Jump to content
NOTICE TO BOAY'ers: Major Update Coming ×
Bit Of A Yarn
  1. Gallops

    1. Galloping Chat

      Thoroughbred Racing forum discussion.

      67.8k
      posts
    2. Galloping BOAY TV

      Videos from around the world

      27
      posts
    3. Gallops Punting Selections

      Thoroughbred race punting selections from Guest Selectors.  BOAY'ers post your selections for a meeting and earn BOAY points.  End of Season Prizes.

      26
      posts
    4. 268
      posts
    5. 17
      posts
  2. Trots

    1. 54.9k
      posts
    2. Harness Punting Selections

      Harness racing punting selections from Guest Selectors.  BOAY'ers post your selections for a meeting and earn BOAY points.  End of Season Prizes.

      73
      posts
    3. 5
      posts
      • No posts here yet
  3. Dogs

    1. 8.6k
      posts
    2. 8
      posts
    3. 52
      posts
  4. Racing News

    1. RIU

      1.6k
      posts
    2. JCA

      1.7k
      posts
    3. 36.4k
      posts
    4. 1.6k
      posts
    5. 5.6k
      posts
    6. 2.2k
      posts
    7. 73.4k
      posts
    8. 15
      posts
  5. Politics

    1. 1.6k
      posts
  6. Covid-19 Yarn

    1. 2.1k
      posts
  7. Sports

    1. 139
      posts
    2. 17
      posts
    3. 154
      posts
  8. General Yarn

    1. 239
      posts
    2. 17
      posts
    3. 2.1k
      posts
  • Blog Entries

         15 comments
      Today we have seen the only remaining truly independent racing industry publication "hang the bridle on the wall."  The Informant has ceased to publish.
      Why?
      In my opinion the blame lies firmly at the feet of the NZRB.  Over the next few days BOAY will be asking some very pertinent questions to those in charge.
      For example:
      How much is the NZRB funded Best Bets costing the industry?  Does it make a profit?  What is its circulation?  800?  Or more?  Does the Best Bets pay for its form feeds?  Was The Informant given the same deal?
      How much does the industry fund the NZ Racing Desk for its banal follow the corporate line journalism?
      Why were the "manager's at the door" when Dennis Ryan was talking to Peter Early?
      Where are the NZ TAB turnover figures?
      The Informant may be gone for the moment but the industry must continue to ask the hard questions.
       
