2014/2015. Approvals for the Publication and Use of Victorian Thoroughbred Race Fields. Guide to the Provision of Information

Transcription

1 2014/2015 Approvals for the Publication and Use of Victorian Thoroughbred Race Fields Guide to the Provision of Information While all care has been taken to ensure that the information contained in this document is accurate, the information is intended as a guide only. This guide does not form part of the Standard Conditions of Approval for the Publication and Use of Victorian Thoroughbred Race Fields and the Standard Conditions of Approval prevail in the event of any inconsistency with this guide.

2 Table of Contents Introduction to the Race Fields Policy 2014/ Requirement under Standard Conditions of Approval Daily Data Collection Introduction to the Data Collection Bets Taken Free Bets Taken Daily Reporting of the Eligible Portion of a Multi-Event/Multi-Leg Bet Reporting Eligible Portion of Winning Multi-Event/Multi-Leg Bet (EPWMB) Race Meeting Key... 8 Part B Completing the monthly Economic Contribution Fee Return form Requirement under Standard Conditions of Approval Monthly Payment Period and Data Submission Aggregated Assessable Turnover Fees on Parimutuel Bets Fees on Non-parimutuel Bets Aggregated Multi Bets (AMB) Attachment 1 Sample of Daily File Approved By: Amy Zavros, General Manager Planning and Information Services Issued By: Glenn Marshall Business Analyst Revised Date Issued: 19 June 2014 Version: 3.0 Racing Victoria Guide to the Provision of Information 2014/2015 2

3 Purpose This guide has been prepared to assist Approved WSPs in understanding the reporting requirements under Racing Victoria s standard conditions of approval to publish and use Victorian thoroughbred race fields (Standard Conditions of Approval). Capitalised terms used in this guide have the meaning given in the Standard Conditions of Approval. In addition, the following terms are used in this guide: Event Date means the date on which a Victorian Race which is the subject of a Betting Transaction occurred. Result Date means the date on which the Betting Transaction resulted (that is either won or failed). Introduction to the Race Fields Policy 2014/2015 With effect from 1July 2014, there will be significant changes to the basis of calculating the Economic Contribution Fee under the Standard Conditions of Approval. As a result, there will also be changes to the information required to be provided by Approved WSPs to Racing Victoria. Table 1.0 Summary of Race Fields Levy Rates 2014/2015 Key Highlights The key changes to the calculation of Economic Contribution Fees are: Parimutuel Bets and Non-parimutuel Bets are differentiated Type of Race Meeting is used to define levy rate Parimutuel Bets are levied on the basis of Assessable Turnover Non-parimutuel Bets are levied on the greater of Assessable Turnover and Gross Revenue with this calculation applied at the Race Meeting level Racing Victoria Guide to the Provision of Information 2014/2015 3

4 Portions of a Multi-Leg Bet with an Event Date outside the Payment Period but which have a Result Date within the Payment Period are charged on Assessable Turnover only. All Approved WSPs pay 1% of Assessable Turnover up to and including the day that their Aggregated Assessable Turnover exceeds $5.5 million. Once Aggregated Assessable Turnover exceeds $5.5 million, the rates set out in Table 1.0 apply. Part A Guide to Daily Supply of Data 1. Requirement under Standard Conditions of Approval Clause of the Standard Conditions of Approval requires each Approved WSP to: provide to RVL in the media (hard copy or electronic), by the method and at the time or times requested by RVL, all information relating to Betting Transactions (including amounts paid to Customers in relation to those Betting Transactions, Bet Backs and Free Bets) on a race-by-race, venue-by-venue and day-by-day basis in the form annexed to these conditions and available for downloading on the RVL website (as that form is amended by RVL from time to time). 2. Daily Data Collection Racing Victoria requires a daily file (Daily File) containing details of all Betting Transactions which have the same Result Date to be submitted by 9am on the following day. Racing Victoria anticipates that Approved WSPs will automate this process and submit to Racing Victoria overnight via FTP. The naming convention for the Daily Files is: WSPxxxxx_DDMMYYYY.csv Where: - xxxxx is the Approved WSP Unique Code (provided to Approved WSPs by Racing Victoria); and - DDMMYYYY is the Result Date within the file. Example file name: WSP10001_ csv 3. Introduction to the Data Collection A sample of the Daily File is Attachment 1. Data should be supplied in a comma-separated values (CSV) format and otherwise as follows: Order Element Type Max length Rules Example 1 Approved WSP Unique ID Alpha Numeric 6 Mandatory 90210a 2 Name of Approved WSP Text 30 Mandatory Company 3 Event Date Date (dd/mm/yyyy) 10 Mandatory 12/08/ Bet Result Date Date (dd/mm/yyyy) 10 Mandatory 12/08/ Venue Text 30 Mandatory Caulfield 6 Race Number Numeric 2 Mandatory 3 Racing Victoria Guide to the Provision of Information 2014/2015 4

