William Hill "could vanish from racecourse rings within weeks if the firm concludes a deal to sell its on-course pitches," according to Greg Wood of the London GUARDIAN. An agreement "is understood to be close on a sale to a rival racecourse bookie," a move which "could bring into question the integrity of starting prices, which are derived from the on-course market." William Hill, who died in '71, was a "prominent racecourse bookmaker" for three decades from the mid-'30s before opening his first betting shop in the mid-'60s after off-course cash betting was legalized. The strength of the on-course market, however, "has declined sharply in recent years," due to competition from online betting in general and "the Betfair betting exchange in particular." If confirmed, William Hill’s sale of its on-course pitches, for a price believed to be around £2.5M ($3.2M), will be seen as "another indication of the racecourse ring’s increasing irrelevance in what is now a global market." The move will also raise concerns about the long-term future of the starting price system, which is based on data collected from racecourse betting rings (GUARDIAN, 10/21).
