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Changes To Qld Off-Course Price Fluctuations

Thursday, 3rd February 2011

Racing Queensland announced that, after liaising with the Australian Prices Network, it has "decided to alter the manner in which it determines what bookmaker prices to send off racecourses in Queensland through the APN fluctuations system". RQ director of integrity operations Jamie Orchard said there has been "concern expressed for some time about inflated prices being offered for the purpose of influencing prices or dividends offered elsewhere (including 'top flucs' prices) with the possibility of Brisbane bookmakers taking advantage of those inflated prices. While RQ has itself identified examples that may give rise to a suspicion that prices are being manipulated, it is unlikely that sufficient evidence will be available to take any disciplinary action." Orchard noted: "While it is up to individual bookmakers to set their own markets, it is up to RQ to ensure that genuine prices are being sent off-course, so as to give off-course punters confidence in the published fluctuations & therefore greater confidence in wagering on Queensland races. RQ will not allow individuals' actions to put at risk punters' confidence in the Queensland product. Accordingly, in future, the prices sent off-course will be calculated by reference to major bookmakers, but to the exclusion of any bookmaker suspected of having been involved in improperly setting prices. Where only 2 bookmakers field, this may mean the prices set by 1 bookmaker will be sent off-course, regardless of whether that bookmaker is offering the best prices. Of course, betting supervisors will be particularly vigilant to ensure this approach operates effectively & the process will be kept under review."

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