5 Order Element Type Max length Rules Example 7 Non PM Bets Taken (excluding Multi- Event/Multi-Leg Bets) Currency if applicable Non PM Bets Paid (excluding Multi- Event/Multi-Leg Bets) Currency if applicable Net Customer Winnings Currency Betting Exchange only All Bets Back Currency If applicable Bet Back Revenue Currency if applicable Non PM Other Revenue Currency if applicable Non PM EPMB Eligible Portion of Multi- Event /Multi-Leg Bets Currency if applicable Non PM EPWMB Eligible Portion of Winning Multi-Event/ Multi-Leg Bets Currency if applicable Non PM Free Bets Taken Currency if applicable Non PM Free Bets Paid Currency if applicable PM Bets Taken (excluding Multi-Event/Multi-Leg Bets) Currency if applicable PM Bets Paid (excluding Multi- Event/Multi-Leg Bets) Currency if applicable PM Other Revenue Currency if applicable PM EPMB Eligible Portion of Multi- Event /Multi-Leg Bets Currency if applicable PM EPWMB Eligible Portion of Winning Multi-Event/ Multi-Leg Bets Currency if applicable Jackpots Created Currency if applicable PM Free Bets Taken Currency if applicable PM Free Bets Paid Currency if applicable Race Meeting Key Text Mandatory 41734Flemington Not all headings are relevant to each Approved WSP. It is important, however, that any Daily File submitted include a column for each of the elements listed. Nil values should be populated as zero. In particular, Parimutuel Bets are to be reported separately from Non-parimutuel Bets. Therefore, for Approved WSPs offering fixed odds betting only, columns 17 to 24 of the Daily File will have zero values. For Approved WSPs offering Parimutuel Bets only, columns 7 to 16 of the Daily File will have zero values. 4. Bets Taken Bets Taken includes Betting Transactions involving two or more contingencies, all of which resulted at a Race Meeting. This includes but is not limited to Win, Place, Trifecta, Exacta, Quinella, First Four, Head-to-Head, Margin bets and any other approved race-specific bet types. For the purposes of the Daily File, where a Betting Transaction relates to more than one Victorian Race occurring at the same Race Meeting, the amount of the Betting Transaction is apportioned evenly across each of the Victorian Races which are the subject of the Betting Transaction. Any Betting Transaction involving multiple contingencies across more than one Race Meeting or events are to be excluded from Bets Taken and treated according to the rules set out in the Standard Conditions of Approval for Multi-Event/Multi-Leg Bets. Racing Victoria Guide to the Provision of Information 2014/2015 5

