Chapter 242 New Business: Horse Racing Ticket Agency
"Let's not talk about that. Brother Qibang, there is one more thing. It's like this..."

Wang Yuanchao wanted to cooperate with the Jockey Club to sell horse racing tickets. This was the highlight of the communication.

Horse racing tickets, also known as "horse tickets" by Hong Kong people, are a form of lottery that combined horse racing and lotteries held in Hong Kong in the early years. They were first issued by the Hong Kong Jockey Club in 1931.

Horse racing tickets can be divided into two types: big horse racing tickets and small lottery. The qualifying numbers are first generated by drawing lots, and then a horse is randomly assigned to each related number. Only some of the horses will compete in the designated horse racing ticket events.

The ticket corresponding to the winning horse of the race is the first prize ticket, and the second and third prize tickets are determined accordingly. The remaining shortlisted numbers will win cash prizes.

The first prize of the horse racing lottery that year was one million, the second prize was about 240,000, the third prize was 120,000, and there were about 100 shortlisted prizes, each of which was about 10,000.

There are three or four Malaysia tickets a year, including the autumn, spring and summer Malaysia tickets.

A small lottery is held once a month, with prizes ranging from tens of thousands.

Many women "started their own business" or worked part-time as horse racing girls. They held a stack of horse racing tickets and sold them in public places such as teahouses, restaurants, theaters, and in front of docks. Some also went door to door to sell tickets to various shops.

Malaysian tickets are often sold out before the game starts and are in great demand.

The manager of the lottery department is Zhou Qibang’s father, director Zhou Xinian.

Wang Yuanchao felt that this was such a waste.

Treat horse racing like ping-pong!
It could at least be held once a week, right? Otherwise it would be a disservice to horse racing!
Look at the gambling dens of all sizes on the streets of Hong Kong recently. With the heavy promotion from radio stations and newspapers, how much money are those gang members making?

The effect of the past "Hong Kong Week" was obviously not as good as expected. Many foreign businesses, fearing the situation, did not dare to come for the time being. It became a self-entertainment for Hong Kong people. What is the difference between it and the "Industry Fair" at the end of the year?
Sir Zhou, you still need another achievement!

He, Wang Yuanchao, came here just to make contributions.

He had been to Hong Kong in his previous life, so he had naturally experienced horse racing and buying tickets.

For example, single win, consecutive wins, triple color, single T, etc., there are many kinds.

Win (W): The horse wins on the spot;
Winning streak (Q): The first two horses to pass the finish line on the spot, no specific ranking is required;

Triple (T): The first three horses to finish at the finish line, but the correct ranking of the horses must be specified;
Single T: Select the first three horses that cross the finish line on the spot, without requiring a specific ranking.

There are many other ways to play. For each bet, a percentage of the total bet amount is taken according to the law, and the remaining balance is divided equally among the winners in proportion.

The dealer earns commissions, and the winners earn money from the losers. Unlike other casinos, when you lose your money, you lose it to the dealer.

It is because of this fairness that the Jockey Club does not care which horse wins the race, so Hong Kong horse racing has become the world's top event. If Wang Yuanchao remembers correctly, before he traveled through time, the total annual betting amount had exceeded 100 billion Hong Kong dollars. He does not know the exact amount, after all, he is not a professional player in this. Even if he remembers these data, they were shared with him by others when he visited Hong Kong.

The Jockey Club takes an 18% commission, and the remaining 82% is shared among the winning gamblers.

Of the 18% commission, 10% is paid as tax to the authorities, 8% is the Jockey Club's costs and profits, and most of the profits must be donated. As for how to donate, there are many places to donate, such as schools, parks, buildings, etc.

So much so that a Governor of Hong Kong once said that Hong Kong was governed by the Jockey Club, HSBC, Jardine Matheson and the Governor of Hong Kong, in a certain order.

When Wang Yuanchao went to experience it, the odds for each item could even be updated in real time according to the amount of the bet.

But now without computers, it is difficult to implement the winners making money from the losers. Statistics are a big problem!

However, difficult does not mean impossible.

It would be great if we could find some more manpower!
This money could obviously be earned by the government! It simply nourished those gang members, which made Wang Yuanchao feel distressed.

After the current race, the horses for the next race will be drawn on site and announced via television, radio and newspapers.

Then everyone goes to buy several types of rehearsals, with fewer regulations on the types of items. Those who buy horse tickets write copy A and copy B on the spot at each sales point. The buyer takes copy A and the sales point keeps copy B as a record.

After get off work every day, each sales outlet will aggregate the data to the Jockey Club headquarters through phone calls and in-person communication. On the day of the race, sales will be stopped and the results of the horse race will be announced.

The Jockey Club pays taxes to the authorities and earns handling fees, and the remaining prize pool is divided among the various prizes according to a determined ratio.

For example, in Wang Yuanchao's plan, the commission charged by the Jockey Club would certainly be more than 18%, and the tax collected by the authorities would certainly be more than 10%. Taking too big a step could easily lead to problems.

The Jockey Club takes a 40% commission, of which 15% is tax, 15-20% is costs and profits of the Jockey Club, and 5-10% is for the sales agent. All of this can be negotiated.

In addition, the odds for different types of horse lottery tickets, such as single win, will definitely be lower, and triple color will definitely be much higher.

Then, people who bought horse racing tickets can find out whether they have won or not, and how much money they can win for each ticket through television, radio, and newspapers. They can then go to collect their prizes with the ticket stubs in their hands.

This way, we can do it once a week!

Don't underestimate people's desire to get rich without working for anything!

Taxes in Hong Kong are very low, and the government is having a hard time selling land now. Would the authorities dislike the Jockey Club's tax payments?
Moreover, this will increase the attention paid to horse racing.

