Bartholomew's warning: “Punters are hard to get back”

One of Australia’s biggest professional punters, Kingsley Bartholomew, has called for urgent changes to the betting industry, revealing his turnover has dropped by 80 per cent as bookmakers increasingly restrict his ability to bet.

Bartholomew joined Gareth Hall on SENtrack and RSN’s Giddy Up on Wednesday morning live from the Backing the Punt conference, where he outlined his concerns about the current landscape for professional punters.

Bartholomew said he was attending the conference to provide a punter’s perspective on the challenges facing those who rely on betting as a profession.

“I want to get the punters point of view across and what the marketplace is like these days for professional punters,” Bartholomew said.

The professional punter revealed the scale of the impact restrictions have had on his betting activity, admitting his turnover has fallen dramatically over the past year.

“My turnover has dropped 80 percent, I was well over seven figures a week but it's dropped 80 percent from that because I simply can't get on,” he explained.

Bartholomew believes the issue extends well beyond professional punters, arguing that restrictions are also impacting recreational punters who invest significant time into studying Australian racing.

“It's a problem because it's not just me who can't get their bets down, it's the punters who love their racing and put a lot of time into the form who also can't get on and the people who may be small losers,” he continued.

Bartholomew also questioned the current taxation settings surrounding wagering, suggesting bookmakers are increasingly unable to accommodate punters who operate around break-even, warning that failing to address the issue could have consequences for the broader Australian racing industry, particularly if punters begin shifting their betting activity to international markets.

“Bookmakers can't even afford to have those punters who lose between 0-7% on turnover because the taxation is so big, so it needs to be looked at,” he said.

“I think it can change but I hope it doesn't change too late because punters are hard to get back.

“If someone is betting on Australian racing and then change over to US racing or overseas sport, you won't get them back betting on Australian racing.

“So we can't wait for it to happen, we need to be on the front foot.”

The rise of offshore wagering was another major topic discussed, with Bartholomew arguing the industry needs to look at why Australian punters are choosing to bet offshore.

“Why are we worried about offshore betting? We’re worried about it because we’re not offering what they can offer,” he said.

“People don't want to go offshore, they go offshore because they're not getting something here.”

Bartholomew also believes Australian racing needs to do more to attract younger audiences, particularly beyond the traditional carnival crowds.

While major racing carnivals continue to attract younger people, he questioned whether that interest is translating into a genuine connection with the sport itself.

“The younger generation do become more interested around carnival time, but are they interested in the actual racing or just to have a day out?”

For Bartholomew, improving the perception of betting and demonstrating that punters can approach the activity successfully is an important part of engaging a new generation.

“We need to engage the younger generation in racing and betting because the image of betting on racing has a bad image, it's always associated with problem gambling and we need to promote the fact that you can be successful and you can win.”

With professional punters facing increasingly restrictive betting conditions and offshore operators continuing to attract Australian customers, Bartholomew believes the industry needs to act before punters permanently take their betting elsewhere.