Following on from the Goffs Land Rover bumper, Tattersalls have their own version at Fairyhouse at the end of Arpil 2011 worth €100k. Having bought a horse at the Derby sale and previously entered horses in the Land Rover, I'm dismayed by the entry fees charged. At least for the Land Rover, there are only 600 horses eligible. For the Tatts race there are 1,000 eligible and look at the entry stages:
If 200 enter, that's €80k straight away, 100 stay in come 1 Dec, that's another €30k, 50 stay in at Feb, that's another €10k, and the 25 declare, that's another €3k. Total receipts €123k + €10k bookage fee. So who makes the profit of €23k?? And if no profit made, they could afford to lose circa 30 horses at each stage and still break even. So are Tatts just underwritig it. At least Goffs were taking some sort of a chance with 600 horses, but 1,000 for Tatts. Hardly much risk there.
BTW, I'll be advising my syndicate not to enter as we will have €700 in the hole before we know if he's any good!!
€400 to enter (plus €13.50 bookage fee)
€300 extra (plus €40 bookage fee) if forfeit not declared by 1st December 2010,
€200 extra (plus €40 bookage fee) if forfeit not declared by 23rd February, 2011,
€100 extra (plus €40 bookage fee) if forfeit not declared by 21st April, 2011€300 extra (plus €40 bookage fee) if forfeit not declared by 1st December 2010,
€200 extra (plus €40 bookage fee) if forfeit not declared by 23rd February, 2011,
If 200 enter, that's €80k straight away, 100 stay in come 1 Dec, that's another €30k, 50 stay in at Feb, that's another €10k, and the 25 declare, that's another €3k. Total receipts €123k + €10k bookage fee. So who makes the profit of €23k?? And if no profit made, they could afford to lose circa 30 horses at each stage and still break even. So are Tatts just underwritig it. At least Goffs were taking some sort of a chance with 600 horses, but 1,000 for Tatts. Hardly much risk there.
BTW, I'll be advising my syndicate not to enter as we will have €700 in the hole before we know if he's any good!!