Cliff Williams Contributor
WHILE WE are enduring this seemingly interminable delay as we wait for the persons at the National Investment Bank of Jamaica entrusted with the responsibility to make a decision on which, if any at all, of the two bids gets the nod for the lease of the Caymanas facility, there are certain things that could be implemented immediately to enhance the viability of the local version of the Sport of Kings to ensure its survival.
There is absolutely no need to wait any longer to start taking steps to improve things and there are a few suggestions that can be implemented to make an instant positive impact on the industry without any significant additional expenditure.
The following is extracted from my column of the 6th of August 2004.
"The possibility of giving even more protection to the promotion of live racing should be examined as this would enhance the viability of the racing industry as a whole.
BETTER MARKETING
"Specifically I would suggest that on local race days, by consensus, there is no wagering on racing held outside of Jamaica and that the bookmakers along with the promoters work together to market the local product in a more concentrated way.
"I would also suggest and expect the government to increase significantly its vigilance in the effort to monitor and control illegal activities in the market place. The promoters and bookmakers may have to assist with resources such as offering rewards to persons providing information leading to the arrest and conviction of illegal operatives in the gaming industry."
TAX MODEL
Recently I dealt with the matter of the possible implementation of the Gross Profit Tax model. This has proven to be so successful in the United Kingdom that wagering on horseracing with bookmakers there has more than quadrupled with this regime allowing for a greater return to punters by way of larger dividends and consequently much more revenue for the Exchequer.
There has been a promise by the government to institute the model here in Jamaica but as usual there is nothing much happening as no timetable for implementation has been disclosed.
On the matter of marketing, I see where the United Bookmakers Association is developing a policy to increase the popularity of the local product and will be sponsoring television coverage of live racing.
RIDICULOUS POLICY
It is now abundantly clear that the ridiculous policy that restricted the bookmakers from operating as regular businesses and being able to advertise their services has never redounded to the benefit of the industry.
For the last decade or so the promoting company has been trying to get the political directorate to understand that the taxes payable from the betting dollar is a major disincentive to wagering as it destroys the punters' perception of value for money.
INCONTROVERTIBLE EVIDENCE
In spite of the fact that incontrovertible evidence has been presented to demonstrate that the tax regime is pernicious to the development of the industry, nothing has been done.
I can only conclude that, although enlightened tax regimes implemented elsewhere in the world yield greater volumes of revenues and enhanced development prospects for the industry, our government is clearly of the view that the outcome of the implementation of these polices will somehow be different in Jamaica.
AMATEUR
As I have pointed out in the past, horseracing in Jamaica has been organised to operate in an amateur way and despite the best efforts of the players in the industry for many decades to take it out of this realm it remains firmly entrenched in this state.
I am afraid that it will remain so until the government, owners of the promotional side of the operation, comes to realisation that if given the opportunity the local version of the Sport of Kings can achieve full professional status.