6 No deductions are permitted for money back offers or similar inducements in relation to nonwinning Betting Transactions. 5. Free Bets Taken Bets Taken includes all Free Bets. 6. Daily Reporting of the Eligible Portion of a Multi-Event/Multi-Leg Bet Approved WSPs are required to report on the Eligible Portion of a Multi-Event/Multi-Leg Bet that resulted on the Result Date which is reported on in the Daily File. The face value of a Multi-Event/Multi-Leg Bet is apportioned equally across the legs and the Eligible Portion of a Multi-Event/Multi-Leg Bet which is reported in the Daily File is the proportion relating to Victorian Races on the Result Date. Example 6.1 An Approved WSP accepts a $75 Multi-Event/Multi-Leg Bet for the AFL Grand Final (27/09/2014) into an ATP Tour Event into the Cox Plate, (25/10/2014). The bet results on the Cox Plate. This bet would be split into three portions. The requirement is to report only the Victorian Racing portion: Event Date Result Date Venue Eligible Portion of a Multi- Event/Multi-Leg Bets 25/10/ /10/2014 Moonee Valley $25 7. Reporting Eligible Portion of Winning Multi-Event/Multi-Leg Bet (EPWMB) Approved WSPs have a choice of method for calculating the Eligible Portion of a Winning Multi- Event/Multi-Leg Bet. An Approved WSP may elect to calculate Eligible Winning Portion as either: (a) the amount paid or credited to a Customer under the Multi-Event/Multi-Leg Bet VRO AO where: VRO means the odds set by the Approved WSP under the Multi-Event/Multi- Leg Bet for the Relevant Winning Race; and AO means the sum of the odds set by the Approved WSP for all legs of the Multi-Event/Multi-Leg Bet; or (b) the amount paid or credited to a Customer under the Multi-Event/Multi-Leg Bet 1 AC Racing Victoria Guide to the Provision of Information 2014/2015 6

7 where AC means the number of contingencies within the Multi-Event/Multi-Leg Bet. Approved WSPs must notify Racing Victoria in writing of the nominated calculation method prior to the commencement of the Approval Period. Once the Approved WSP has notified Racing Victoria of its nominated calculation method, the Approved WSP may not alter its nomination method within the Approval Period. Example 7.1 An Approved WSP accepts a $50 Multi-Event/Multi-Leg Bet in the Caulfield Cup into the Melbourne Cup. The bet is successful on the Melbourne Cup. Event Date Result Date Venue Eligible Portion of a Multi- Event/Multi-Leg Bets Odds EPWMB Option (a) EPWMB Option (b) 18/10/ /11/2014 Caulfield $25 $5.25 $ $1, /11/ /11/2014 Flemington $25 $12.00 $2, $1, Sum: $3, $3, Example Option a) Stake = $50 Event Odds = $5.25 for Caulfield Cup; $12.00 for Melbourne Cup Step One: Calculate Total Odds = $5.25 x $12.00 = $63.00 Step Two: Calculate Sum of All Odds = $ $12.00 = $17.25 Option a) EPWMB = (Stake x Total Odds) x (Event Odds / Sum of All Odds) Option a) EPWMB Caulfield = ($50 x $63) x ($5.25/$17.25) = $ Option a) EPWMB Flemington = ($50 x $63) x ($12.00/$17.25) = $2, Option a) Sum of EPWMB (across both legs) = $ , = $3, Example Option b) Stake = $50 Step One: Calculate Total Odds = $5.25 x $12.00 = $63.00 Option b) EPWMB = (Stake x Total Odds) x (1 / Total Number of Contingencies) Option b) EPWMB Caulfield = ($50 x $63) x (1/2) = $1, Option b) EPWMB Flemington = ($50 x $63) x (1/2) = $1, Option b) Sum of EPWMB (across both legs) = 1, , = $3, Example 7.2 An Approved WSP accepts a $75 three-leg Multi-Event/Multi-Leg Bet featuring Sport and Victorian Racing (AFL, tennis and the Cox Plate). The Betting Transaction results on the Cox Plate. The Approved WSP reports only the relevant Victorian Racing portion. Event Date Result Date Venue Eligible Portion of a Multi- Event/Multi-Leg Bets 27/09// /09/2014 Sport (Tennis) Odds EPWMB Option (a) EPWMB Option (b) $25 $1.25 na na 27/09/ /09/2014 Sport (AFL) $25 $1.40 na na 25/10/ /10/2014 Moonee $25 $3.80 $ $ Valley Racing Victoria Guide to the Provision of Information 2014/2015 7

