Working riders ride horses during the Singapore Jockey Club Track and Field Race in Singapore on May 15, 2014
After years of trust and cash investment in different horses, experienced gamblers will soon make their final bets and say goodbye to Singapore's only racecourse.
The Singapore Turf Club announced on Monday that it will hold its final race in October 2024, bringing to an end Singapore's 180-year-old horse race.
"We are saddened by the government's decision to close the club. At the same time, we understand Singapore's land needs, including other potential uses such as housing and recreation," Jockey Club Chairman Niam Chiang Meng said in a press release. It also noted that on-site attendance at racetracks has declined over the past decade.
Housing demand in Singapore has been soaring, driving the private residential property price index up 11% in the first quarter of 2023 compared to the same period last year.
"Young people don't bet on horses, they go to casinos now," Jimmy, a 67-year-old avid horse racing bettor from Singapore, told Tian Tian Cha, adding that horse races are only held once a week on Saturdays, with 30-minute intervals.
Panorama of the Kranji Racecourse paddock in Singapore on 25 May 2019.
He suggests that this frequency is not fast enough for some gamblers compared to the speed and convenience offered by casinos that operate 24/7.
Established in 1842 with a 30,000-seat stand, Singapore's only Jockey Club operates at three venues, starting at Farrer Park, then Bukit Timah, then Kranji. The current Jockey Club currently covers 120 hectares in Kranji.
It was in these stands that Jimmy met his peers.
"Of course I lose more money than I win," he laughs. "But I made some good friends there."
When asked which horse he liked best, Jimmy quipped, "If I say it out loud, it won't win!" Alludes to a betting superstition that sharing the horses you bet on will lower your chances of winning.
On 11 May 2002, at the Singapore Airlines International Cup Jockey Cup held by the Singapore Turf Club, jockeys rode out of the starting point
According to a press release from the Ministry of Finance, about 700 horses will be exported and more than 300 employees will be laid off in phases. Racehorse trainers and owners will also receive horse export support, the finance ministry said.
Singapore Jockey Club tenants and horse owners will also fulfill contractual obligations. A stable is where horse owners pay for their horses to be raised.
Travis Low Jia Meng, a Singapore-based real estate agent, said he was saddened by the closure of the racecourse.
"It's tied to our British roots. If you look at Hong Kong, Australia and the UK, they all have a tradition of horse racing," Liu said.
"But I understand the land space it occupies."