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Yes but it's net to TABNZ without the operating expenses and by my estimates, in 2029, will be about 2/3 - 3/5 what the guaranteed payments are now, though still more than what their net was before the Entain deal, without the risk. -
i get that. i never said the nz tab was owned by nz racing. i can reasonably argue racings past association with the nz tab is the reason why racing currently get a cut of the sports betting money. Its not a spurios argument i make. Its real. -
google and AI,seems they don't agree. so you seem to be saying pre entain the nz tab paid the new zealnad sporting organisations their share from the tab's 100%,then after entain took over,the nz tab pay the nso's the same %,but from only a 50% share. so you appear to be saying the nz governmant negotiated a deal where sports betting would have to double for the tab to be making the same amount as it was pre entain. at least thats what it sounds like you are saying to me.
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One bloke in Darwin took bets from 1983 Chief. On-course only at races piggy backing 'Sports Betting' on the back of a licensed Bookmaker at the races. Took 10 years but finally in 1993 the Northern Territory government Legalised Sports betting away from the track. So 2 blokes sat in a office in Alice Springs with 2 telephones and a pen and paper , and took phone bets from Around Australia all day long lol , CENTREBET was off and running. By the turn of the century they (Centrebet) were turning over $300,000,000 per year . They sold out their 'small' business to a local competitor in 2003 for $47,000,000. You may ask why Alice Springs and Darwin ? because they Tax at half the rate of other states. Even to this day I believe. The revived 'Centrebet name' from other companies still trades out of the Northern Territory. Their are that many on-line betting companies these days it's crazy -
By Chief Stipe · Posted
Yes the TAB was originally set up for racing. That wasn't because there wasn't any sports betting occuring with the local pub bookie itwas because the main game in town was racing AND the administrators (the "old boy whales of the time") wanted to control the betting and create a monopoly. Sports betting was not approved in NZ until 1996 and again the NZ TAB was given the monopoly. Ironically Sports then faced the same problem that the new legislation is aiming to stop and that is the use of someone elses product to generate revenue. Sports betting didn't start in OZ until 1983 and that was on the back of the advent of the Packer driven Circus of One Day cricket. The OZ TAB was the only agency allowed to take bets - on football, cricket and boxing. Sportsbet was allowed to set up in 1996 and provided competition. The NZ TAB is not owned by NZ Racing. It has never been owned by Racing. It is a statutory entity that exists only because Government has allowed it to exist. The argument that NZ Racing built it up and funded it is spurious at best.
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