There is no question that 2020 will go down as one of the most challenging in history for our sport, with most major racing nations forced to shut down for lengthy periods to combat the threat of coronavirus.
The consequences of lockdown are becoming clear with reduced purses in many places, but Hong Kong’s resilience in keeping racing going for the last five months has paid a hugely positive dividend with news that total prize money for the 2020/21 season will increase by almost 5% to a record HK$1.4 billion.
Full details of the increases can be found here, but it is well worth flagging up the key changes at all levels of Hong Kong racing.
The LONGINES Hong Kong Sprint increases in value from HK$20 million to HK$22 million. As a result it regains the mantle of the world’s richest 1200m turf contest and means that – allied to the Queen’s Silver Jubilee Cup, the Hong Kong Mile and the Hong Kong Cup – Sha Tin now stages the richest turf races in the world over 1200m, 1400m, 1600m and 2000m.
Ensuring our top races reward owners and remain attractive to overseas stars is always high on our agenda, as is encouraging Hong Kong horsemen to continue investing in high quality young stock. With that in mind the Club has significantly boosted our Four-Year-Old Classic Series, the Hong Kong Classic Mile and Hong Kong Classic Cup going up by HK$2 million to HK$12 million and the BMW Hong Kong Derby rising from HK$20 million to HK$24 million to become the second richest Derby in the world.
In addition, five of our Group 1 contests will increase in value from HK$10 million to HK$12 million and Group 2 contests will rise by 5.9% to HK$4.5 million. Group 3 races will go up by 7.7% to HK$3.5 million, while Class 1 to Class 5 prizes will increase by between 3.4% to 7.1%.
International competition has never been more fierce, and COVID-19 and uncertainty in world economies has intensified challenges, but we are determined to give owners every incentive to continue their support and these steps illustrate our determination to maintain Hong Kong racing’s position as a true world leader.
World Pool hits new heights at Royal Ascot
Last year’s inaugural World Pool at Royal Ascot provided a solid foundation with total turnover of HK$895 million and, with extra races, earlier starts and reduced maximum fields, we had some optimism that the concept would come into its own this year. One day’s data is a small sample, of course, but the fact that total turnover for Tuesday’s opening day card reached HK$272.1 million is highly encouraging with the next few days in mind.
Value and choice have always been the keys to generating large pools and those concepts have driven our decision to implement two new initiatives for next season. The first is the relaunch of the Forecast, which will merge with the Trio to form the ‘Forecast & Trio Merged Pool’, while the second involves a rebate boost for losing Quinella and Quinella Place bets.
The Forecast, which involves naming the first two in correct order, is very popular in the UK, USA and Canada. Merging it with our existing Trio pool will boost liquidity, while setting takeout at 19.5% (down from 25% on current Trio takeout) adds appreciable value for a bet that reflects the increased importance of international commingling.
Quinella and Quinella Place remain among our most popular pools and from next season the rebate on losing Q and QP bets for local races on single tickets or bet lines of HK$10,000 or more will rise from 10% to 12%. Again, this will offer increased value to customers but it will also enable the Club to combat discounts offered by illegal bookmakers and maximise funds directed to good causes.
Japan a headline act on day two
Moving back to Royal Ascot, Wednesday’s G1 Prince of Wales’s Stakes (R4) is one of Europe’s great 2000m contests with a strong Hong Kong connection, Ouija Board, Vision d’Etat and Highland Reel all winning HKIR races before or after their Ascot success.
This year’s favourite is Aidan O’Brien’s Japan, who was very impressive in a G2 at this meeting last year and went on to show top-class form, getting the better of a tight finish with Crystal Ocean in York’s Juddmonte International and finishing fourth behind Waldgeist and Enable in the Prix de l’Arc de Triomphe.
Only seven face the starter and tactics could play an important part, none of the field known for making the running of late, and the pace is unlikely to be strong. Addeybb scored at this meeting last year and has thrived since, winning two G1’s in Australia this spring. If rain arrives he will have a solid place chance. Barney Roy won on this day three years ago before failing to fire at stud and is still high class based on two wins in Dubai this year, while Headman and Lord North are open to improvement.
Headman should come strongly from off the pace and is a place chance along with Lord North, who looked better than ever on his recent return, but Japan is a proven G1 winner with scope for further progress this year and he looks the most likely winner with Ryan Moore aboard.
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