SINGAPORE,  30 March 2007

With effect from April 1, the Singapore Turf Club’s commission rate for exotic bets, namely Tierce, Trio, Quartet and Triple Trio, for all race meetings will be raised by two percentage points from 23% to 25%.

The Club said in a statement that “this measure will bring the Club’s commission in line with rates offered by other international horseracing operators for similar bet types, such as Hong Kong Jockey Club, South Africa Phumelela Gold Enterprises and Japan Racing Association.”

“Horseracing is a business that involves high costs. In order for the Club to meet these costs which include sustaining the present prize money levels which are one of the highest in the region, the Club must balance the costs with adequate revenue generated from the totalisator turnover. The increased commission will also fund existing and future measures to combat illegal tote betting and bookmaking more effectively,” the statement concluded.