Especially now with the support of radio and newspapers, even if people have never been to Happy Valley Racecourse to watch the race, they will know all the horses very well, so it is the right time to launch a new type of horse racing ticket.

Horse racing tickets need some reform.

In other words, the Hong Kong authorities need more tax revenue.

Wang Yuanchao has bought many storefronts in various places. With a few minor changes, they don’t have to be in the best locations, and people who want to get rich will gather there on their own.

Wang Yuanchao only needs to collect a certain commission to pay for rent, personnel and management expenses.

He didn't expect to make a lot of money from horse racing.

If he made a lot of money, he would not be able to be a sales agent. But he had agents, firstly, he could support people, and secondly, he believed that the flow of people brought by the lottery was the best business!

Others would ask him to open a horse racing ticket sales point!

For example, his security team already has hundreds of people, and they only have to guard his own factories and companies. It's a waste of manpower, which makes people feel distressed!
If there is a lottery ticket agent sales point, each sales point must be guarded by three or five people, right? This is using other people's money to help support his team, and it is stable!
Wang Yuanchao looked down on gang members, but if he wanted to do business, he had to deal with both the black and white worlds.

The white ones are very weak at this time, and the black ones have the final say.

Now is a rare period of strict control, and gang members are hiding in casinos with their tails between their legs. It will be the 1970s and 1980s before they start fighting for territory like young and gangsters, huh.

The predecessor of Shenlan Electric Factory also had to pay protection fees to the community.

I think once the society is stable, those who collect protection fees will sooner or later show up. But by then, Deep Blue will be able to pull out a well-trained security team of hundreds of people. Whether the gang members can still collect protection fees and how much they can collect will all be discussed in detail at that time.

The tax burden of enterprises in Hong Kong is low, but the cost of protection fees cannot be saved. This is a unique culture in Hong Kong.

Nowadays, the annual sales of Hong Kong horse racing tickets are generally around 5 to 10 million, and 200% to 500% of the sales agents make around to million.

Individuals do not have to pay taxes on horse racing tickets, but company sales agents must also pay taxes, including property tax and capital gains tax, at a 15% tax rate. Add to that the complicated matters Wang Yuanchao just mentioned, and after deducting sales costs, not only will they not make much money, they will also have to compete with other big and small horse racing lottery agents for business.

After all, women have traditionally worked as part-time salespeople.

But after Wang Yuanchao explained it to him in detail, he immediately understood the great significance of this to his father and the Zhou family.

Without mentioning the big picture, the authorities need this so badly.

Anyway, the horses have to run. The frequency of the prize draw is indeed a bit low if it is held once a month. If the profit of the racecourse can be increased once a week, then my father's weight as a director of the racecourse will also increase greatly, which will increase the income of the Jockey Club, and that will be good for everyone.

This is of great significance to the consolidation of Zhou family's power.

Therefore, Zhou Qibang did not think much of the small amount of money such as commission. The main thing was that the Zhou family would gain huge benefits, so he said:

“I’ll push forward.

My dad, I'm afraid, really needs this credit.

But I will not participate in the sale of horse racing tickets, it is not appropriate."

Wang Yuanchao said:

"It's okay, just put on a few more shells and earn some pocket money."

Are you kidding me? How can you monopolize this kind of business? It may not be noticeable now, but it is hard to guarantee in the future, right? As the only two legal gambling sites in Hong Kong, the commissions in the future will be terrifying.

Even if we can't standardize mahjong, it would be great if we could standardize horse racing tickets.

If he doesn't pull the Zhou family, he has to pull other families! It's better to be familiar with it than to be raw.

Is that the commission he earns now?
Supporting people, abortions, real estate, which one doesn't involve the sound of money rustling?
For example, in addition to the biggest part of security, there will be sales points, intelligence bases, and news interview points in various regions, which will also be a great help to commercial radio stations and newspapers.

Moreover, as long as he can get cooperation, he will immediately buy the storefronts near the storefront. What business can't make money? It brings its own traffic.

Even if he doesn't do business himself, by renting out the houses to others, he can not only earn high rents, but also profit from the huge increase in house prices!

Horse racing tickets are legal lotteries in Hong Kong. Think about the prosperity of the lottery industry when the economy was in decline, and you will know that there is a lot of room for development here. The Hong Kong government also issues government lotteries, but the effect is average.

That is to say, Wang Yuanchao does not have the agency authority, otherwise, he would tell everyone how to play in minutes and promote the Hong Kong dream every day!

He must bring the Zhou family along, even if he has to create two more aliases.

"There is another thing. Commercial Radio wants to cooperate with the racecourse. We hope to interview the jockeys and horse owners on site and report the race in real time. We need your help to make the connection."

His newspaper and radio station need the right to conduct on-site interviews, and the two will definitely promote each other!

Zhou Qibang sighed:

"Sure enough, brother, you acquired Commercial Radio because you had an idea.

Before, everyone either came to watch horse racing in person or watched the live broadcast on Rediffusion Cable TV.

There were no interviews in the live broadcast of Rediffusion, and even the newspapers simply reported the results of the event.

When it comes to horse racing reporting, our Phoenix Daily is the most professional!
I read in the newspapers that some people saved money on horse racing tickets and went straight to bet on the horses!

If you do this, horse racing will probably become even more popular."

Excellent media communication can help promote the rapid growth of a piece of content.

Not only did horse racing become more popular, but newspapers and radio stations were also able to take advantage of the situation.

Yes, many more poor people will certainly read the newspapers, listen to the radio, study horse racing, and place bets.

Watching horse racing is not as exciting as betting on it. It is also good to bet more.

There have been frequent reports of people winning the lottery recently.

The economic situation is not good, and betting on horses and dogs is the hope for many ordinary people to turn things around.

(End of this chapter)