The Golden Slipper, as photographed by David Clarkson, is the world's richest 2YO race. The Golden Slipper raises more than half its $3.5 million prizemoney via nomination and acceptance fees. Is that fair? To me it's absurd to have to nominate yearlings for a race that is nine months away. Plenty of yearlings still haven't even been broken in, when the nominations are taken.

With the richest two-year-old race in the world, the Golden Slipper, less than a month away, let’s stand back and smell the roses and see where we are at.

Originally 1795 nominations were received for the race - and that figure in itself shows us what numbers of dreamers are within the ranks of owners and trainers in the sport, as that 1795 will become just 16 when the final field is announced. In fact it is my considered opinion that it is little short of “a rip-off” to want owners to pay out a nomination fee for a race eight months out from the race -it’s just ludicrous.

When first acceptances were taken for the race, 1028 of the original 1795 remained in the race, so somewhere along the way we lost 767 between nominations and first acceptances being taken.

Then when second acceptances were taken for the $3.5 million Golden Slipper some 245 youngsters were still left in the race, so between nomination time and second acceptances an incredible 1549 owners had tossed their toys out the cot – and have officially given up hope of winning the 2010 Golden Slipper.

Between now and the big race day, a further 230, or 93.50% of owners with a horse at second acceptance time, will not be seeing their champion go for a gallop around at Rosehill over 1200 metres on 3 April.

Of the 16 horses that will run in the Golden Slipper, it is very important to remember that it is possible that the winner has not even raced yet, so that is a point worth remembering for punters who want to bet this far out from the race. With the winners of certain races that are yet to be run being exempt from ballot for the Golden Slipper, there could well be another Vain or Luskin Star which hasn’t started yet.

The conditions of the Golden Slipper acceptances are such that whilst the horse is still a yearling it has to be initially entered for the Golden Slipper, which to me is ridiculous, as no one could possibly know if the horse can even run by that stage, as it would have not long been broken in - and the youngster wouldn’t even turn 2YO for another 24 days from the deadline date for first nominations, namely 7 July 2009 (for the 2010 Golden Slipper).

The “nomination fee” for this year’s race (due 7/7/09) was $350 including GST, so the 1795 original nominations for the race generate revenues for the Sydney Turf Club of $628,250 (1795 x $350). Then there was a “first acceptance” fee of $500, which includes GST, due by 6/10/09. The 1028 first acceptors paying that generated additional revenues of $514,000 (1028 x $500). Then there was a $1,000 “second acceptance” fee, inclusive of GST – and at that point, as outlined earlier, there are still 245 left in the race, so that generates revenues of another $245,000 (245 x $1000). Then there is the “final acceptance” fee of $30,000 which is due by Tuesday 30 March, for the 16 runners that make the field, so that generates another $480,000 (16 x $30,000).

Therefore I have determined that the following revenues have been generated for the 2010 Golden Slipper simply via nomination and acceptance fees.

Given that the race has total prizemoney of $3,500,000 (winner $2,000,000 – second $620,000 – third $310,000 – fourth $190,000 – fifth $130,000 and sixth to tenth inclusive receive $50,000 each), the race nominations and acceptances fees of $1,867,250 account for 53.25% of the total prizemoney – and that’s without even one “late nominations”, which can get a guernsey at $150,000 a pop – and I reckon there will be a few of them this year.

As they say “2YO’s are here today and gone tomorrow” – and that is so true, as one, or more, highly fancied youngsters may well go shin sore before the race, so that’s another point for early fixed odds punters to remember.

Additionally we have no idea this far out from the race what the prevailing weather and track conditions will be on the day, so anyone having a bet needs to know that their horse can handle any track surface from “fast” to “heavy”, but most punters don’t think that far ahead – and even if they do, they don’t know whether by its breeding, that a 2YO will, on the balance of probability, be able to handle a rain affected track.

So as at today, let’s look at the Unitab fixed odds market on the race to give us a bit of a guide and below is their current market.

During next week I’ll look at the main chances in the Golden Slipper a few weeks out from the race, to see where they sit in the general score of things.

Today myself and the Justracing camera along with the recording equipment are in Rockhampton at the meeting there, following a near 800-kilometre one way trip from Ipswich. Over the next few weeks there will hopefully be some interesting stories from the day.