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Chief, I appreciate that the odds need to be set right for fixed odds! However there is generally a 30% margin approx. in favour of the TAB and so how on earth can they not be making money?. The bigger the turnover the more they can make, just like Briscoes etc. they have big turnover and make a % profit on that. Far better to encourage spending and make % profit on big turnover than making larger yield on much lower turnover by putting punters off! If they want to have betting restrictions on punters then so be it, but have those betting restrictions on every punter in NZ, just corrupt to be singling out some! They take a bet and then slash odds so that it is not attractive for other punters, so lose turnover. At the end of the day, that is the way they think is best for them to operate, however we will wait and see if it is going to be beneficial for NZ racing! It wont be!! -
Noticed oncourse the other day the tote staff pushing fixed odds, telling me that they were better than tote odds at the time I was putting my bet on, others just done it without telling you, are they pushing the fixed odds more for some reason, last greymouth meeting was pleased to come out on right side for a change, my bet captain upham, was around 35s fixed an tote about 30sec before start time, took tote odds and ended 67s, when fixed closed at 40s, quite a few times I've been caught on the wrong side, don't understand how the comparisons are so different at times -
Certainly can say that I have no idea how the TAB used to operate with staff numbers etc. and do not know the day to day operations under Entain! However I do know that previously they had issues that needed addressing and this was selling out half the ownership for 25 years to An overseas gambling business Entain. Many thought this was going to be the saviour for the TAB with 900million being paid for the half share for the 25 years. This deal is very very short sighted in my opinion as once the $900m is wasted, what are we going to have for loss of half the profit? What I do know and it is probably the same with all gambling agencies worldwide is a business that has no scruples and acts and treats their customers with little ethics. Time is going to tell but unfortunately I believe that the NZ racing industry is in deep trouble, the TAB/Entain will be fine as they will survive off Sports Betting and online gambling in the years to come!
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By Chief Stipe · Posted
I don't know how many times I need to explain this to you. Yes under the Tote system the odds are always in the TAB's favour as they clip the ticket of every bet at a fixed rate. BUT with Fixed Odds they are just another punter in the market and theoretically they could lose money on every race if they didn't set their prices right. Yes they price the market in their favour but that doesn't guarantee they won't make a loss. -
By Chief Stipe · Posted
You assume that the jobs were real jobs. Cost efficiency only benefits the Industry. A shame this Government hasn't taken a bigger knife to slash the 15,000 extra Government employees employed under the last Government. The old TAB was run like a Government Agency and selling to ENTAIN was probably the only way to break that culture.
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