Brian O'Connorsets the scene for next week's annual exodus to Galway and wonders whether the economic downturn will have a noticeable effect on attendances, punters and bookmakers.
IT MIGHT be apocryphal but the story is attaining mythical status just the same. It's of the woman staying within walking distance of the Ballybrit racetrack negotiating her way into Galway city for an hour in order to get on a helicopter for a five-minute flight back to the races.
The more charitable could put such behaviour down to a love of flight: others might see it as a perfect example of Celtic Tiger flash gone mad.
But with arguments raging over whether the economic tiger is currently just sleeping or is in fact corpsed in a corner, next week's Galway races focus will centre almost as much on what happens off the track as on it.
All the evidence of what we have seen so far in 2008 is that Irish racing's great cash-cow might not come up as creamy rich as years of continual growth have led us to expect. Statistics for the first half of the year indicate a radical drop in betting. Average attendances have also dropped significantly.
There are plenty of excuses for both. Betting online and with overseas phone bookmakers has changed the face of the gambling industry in Ireland. Increased prosperity has meant increased horse numbers which has resulted in the need for more races to run them in. And with a surfeit of racing, casual racegoers have voted with their feet.
But as always when things get tough, there are the season's major festivals to put a healthier glow on the figures. For attendance levels in particular, the likes of Punchestown in April and Listowel in September are crucial to the economic well-being of the sport.
So far in 2008, Punchestown has been the star performer. The introduction of a fifth day was an obvious help but still a crowd total of 105,669 over the week was a huge boost. But when it comes to festivals there's no doubt Galway is the Daddy.
Over €30 million will be bet at Ballybrit next week, which is about 15 per cent of the entire turnover for on-course betting in Ireland in 2008.
Attendance levels for the week will hit approximately 250,000 people, which equates to roughly five per cent of the country's population piling into a racecourse prepared to bet and drink like heroes. The 52,000 that crammed into the fourth day of 2005 remains a modern record in Ireland. In economic terms, Galway is crucial.
In terms of an industry's confidence and self-image it might even be more important.
Which brings us back to those helicopters. There has been no more potent sign of the boom times than the endless flights of choppers that buzz the infield at Galway throughout the seven days. At the busiest times, one lands every minute, delivering its passengers before hurriedly setting back to the city as if rogue SAMs are locked in on its tail.
Air traffic control officials from the nearby airport have had to be drafted in to maintain order. There will be a more than passing interest in how busy they will be this year.
"From what we hear on the street, quite a few builders have had to give up their helicopters so it might no be as much of a scene from MASH as it was before," says Brian Quinn, the manager of Fáilte Ireland West.
Significantly, though, he also reports there are no obvious signs of a slow down in tourist business for next week.
"Hotel room bookings are still very high. We're talking anything up to €450 for a room. And it's the market that is setting that rate. So there's no evidence of people jumping off the Galway races."
Similarly the racecourse authorities are reporting no big drop off in the all-important corporate market. The famous Fianna Fáil tent may have run its last race but filling space doesn't seem to be a problem.
"We're completely booked out on the Thursday and it's 90 per cent full already for Wednesday," said the Galway manager, John Moloney, during the week.
"At this stage the Thursday and Friday corporate stuff is also up on last year. And on Saturday and Sunday there's a different kind of crowd here anyway."
Moloney also makes the point that Galway race week is an entity in itself and often confounds any expectations or patterns from anywhere else on the racing scene.
It remains an annual meeting point for thousands of people and pre-festival hype makes it a must-visit event for many more.
Usually that manifests itself in mammoth betting figures. Single races that usually contain less than top-class horses can generate up to €750,000 with on-course bookmakers alone.
Galway gambles have become the stuff of legend. How many there will be next week is open to question.
"Galway every year has a hard act following what it did the previous year. But it keeps doing it. However, I don't expect any betting records to be broken this time," says one of Irish racing's most powerful on-course bookmakers, David Power.