8 Example Option a) Stake = $75 Event Odds = $3.80 for Cox Plate runner; $1.25 (Tennis); $1.40 (AFL) Step One: Calculate Total Odds = $1.25 x $1.40 x $3.80 = $6.65 Step Two: Calculate Sum of All Odds = $ $ $3.80 = $6.45 Option a) EPWMB = (Stake x Total Odds) x (Event Odds / Sum of All Odds) Option a) EPWMB Cox Plate = ($75 x $6.65) x ($3.80/$6.45) = $ Example Option b) Stake = $75 Step One: Calculate Total Odds = $1.25 x $1.40 x $3.80 = $6.65 Option b) EPWMB = (Stake x Total Odds) x (1 / Total Number of Contingencies) Option b) EPWMB Cox Plate = ($75 x $6.65) x (1/3) = $ Race Meeting Key This is a unique identifier based on Event Date and Venue used to link the monthly data file to the Economic Contribution Fee Return form. Racing Victoria will provide the race meeting key to WSPs. Racing Victoria Guide to the Provision of Information 2014/2015 8

9 Part B Completing the monthly Economic Contribution Fee Return Form 1. Requirement under Standard Conditions of Approval Clause of the Standard Conditions of Approval provides that: Within 10 days after the end of each Payment Period, the Approved WSP must: (a) (b) complete an Economic Contribution Fee Return Form in relation to that Payment Period and provide the completed form to RVL together with any supporting information RVL may require; and pay to RVL the aggregate of the Fees calculated by the Approved WSP as payable in respect of the Payment Period using the basis of calculation set out in the Economic Contribution Fee Return Form. 2. Monthly Payment Period and Data Submission A monthly file containing all Betting Transactions which have resulted within the month is required to be supplied as part of the Economic Contribution Fee Return Form process. A sample of the Economic Contribution Fee Return Form is Attachment 2. The naming convention for the monthly files is: Approved WSPxxxxx_MMMYYYY.csv Where: - xxxxx is the Approved WSP Unique Code (provided to WSPs by RV); and - MMMYYYY is the Month pertaining to the bet activity. Example file name: WSP10001_JUL2014.csv 3. Aggregated Assessable Turnover The Standard Conditions of Approval provide that where the Aggregated Assessable Turnover of the Approved WSP is less than the Turnover Threshold on the day of a Race Meeting, the Fee relating to that Race Meeting will be levied at 1% of Assessable Turnover even if the Aggregated Assessable Turnover exceeds the Turnover Threshold during the course of the Race Meeting. Note that the Turnover Threshold is applied at partner level, effectively granting an increase in the Turnover Threshold for an Approved WSP within a bookmaking partnership based on the number of partners who are natural persons and registered/licensed bookmakers within the Partnership. A Guidance Policy on this matter provides further details. Example 3.1 An Approved WSP has Aggregated Assessable Turnover of $4.45 million. A Standard Meeting is conducted at Swan Hill whilst a Premier Meeting is held on the same afternoon at Flemington. As the Approved WSP's Aggregated Assessable Turnover is less than $5.5 million at the start of the day, the Fee for each of the Race Meetings will be 1% of the Assessable Turnover for those Race Meetings. Racing Victoria Guide to the Provision of Information 2014/2015 9

10 Example 3.2 An Approved WSP has Aggregated Assessable Turnover of $5.45 million on August 19th. Two Race Meetings are held on August 20th and the Approved WSP takes bets on both a Group and Listed Meeting and a Standard Meeting. Trading across the day generates $75,000 in Assessable Turnover, taking the Aggregated Assessable Turnover over $5.5 million. The Fee for both the Standard Meeting and the Group and Listed Meeting will be 1% of the Assessable Turnover for those Race Meetings. The tiered fee rates and the Non-parimutuel Gross Revenue (or Assessable Turnover) calculation will apply to all Betting Transactions taken from August 21st. 4. Fees on Parimutuel Bets All Parimutuel Bets taken by the Approved WSP after the day on which an Approved WSP's Aggregated Assessable Turnover first exceeds $5.5 million will be levied at the rate applicable for the relevant class of Race Meeting, as set out in paragraph 3.2 of Schedule 1 of the Standard Conditions of Approval. 5. Fees on Non-parimutuel Bets The Fee charged on Non-parimutuel Bets taken by the Approved WSP after the day on which an Approved WSP's Aggregated Assessable Turnover first exceeds $5.5 million will be the greater of the Fee calculated under the Turnover Model and Gross Revenue Model, as set out in paragraph 4 of Schedule 1 of the Standard Conditions of Approval. 6. Aggregated Multi Bets (AMB) Where the Event Date and the Result Date in relation to the Victorian Race leg of a Multi- Event/Multi-Leg Bet occur in different Payment Periods, the Eligible Portion of that Multi- Event/Multi-Leg Bet which relates to that Victorian Race are grouped in the Economic Contribution Fee Return for the month in which the bet resulted and a Fee is levied on the basis of Assessable Turnover at the rate of 2.5% (in relation to Parimutuel Bets) and 3% (in relation to Non-parimutuel Bets). If a Multi-Event/Multi-Leg Bet has not yet resulted this bet is live and is not required to be reported until the Payment Period in which it results. If the Aggregated Assessable Turnover of an Approved WSP is less than $5.5 million the applicable rates for Non-parimutuel Bets which resulted in the Payment Period but which had Event Dates outside the Payment Period is 1% of the Eligible Portion of each Multi-Event/Multi- Leg Bet. (see AMB examples on page 11) Racing Victoria Guide to the Provision of Information 2014/