         0 comments
      Duplicate to remove spam.
  • Upcoming Events

    No upcoming events found


  • Posts

    • 5 of the 6 are central districts tracks. Foxton should have been considered to be back racing before Waipukurau.
    • I'm sorry to say but you are wrong.  Under the AML/CFT legislation financial institutions, casinos, and other businesses identified as potentially vulnerable to money laundering and terrorist financing are considered reporting entities and have obligations to comply with AML/CFT regulations.  These organisations have rule based software systems that create data files that are regularly exchanged with the DIA.  There is no way with the TABNZ/ENTAIN turnover that they are not exchanging data.  Activities that trigger compliance obligations are known as "captured activities" and have been identified by the DIA as potentially exposing businesses to the risk of money laundering and terrorist financing.  Prescribed Transactions: Certain transactions, such as international wire transfers of $1,000 or more and physical cash transactions of $10,000 or more, are considered "prescribed transactions" and must be reported to the DIA.  Data Exchange: The DIA requires reporting entities to exchange data related to these transactions and activities, including customer identification data, transaction details, and any information that could assist in identifying or preventing money laundering or terrorist financing. 
    • Seriously @westbrew what major sport doesn't have a National Organisation in NZ?  You are talking loose change that gets reallocated. No that's factually incorrect on a number of points.  Racing does NOT own the TAB nor the platform "the totalisator".  TABNZ is a statutory entity essentially owned by the Government of NZ on behalf of all New Zealanders.  It has a Governance Board that does comprise members from each of the codes (will be interesting to see the legislation changes to get ride GRNZ). Fixed odds wagering on Sports in NZ is "owned" by TABNZ.  It is the only NZ entity that is legislated to provide that service.    Under the Racing Act TABNZ is obliged to distribute wagering revenue to sports through National Sporting Organisations.  Check out Sections 78 and 79 of the Racing Act. 78Sports betting rules (1) TAB NZ may make, amend, and revoke rules providing for the establishment of a system (or systems) of sports betting, and providing for any matter relating to the conduct and operation of sports betting by TAB NZ. (2) Without limiting subsection (1), the rules— (a) may state the kinds of betting that may be undertaken; and (b) may state the circumstances in which— (i) a bet may be refunded, and when it may be retained by TAB NZ; or (ii) any fixed-odds bets may be laid off on other betting systems by TAB NZ for the purpose of limiting TAB NZ’s exposure on any particular event or events; or (iii) TAB NZ may cancel any bet; and (c) must state the amounts described in section 84(2). (3) TAB NZ must consult Sport and Recreation New Zealand before making, amending, or revoking any rules under subsection (1). (4) However, subsection (3) does not apply if TAB NZ and Sport and Recreation New Zealand agree otherwise in any particular case. (5) Rules under this section are secondary legislation (see Part 3 of the Legislation Act 2019 for publication requirements).   79Agreements with New Zealand national sporting organisations (1) TAB NZ may not conduct sports betting on any sporting event or events without the written agreement of the appropriate New Zealand national sporting organisation. (2) An agreement entered into under subsection (1) must be on the terms and conditions that are agreed between TAB NZ and the New Zealand national sporting organisation concerned, including payment to the sporting organisation, under section 82(1)(e), of revenue derived from sports betting on the event or events to which the agreement relates.  
    • Leaders in the United States and Canada have indicated they will honor the existing United States-Mexico-Canada Agreement for some goods, including Thoroughbreds. Horses will continue to cross the U.S.-Canada border duty-free.View the full article
    • Trainer John Toscano Jr. died April 3 in a Long Island, N.Y., hospital, according to Daily Racing Form. He was 80.View the full article
    • That is the point chief, Racing is getting the profit ie the unallocated money??? Now that is apparently happening because they owned a thing called the totalisator in the early 1900s, that was then computerised and racing was given all the income generated by the Totalisator agency board to shut out the bookies. Now that has continued since the TAB was set up in the early 50s. Racing no doubt still own the Tote they invented it and still own it, but as far as fixed odds wagering on sport, that isn't owned by TAB, so the reason racing is getting the profit from sports betting is just because they always have. Now with the 50/50 Entain deal in play if a foreign bookmaker can get 50% of the profit what is to stop each sport including racing just getting its own share of the other 50%???? 
    • Chief i very much doubt there is data exchange between regulators and tab in NZ. There maybe occasional audits, but there is no way that FMA RBNZ or DIA are getting any data from Entain. When you read risk based approach, that is code for do what you want we are asleep at the wheel over here. Entain may send STRs to the police and are required to answer any incoming requests from IRD or Police, but there is no effective way for a regulator to monitor weather in fact Entain are doing the due diligence required of them outside of an audit, thus you are relying on the culture of the organisation, and the TAB has gone from a state controlled entity, to a branch of a Corporate bookmaker based in Australia so is the culture of compliance the same????? 
    • It was a percentage of turnover on the respective sport and that sport needed to have a National Organisation in order to receive the revenue.  As far as I know Racing didn't directly get any of that money except that which wasn't allocated.  Of course there was a contribution to overheads from Sport.
    • Other Kennels should have plenty of time, there is a working group in Wellington according to Peters who are due to report back to the minister next month, so four months after the ban the Wellington crowd are still having meeting after meeting after meeting, so there is a window of opportunity to get their operations relocated across the Tasman.
×
×
  • Create New...