Bets at Aintree Grand National
In the early days of the Grand National, the biggest bets usually took place between wealthy rival owners. However, bookies that appeared on the English racecourse in the early 18th century were very much present at Aintree from the start. The national grand itself soon became very popular with on-course passengers, although it remained a relatively small gambling event compared to the Epsom Derby.
However, today tells a different story. Grand National earns at least six times the bet compared to Derby. The National, as a single sporting event, attracts the largest turnover of all major horse races, with an average of more than £ 250 million. The money at stake in the Grand National is only surpassed by the likes of money placed at collective events such as the World Cup, the Cheltenham Festival, and Glorious Goodwood Slot Online Terpercaya.
This might never have happened if it had not been for the formation of the Horserace Totalizator Board which operated a new pool system, better known as a Tote, or in disrespectful terms as Nanny. This allows passengers, for the first time, to have alternatives to bet against bookies. Under the new Tote system they can bet effectively with each other, with their bets placed in the pool, and with opportunities that continue to fluctuate in response to fixed betting patterns, resulting in a total amount that is finally shared between successful bettors.
Although betting grew illegally off the track, the Grand National became only the biggest betting event since 1961 and beyond. This was followed by the legalization of betting shops outside the course that grew dramatically as a result. Bets continued to grow despite the return of betting taxes, in 1987, which were limited to off-track betting shops. The betting tax was reintroduced in 2001 but by this time the money spent on betting on The Grand National in 1987 had doubled to more than £ 100 million.
Over the years the National has suffered many setbacks, not least from fear of bombing and the introduction of the National Lottery, which according to the committee cost 120 million pounds per year. However, despite this setback, the Grand National, according to the first winner, Lottery, continues to be a major money spinner, and continues to grow each year.
As with all other sporting events, Grand National used technology in 2000, when for the first time, passengers could place their bets over the internet. This allows them to take advantage of the tax free bets available from offshore operations. The success of internet betting continues to grow and in 2001 it was estimated that the overall profit generated by the bookies at the race was £ 20 million. This is mainly due to bets placed by bettors in more than 200 countries around the world.
Three enterprising internet bets offer to pay for the first five finishers that are unprecedented. Perhaps it was also because of the cancellation of so many other race meetings that year, because of the foot and mouth crisis, more passengers were interested in having one beat. In addition, for the first time, The Grand National was broadcast live on television in mainland China with around 200 million viewers. Some viewers can bet via the internet, but with bets still illegal in China, this reduces the amount that can be bet dramatically. In 2007 the Grand National was estimated to generate between £ 250 and 275 million for the day.
Pamela Mitchell has contributed to many sports betting sites and has written several ‘How To’ articles on Betting Today, bingo games and online casinos.