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Thoroughbred Racing forum discussion.
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No. The example i used was the punter was breaking even with their betting and the rebates were the profit they used to justify the time they spent betting. I'll give you an example that related to myself that i have used previously to illustrate the point i make.. When covid hit and nz harness was temporarily suspended and the job i was doing was not paying as well due to covid,,i thought well i need to generate some more income from betting so i thought why not expand into doing it on queensland harness racing,who at the time were still racing through covid. so i spent 3 months analysing the queensland form every harness race run in queensland.then started betting. The plan was to generate a profit in the betting or at the very least break even and get rebates.So i decided to do that for myself and had 2 accounts and contacted the tab and said,how much do i have to spend to get rebates. They said over $90,000 in 12 months. I said so if i do that in a couple of mionths you will give me rebates. They said yes. So i did. it took me 3 months to reach the $90,000 level on each account,about $1000 a day spent on queensalnd harness on 2 different accounts($2000 a day total). well the profit i had hoped for from the betting was not as good as i hoped,it was only around 2%profit, but i thought once i get the otherr 2%from the rebates it would make it worthwhile. so what happened. I rung up the tab and said to them,when are you going to put me on the elite punter rebate thing like you promised and they said maybe next time when they look at who new they invite into the elite punters thing. Well when i still got nothing the following month and was still spending my $1000 a day on both accounts($2000) on queensland harness racing i rung them up again. There response was words to the effect,go away,we aren't interested in you as an elite customer even though you have reached the spend threshold to qualify. also the % rebate for betting in australia i had been told by the nz tab would not have been as high as betting on nz racing. But anyway i said to them,,if i were to qualify for the rebates it would make it worthwhile for me to spend the time i do on betting on queensland,but if i don't it won't. i said that to them,wouldn't it make sense for you to give me the rebates you promised of about $400 on each account per omth and you keep receiving the few thousand amonth in take ou %.The take out % would have been about $12,000 per moth for them,but i don't know for sure how the aussie and nz tab broke down who got what of that. Anyways they rung me back and said,words to the effect we don't care . so what did i do,of course i stopped betting. so for the sake of paying me about $800 a month like they promised,they lost out $12,000 in profit. the moral of my story is people who bet,especially who bet larger amounts than i used to,factor in the rebates into how much they spend in total and very obviously how much it effects their profit/ loss figure. thats why i call people who work at the tab and make the ddecisions like they are on rebates dumb. they seem to want to treat every customer the same,where as in reality every customer is unique and has their own betting habits. A clever business would factor that in and operate in a way that generates the most profit for that business,a dumb business would do what entain and the tab before them have been doing. like i have also said of others and just how much the recent dcsions will impact turnover from the punters i know. the only logical explanation for the sheer stupidity of it all is maybe there is different departments/divisions(whatever the word may be) within the tab where you get people getting bonuses based on their department. And those in one department only care about the bottom line for their department because thats what effects their bonuses and couldn't care less about the overall bottom line of the business. -
By Wandering Eyes · Posted
He’s been inundated with messages from people around the world after helping save Sunday’s Group One Hong Kong Cup (2,000m) at Sha Tin, but Chris McMullen has deflected praise for his role in the incident. Images and video of the Jockey Club’s assistant starter stepping in to tackle a protester who ran onto the track as the Cup field turned for home went viral on social media, with McMullen drawing praise for his quick thinking. The Cup, won by champion galloper Romantic Warrior for a...View the full article -
You are right, they continue to make very poor decisions and are not in the best interests of racing in NZ! As I mentioned many times Entain is not interested too much in racing but that doesnt give HRNZ any excuse for the poor business decisions that have been made! Is there anyone that actually has confidence in HRNZ in their decision making and if so why? We can take it that no one has, if we get no support for them! -
haven't you just said they are making dumb decisions,without actually using the word dumb.
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