11 Example 6.1 An Approved WSP accepts a $50 fixed odds Multi-Event/Multi-Leg Bet on the winner of the Caulfield Cup into the Melbourne Cup. The Caulfield Cup leg is successful and the bet results in November. Event Date Bet Result Date Venue Eligible Portion of a Multi-Event/Multi-Leg Bets Odds EPWMB 18/10/ /11/2014 Caulfield $25 $5.25 $ /11/ /11/2014 Flemington $25 $12.00 $2, Within the October Payment Period this bet is still live unresulted and so is not reported. The bet results within the November Payment Period. The Melbourne Cup leg can be attributed (via Event Date) to the Assessable Turnover and Gross Revenue calculations of the Melbourne Cup meeting (November 4 th ) and is reported in the Daily File on 5 November and in the Monthly File for November. The Caulfield Cup leg is accounted for in the November Monthly File as part of AMB for the month of November. This portion of the bet is to be levied at 3% of Assessable Turnover (assuming that the Aggregated Assessable Turnover of the Approved WSP has passed the Turnover Threshold). Example 6.2 An Approved WSP accepts a $50 fixed odds Multi-Event/Multi-Leg Bet for the Caulfield Cup into the Melbourne Cup. The Caulfield Cup leg is unsuccessful and the bet results in October. The Eligible Portion of the leg relating to the Caulfield Cup is included in the calculation of Assessable Turnover and Gross Revenue for the Caulfield Cup meeting and reported in the Daily File for the day after Caulfield Cup and in the Monthly File for October. In the October Payment Period, the Melbourne Cup portion of the Multi-Event/Multi-Leg Bet must be included in AMB for that Payment Period and will be levied at 3% of Assessable Turnover. Example 6.3 An Approved WSP accepts a $50 Multi-Event/Multi-Leg Bet for the Melbourne Cup (4/11/2014) into the Emirates Stakes (8/11/2014). Both legs are resulted in November. Regardless of whether the first leg fails, the first leg is successful and the second leg fails or both legs are successful, the EPMB and EPWMB in relation to these legs is to be included in the calculation of Assessable Turnover and Gross Revenue for each of these Race Meetings on their respective Event Dates. Example 6.4 An Approved WSP accepts a $100 Multi-Event/Multi-Leg Bet across the following events: Leg 1: AFL Grand Final Sport (September 2014) Leg 2: Caulfield Cup Victorian Race Meeting (October 2014) Leg 3: Melbourne Cup Victorian Race Meeting (November 2014) Leg 4: Golden Slipper NSW Race Meeting (April 2015) Racing Victoria Guide to the Provision of Information 2014/

12 The first three legs of the Multi-Event/Multi Leg Bet are successful and the bet does not result until April Two of the four legs of the bet are relevant to Victorian Racing. The Result Dates for the Victorian Racing legs are in April, (months after the relevant Event Dates). Accordingly, these legs of the bet will be included in AMB for the month of April Racing Victoria Guide to the Provision of Information 2014/

13 Attachment 1 Sample of Daily File Racing Victoria Guide to the Provision of Information 2014/

14 Attachment 2 Sample of Monthly File Racing Victoria Guide to the Provision of Information 2014/