Horses being ridden by working riders throughout the Singapore Turf Club track session on May 15, 2014 in Singapore.
Neville Hopwood | Getty Images Sport | Getty’s paintings
After years of putting their faith and hard money in a spread of horses, seasoned bettors are about to place their final bets and bid farewell to Singapore’s only racecourse.
Singapore Golf Club announced on Monday that the ultimate race will happen in October 2024, closing a 180-year chapter of horse racing in the city-state.
“We’re saddened by the federal government’s decision to close the Club. At the identical time, we understand Singapore’s needs for land, including housing and other potential uses reminiscent of leisure and recreation” – Niam Chiang Meng, President of Turf Club said in a press release. It was also noted that the racecourse has seen a decline in personal attendance over the past decade.
Demand for housing in Singapore is growing rapidly Price of private residential properties in the primary quarter of 2023 index up 11% compared to same period last 12 months.
“Young people don’t bet on horses, they go to casinos now,” Jimmy, a 67-year-old avid horse racing player from Singapore, told CNBC, adding that the races are only held once per week on Saturdays and at 30-minute intervals.
A general view of the Kranji Racecourse paddock on May 25, 2019 in Singapore. The Singapore Turf Club on Monday announced it might hold its last race in October 2024, closing an 18-year chapter in horse racing.
Lo Chun Set | Getty Images Sport | Getty’s paintings
He suggested that such a frequency wouldn’t be fast enough for some players compared to the speed and convenience offered by casinos that operate 24/7.
Singapore’s only horse racing club was founded in 1842 and has a 30,000 seat grandstand. It operates in three locations, starting at Farrer Park, then Bukit Timah, then Kranji. The present racing club now occupies 120 hectares of land in Kranja.
And it was in these stands that Jimmy met his peers.
“After all I lost extra money than I won,” he laughed. But I made some good friends there.
When asked what his favorite steed was, Jimmy quipped, “If I say it out loud, he won’t win anymore!” referring to the betting superstition which suggests that sharing the horses you’ve got bet on will reduce your possibilities of winning.
Jockeys on horseback rush from the beginning of the Singapore Airlines International Cup race on the Singapore Turf Club on May 11, 2002.
Roslan Rahman | afp | Getty’s paintings
around 700 horses can be exported and more than 300 employees released in stages, according to a press release from the Ministry of Finance. Racehorse trainers and owners may also receive support for horse exports, the Ministry of Finance said.
Contractual obligations may also be honored for Singapore Turf Club tenants and livery horse owners. A livery stable is where horse owners pay for the maintenance of their horses.
Singaporean real estate agent Travis Low Jia Meng said he was saddened by the closure of the racecourse.
“It harkens back to our British roots. For those who have a look at Hong Kong, Australia and the UK, all of them have horse racing heritage,” Low said.
“But I understand what land area it occupied.”