Minister announces €200m investment in racecourses

Gurgle

Healio wrote:

If places like sligo, dundalk, ballinrobe had better facilities, and could offer more prizemoney, then more people would attend and bet more money, im not saying to fund the local businesses, but fund the courses so people will trek out to see good racing.

So by your reckoning:
- Irish people don't gamble enough as it is
- We don't have enough gamblers
- Bookies don't make enough money
- Race-horse owners don't make enough money
- Its a good idea for the government to spend €200 million to 'improve' these problems.

Hmmmm, I can't entirely agree.

Sports are often regarded as an opportunity for young people to do something else rather than drinking/smoking/joyriding/fighting/vandalising/robbing. Thats one of the big reasons why its generally good to spend money on sports facilities.

Under 18s aren't allowed to gamble.

In all fairness, who would go to the races to watch horses running around in circles if they weren't allowed to gamble ?

Besides which, even by the broadest definition gambling isn't a sport.

Healio

Gurgle wrote:

So by your reckoning:
- Bookies don't make enough money
- Race-horse owners don't make enough money
- Its a good idea for the government to spend €200 million to 'improve' these problems.

Thats my opinion indeed.

Gurgle

Healio wrote:

Thats my opinion indeed.

sarcasm ?

Healio

RainyDay wrote:

without draining the public purse.

(From the Horse and Greyhound Racing Act)
12.-(1) There shall stand established, on the establishment day, a fund to be known as the Horse and Greyhound Racing Fund, in this Act referred to as the ''Fund'', for the purpose of giving support to horse and greyhound racing.



(2) The Fund shall be managed and controlled by the Minister.



(3) The Minister shall pay into the Fund out of moneys provided by the Oireachtas, in the year 2001, an amount, determined by the Revenue Commissioners, equivalent to the revenue paid into the Exchequer in the year 2000 from excise duty on off-course betting.


(4) The Minister shall pay into the Fund out of moneys provided by the Oireachtas, in the year 2002 and in each subsequent year, an amount, determined by the Revenue Commissioners, equivalent to the revenue from excise duty on off-course betting paid into the Exchequer in the preceding year or the year 2000 increased by reference to the Consumer Price Index, whichever is the greater.


(5) The total aggregate amount paid into the Fund under subsections (3) and (4) shall not exceed £200,000,000 or such other increased amounts as may stand specified in regulations made by the Minister with the consent of the Minister for Finance.


(6) The Minister shall pay out of the moneys paid into the Fund in each year-



(a) 80 per cent. to HRI, and



(b) 20 per cent. to Bord na gCon.



(7) The Minister may by regulations vary the percentages specified in subsection (6).



(8) HRI and Bord na gCon shall apply moneys paid to them from the Fund only in the performance of their functions.



(9) (a) Payments from the Fund under subsection (6) shall be by instalments.



(b) The number of instalments and the amount of any such instalment shall be decided by the Minister based on an assessment of the financial needs at any time of HRI and Bord na gCon.



(10) HRI and Bord na gCon shall each with respect to moneys paid to them from the Fund prepare and submit to the Minister-



(a) strategic plans in accordance with the Strategic Management Initiative of the Government, and



(b) business, financial and development plans,



in such manner and at such intervals as required by the Minister with reference to the application of those moneys.



(11) All payments from the Fund to HRI and Bord na gCon shall be exempt from taxation.



(12) A statement of moneys paid into and out of the Fund shall be shown in a special note to the Appropriation Account under the Agriculture, Food and Rural Development Vote.



(13) A draft of every regulation proposed to be made under this section shall be laid before each House of the Oireachtas and the regulation shall not be made until a resolution approving of the draft has been passed by each such House.

The industry is paying for itself, i.e fai/irfu/gaa dont pay the betting tax, so therefore why is everyone complaining that the money from betting tax is paying for horse racing and not going to the gaa or fai?

Healio

Gurgle wrote:

sarcasm ?

not it is not sarcasm, bookies dont make enough money, well the on-course bookies anyway, and same with the owners, the average race-horse cots around €17,000 a year to keep in training, let say he last 5 racing seasons, thats 85,000 to keep him going, so if he doesnt make 85,000 in prizemoney then it has been a waste on the part of the owner.

Gurgle

Healio wrote:

not it is not sarcasm, bookies dont make enough money, well the on-course bookies anyway

So now book-keeping is a generally unsuccessful business venture ?

Fair enough, some may not make enough working one day per week to keep them in luxory.

Neither do I, neither do most people.

Healio wrote:

the average race-horse cots around €17,000 a year to keep in training, let say he last 5 racing seasons, thats 85,000 to keep him going, so if he doesnt make 85,000 in prizemoney then it has been a waste on the part of the owner.

I'm torn between several answers to these figures, so I'll give them all:
1. I don't care, thats not my problem, I didn't make him buy the damn horse.
2. Buying a race horse is a gamble. If you can't afford to lose, don't bet.
3. If its such a money guzzling racket, how come so many people do it ?

RainyDay

Healio wrote:

The industry is paying for itself, i.e fai/irfu/gaa dont pay the betting tax, so therefore why is everyone complaining that the money from betting tax is paying for horse racing and not going to the gaa or fai?

You seem to misunderstand the fundamental purpose of taxation. We do not (as individuals or organisations) have a right to get back from taxation what we put in. Can I claim back all the income tax I paid last year in order to build an extension to my house?

We all contribute to the pot, and we expect our Government to prioritise their spending (of our money) in the most important areas. We have newly-built hospital wards lying empty for want of funding, we have school roofs collapsing for want of maintainance - you believe the most important thing the Govt can do with this €110 million is upgrade the stands at a few racecourses?

Healio

Gurgle wrote:

So now book-keeping is a generally unsuccessful business venture ?

Fair enough, some may not make enough working one day per week to keep them in luxory.
?

yeah it is you ignorant bolox how many bookies do you know?

sceptre

Oh for the love of...

Healio banned for a week for breaking the no insulting other posters rule. Do not respond, do not pass go, do not collect two hundred quid.

Incidentally it's generally the rule that "bollox", "bollix" and even "bollocks" contains the letter L twice.