"I think the economic situation has to have an impact. Not so much in terms of attendance levels. I think the crowds should hold up, okay. But they will probably be spending less. Everyone's average stake will be down."
That will confirm a trend that has grown over recent years which has seen much of the betting market taking place away from the racecourse, where people can sit comfortably in their front room, bet on their computers and have a multitude of betting options beamed to their houses by satellite.
Gambling generates an estimated €5 billion in Ireland, which is an almost five-fold increase since 2001. That was the year that the Horse Greyhound Fund was set up by the Government, a move that has proved instrumental in the remarkable levels of success Irish horses have enjoyed overseas this decade as well as providing unprecedented levels of prizemoney and infrastructural development at home.
The dilemma, however, is that higher levels of betting turnover in general have actually resulted in a lower tax take for racing and last year the Government had to augment the fund to the tune of almost €20 million.
With the fund due for renewal next year, racing's finances are likely to come under renewed focus as any economic problems deepen, especially with capital development funds due to be spent at 11 tracks this year, the Curragh's €100 million face-lift due to continue in 2009, and a totally new racetrack proposed for Tramore.
"The fund is as much concerned with breeding and the agricultural sector as it is with racing so it is about much more than one meeting at Galway," points out HRI's chief executive Brian Kavanagh who nevertheless doesn't attempt to play down the festival's significance.
"It is the flagship festival, especially for attendance figures. It might not be as important financially compared to when racing was totally dependant on the on-course betting levy. But it is fundamental to the Tote's year and most bookmakers will tell you they are set up for the year if they have a good Galway," Kavanagh says before refusing to join in with any pessimism about betting figures declining next week.
"I agree that bookies expect things to fall back slightly but the last few weeks have been better. Turnover was up at Ballinrobe and at Kilbeggan. Oaks day at the Curragh was also good. I would say it is too early to say there is a definite trend.
"There are a smaller number of big punters compared to last year and that can have a significant impact on turnover. My own view is that every year we say Galway can't top the previous year but it does. I wouldn't bet against it happening this time either," he added.
Certainly the famous racetrack is ready for the hordes that descend from all over the country and beyond and there are record prizemoney totals of over €2 million on offer.
Investment in the track itself has continued with the introduction of a new watering system that should prevent any extremes of going and there are record numbers of British entries enticed by the money that can be won.
And any economic doomsayers might just have their spirits lifted by a trip west of the Shannon, although everything comes at a price.
"Some of us are speculating that the traffic might be bad because all these developers won't be able to travel on the helicopters. They'll have to go back to the roads like the rest of us," laughs David Power.
"But then again, Galway would be the last place they'd want to be seen going bad so you never know!"
Sure enough even the news on the chopper front appears to be good. "Bookings are running way higher than last year apparently," reports John Moloney.
"So if anyone plans to come by helicopter, they'd better be booked!"
Galway Races Timeline
Racing began at Ballybrit in August of 1869. Forty thousand people turned up over two days and Eyre Square was turned into a campsite to cater for them. The Galway Plate was worth 100 sovereigns and was won by Absentee.
In 1971 the festival was extended to four days. Three years later it became five. In 1982 it became a six-day event and it was in 1999 that it became a full week.
The £6.5 million Millennium Stand was opened in 1999 and the €22 million Killanin Stand opened last year.
Next week's most valuable race is Wednesday's €240,000 William Hill Galway Plate.
Thursday's feature is the €220,000 Guinness Galway Hurdle.
2008 Statistics January - June
Total On-Course Bookmaker Betting- €82.7 million, down 13.9 per cent (€13.3 million).
Tote Betting- €25.7 million, down 1.1 per cent (€279,000).
Attendances- 602,761, up 0.3 per cent (1,743).
Average Attendance- 3,767, down 8.5 per cent, from 4,116.
Prizemoney- €27 million, up 6.6 per cent (€1.7 million).
