{"id":886,"date":"2022-09-28T03:45:28","date_gmt":"2022-09-28T03:45:28","guid":{"rendered":"https:\/\/bfhubprod.wpengine.com\/hub\/?p=886"},"modified":"2024-08-21T16:54:13","modified_gmt":"2024-08-21T06:54:13","slug":"course-bookies-anthony-doughty","status":"publish","type":"post","link":"https:\/\/www.betfair.com.au\/hub\/education\/punter-insights\/course-bookies-anthony-doughty\/","title":{"rendered":"MEET ANTHONY DOUGHTY"},"content":{"rendered":"
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Bookmaker Anthony Doughty can be a hard man to pin down, given that he\u2019s at the races almost every day. Around 230 times last year.<\/p>\n

We make contact via the phone, now one of the tools of his trade, on various occasions through late June. We speak at some length as he drives to Ballarat on a Thursday where he\u2019ll be just one of maybe half a dozen (bookies) there.\u00a0Times have changed.<\/strong><\/p>\n

He\u2019s cordial of course but initially there\u2019s almost this sense that he\u2019s thinking\u2026.\u2019what do you want to know? I haven\u2019t got much to tell.\u201d<\/p>\n

Nothing could be further from the truth. He\u2019s got plenty to tell, drawing on more than 40 years\u2019 experience as a bookmaker. He\u2019s much more engaging than, perhaps, he thinks he is.<\/p>\n

He tells sharp, amusing anecdotes which inform, entertain and quickly get to the point. Offers the odd pearl of wisdom.<\/p>\n

In medieval times, I fancy he\u2019d have been some mix of soothsayer, mathematician, magician, story teller and wise man.<\/p>\n\n <\/div>\n <\/div>\n \n \n \n \n \n \n \n

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THE TOUGH, EARLY DAYS<\/h2>\n <\/div>\n <\/div>\n \n \n \n \n \n
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He remembers his first day fielding. It was at Sale in Gippsland with Doughty betting on the Melbourne races only as\u00a0you\u2019d had to earn the right to bet on the \u2018locals\u2019<\/strong>\u00a0as well.<\/p>\n

\u201cI was excited. Virtually the whole family was there\u2026my mother, my grandmother. But I had a losing day. There was a very popular Gippsland horse called Brandy Balloon who was a prolific winner. The whole town wanted to back him and, of course, he won at Sandown,\u2019 he said.<\/p>\n

Things didn\u2019t take an immediate turn for the better. \u201cThe following week I was on the other side of the state at Casterton and lost again. Did $200 on the hurdle just for a start.\u201d<\/p>\n

To put that in perspective, he\u2019d been earning $60 a week as a clerk for a finance company before securing his licence at 21. \u201cYou couldn\u2019t get a licence before 21. I had a full time job and worked Saturday and Saturday night and Monday and Thursday night for other bookies to save up enough to become a bookmaker in my own right,\u201d he said.<\/p>\n

He might have been questioning the wisdom of this decision after another early and unsuccessful trek to the races. This time it was Hanging Rock on New Year\u2019s Day. \u201cI was betting on Flemington. Roy Higgins rode five or six winners and every favourite won.\u00a0I ran out of money and had to pack up and leave before the last.<\/strong>\u00a0Dad drove and I was laying on the back seat of the car wondering what on earth I was doing,\u2019 he said.<\/p>\n

I couldn\u2019t believe it. I thought it was amazing. The noise, the colour \u2013 to me it was like a stage show.<\/p><\/blockquote>\n

Indirectly, it was dad (Les) who\u2019d set him on this path after introducing his son to a bookmaker after Anthony had insisted, following his first trip to the races, that he wanted a part-time job with a bookmaker.<\/p>\n

\u201cI was probably 16 and a friend of dad\u2019s took me to Moonee Valley. Saw Crisp win the Hiskens (Steeplechase) and I was hooked from that day onwards. I couldn\u2019t believe it. I thought it was amazing. The noise, the colour \u2013 to me it was like a stage show. People all dressed up and money being thrown around and the crowd roaring for Crisp from the school,\u2019 he said.<\/p>\n

It might have been 1969 or 1970 as the legendary Crisp won the Hiskens in each of those years. It might have also been a shock for father Les. \u201cDad was in the rag trade and an honorary judge of Fashions on the Field but that was about it, for him, when it came to racing. I think I even had to leave the room when the races came on, on World Of Sport on a Sunday,\u2019 he said. The young man from Glenroy was well and truly smitten.<\/p>\n

Doughty concedes he struggled in the \u2018first year or so\u2019 of his bookmaking career. \u201cThe country (meetings) didn\u2019t prove to be quite as easy as the city where I\u2019d worked for others,\u2019 he said.<\/p>\n

A suspension came in 2015. \u201cI was guilty of taking bets outside the bounds of my licence. It was my laziness. I could have applied to work from home\u2026 which I since have.\u201d he said.<\/p>\n

But he persevered and continues to do so despite the on-course shrinkage. \u201cThere might be 20 people in the ring today\u2026I hope,\u2019 he said of the midweek Ballarat fixture, \u2018once upon a time they\u2019d be ten deep and sixty of seventy bookies operating. I remember 45 or 50 bookies at the dogs on a Monday night.\u201d<\/p>\n\n <\/div>\n <\/div>\n \n \n \n

