Chief Stipe

What if Ted has a bad day and they are losers?

If you didn't give them a rebate where would they go?

Because we have SO MANY 3yr olds preparing for the Derby.....do we?

That's ludicrous because already cash starved clubs would be giving away revenue.

Not a stupid idea. But it would have to be set up with controls in place. Maybe Reefton acting as auditor etc. I can see the headline now - BOAY vs BGP - head to head.

That's the point that Mardigras is making. It will affect the club. The club benefits more if they lose as other punters are likely to bet more. On the tote most lose and a few win. Fixed odds - well if you beat the bookie then everyone loses except the winner. Also the assumption is that BGP keep turning over the total sum each race which they don't. Sure way to lose as Mardi points out. For example if they had $100k which they spent on the first race and lost. Their contribution to turnover would be $100k - their contribution to revenue around $17k. If they kept winning and betting $100k (assuming they pocket the profit) then their contribution to turnover for the day would be $1m however their contribution to revenue wouldn't be $170k because the difference has been made up by other's losses. This is assuming that they are betting entirely on the tote. Now if all the pool prize money is going to one big heap e.g. the BGP heap then all the other punters are running out of dosh so will probably punt less or stop altogether unless they have a kind wife who allows them to use the housekeeping money for the week. So yes BGP contribute to turnover but only to revenue if they lose. Have I got that right Mardi?

Therefore the clubs should encourage them via free facilities, entry etc. Seems a bit self defeating then to let them have rebates on their betting as ultimately the clubs pays for the loss of revenue.

I think that is irrelevant. Buyer beware and all that. I'm sure they have got good records in case they are challenged. The issue is - yes they are a bit of fresh year when it comes to enthusiasm but why the hell didn't the TAB come up with the concept? Afterall they have a mega mega millions in marketing budgets! I wouldn't like to see rebates offered for their betting however surely the NZRB marketing team can work with them to promote the racing code? If that is where their strategy is of course. From what I've heard it was difficult to get NZRB to even engage with them hence they set up an overseas account for betting.

Pray tell more!

Isn't the money collected BEFORE the event? I'm sure the TAB would accommodate the transfer of a large sum before the event. Surely that is no different to depositing a large sum on course when taking a bet? Do they turn up with a suitcase of $170k in notes?

That makes sense.

The fact is they aren't valuable unless others are losing. Tote betting negates that risk by adjusting the odds immediately. Fixed Odds betting has increased risk because the bets can be laid at set prices and would lead to reduced margins or even losses. Is that correct?

I would have thought that using an account would have been more transparent for all the members. Plus you could easily put the account up on a big screen to show the BGP's what was happening. I thought these bright young things would be into that. The TAB could easily adjust on-course figures accordingly if benefits the club.

No my understanding is that all programming is done centrally by NZTR. Is that not correct?

If that's the case then how can NZTR plan race programmes that optimise the availability of each grade of horse?

Well from all accounts if BGP get into FOB Sports Betting on the new platform the TAB will be paying them more to punt than they are punting! Actually thinking about it and this might be a dumb thought. Does Paddy Power offer rebates? Or do they just offer a competitive product? What if the new odds feed has a different margin to that which the NZ TAB have been operating to? Will that mean a drop in turnover and or revenue? Or are we tied to the market competitiveness of Paddy Power now rather than setting our own market?

I agree otherwise the market price is distorted further and I assume makes it even more uncompetitive for those that don't get the rebate.

Well that is taken off the club's that provide the venue for the party. Although I don't agree with rebates full stop wouldn't they qualify under the TAB's VIP rebate scheme?

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The original app cost well north of $2m!

No that was the lowly IT Manager. The big cheeses always find scapegoats. The IT Manager got several hospital passes.

One question should be "what was his previous experience in wagering?"

Aren't they all planning to move to the new mega track in Cambridge?

Why are you confused? According to NZTR - the Lindsay's own her.

Rule Number(s): 868(2)Mr Munro alleged that in race 2 Mr McNaught failed to take all reasonable and permissible measures to gain the best possible placing for THE POWER BROKER by failing to shift down and utilise the passing lane which was presented to him over the concluding stages. Rule 868(2) reads: Every horseman shall ... (Feed generated with FetchRSS)View the full article