in relation to feature races [where total stakes are above $5,000];
• Trainers’ fees and other bonus payments are not included in the calculation of the share of the WAP; and
• It is a requirement that a greyhound has to have raced and received prizemoney during a month to be eligible to receive the WAP payment for that month.