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\u201cI STILL ENJOY THE CHALLENGE\u201d<\/h2>\n <\/div>\n <\/div>\n \n \n \n \n \n
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So, what changed and why does he still go?<\/p>\n

\u201cI still enjoy the challenge and going to the races keeps me focused and disciplined. I don\u2019t have to be there as these days we are permitted to work from home on the phone but better to be in the action and tuned in. I\u2019d probably just be going to lunch otherwise,\u2019 says Doughty who works, on average, at four to five meetings per week.<\/p>\n

\u201cThese days only 10% of my hold would come from on-track but the irony is that, now, there\u2019s probably more people than ever before watching the races, from all parts of the globe, even from a track like Ballarat,\u2019 he said.<\/p>\n

Doughty has always been an \u2018opinion\u2019 bookmakers who does the form. \u201cI love it. It\u2019s like sorting out a giant jigsaw puzzle every day. I do plenty of form but not so much to find the winner, that\u2019s the punter\u2019s job. I\u2019m doing the form to frame a market and finds what\u2019s over and undervalued.<\/p>\n

\u201cYou\u2019re dealing with so many other factors on both sides of the fence. Emotion, greed, stupidity, desperation and panic. It\u2019s always volatile because of people\u2019s behaviour. The important thing is keep the emotion out of it as much as you can.<\/p>\n

\u201cOverall, yes I\u2019d say bookmaking\u2019s been kind to me because I put the work in; not because I\u2019m particularly clever. Input equal results,\u2019 he said.<\/p>\n

He also sees the value in having the right clients. \u201cBad debts themselves are not a problem as bookie\u2019s say, it\u2019s the size of them. Nobody wants a client who gets themselves into great financial difficulties,\u2019 he said.<\/p>\n

I recently found a copy of The Age from 1989 where I was quoted saying \u2018one day nobody will come\u2019. I didn\u2019t want to be right but I was.<\/p><\/blockquote>\n\n <\/div>\n <\/div>\n \n \n \n

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BETFAIR AND THE ON COURSE BOOKIE<\/h2>\n <\/div>\n <\/div>\n \n \n \n \n \n
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Doughty says the advent of corporate bookmakers and Betfair have both been positive for the industry.<\/p>\n

\u201cThe corporates highlighted the advantages of the fixed odds product which is what bookies like me have offered all our lives but without great recognition. Even the TAB offers fixed odds now.<\/p>\n

\u201cBetfair has been the most dramatic change in my time in the business. It is now the central market place and has harnessed a huge number of people together, many of whom would have once been in the racetrack market-place.<\/p>\n

\u201cThe introduction of seven days a week racing and the advent of Sky Channel spelled doom for on-course activity. Now we simply have to accept the reality of dwindling crowds. I recently found a copy of The Age from 1989 where I was quoted saying \u2018one day nobody will come\u2019. I didn\u2019t want to be right but I was.<\/p>\n

\u201cYou had to go to the races in the old days. No television, no internet and no phone betting but the world has changed. The punter can stay at home and probably learn more about what\u2019s going than being at the races.<\/p>\n

\u201cNow the hive of activity is Betfair. I suppose it\u2019s the technological market place. I still want to go to the races, make my own assessments and trade accordingly. Buying long, selling short. We\u2019re buying and selling money based on the outcome of a race. We are, in essence, turning over money and not people. There\u2019s liquidity now via Betfair that allows me to hold a decent bet that allows me to arbitrage.<\/p>\n

Doughty has seen it all, well quite a lot anyhow and hopes he\/we haven\u2019t seen the last of bookmakers.<\/p>\n

There is some element of lament that, once, 80% of turnover was on track and that, nowadays, having an on-course \u2018spot\u2019 on the rails is not the big deal it once was. He\u2019s also somewhat bemused that the so-called official prices now take no account of the on-course bookie\u2019s prices. \u201cBasically they\u2019re an average of the corporates\u2019 prices,\u2019 he said.<\/p>\n

But he maintains there\u2019s a place for the on-course bookmaker based on his own business motto: \u201cService should be expected not hoped for.\u201d<\/p>\n

And his last word \u2013 perhaps more appropriate than ever in the era of Betfair. \u201cThe key to successful trading is not to maximise your profits, it is to minimise your losses.\u201d<\/p>\n\n <\/div>\n <\/div>\n \n \n \n \n \n \n \n

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On-course Bookie Anthony Doughty has been in the racing game longer than most. Hear his story in our latest Customer Insights piece on the Betfair Hub.<\/p>\n","protected":false},"author":33,"featured_media":46748,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"tipster_notification_checkbox":false,"send_notification":false,"footnotes":""},"categories":[43],"tags":[],"brand":[],"class_list":["post-886","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-punter-insights"],"acf":[],"yoast_head":"\nMeet Anthony Doughty | Betfair Punter Insights | Betfair Hub<\/title>\n<meta name=\"description\" content=\"On Course Bookie Antohny Doughty has been in the racing game longer than most. 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