Freda Posted October 21, 2018 Posted October 21, 2018 What happens to unclaimed TAB/tote winnings ? Quote
Turny Posted October 21, 2018 Posted October 21, 2018 Bonus for John Allen and the premier leadership team 1 Quote
hesi Posted October 21, 2018 Posted October 21, 2018 13 minutes ago, Freda said: What happens to unclaimed TAB/tote winnings ? 2 Quote
hesi Posted October 21, 2018 Posted October 21, 2018 It will be somewhere in the NZRB Annual Report. I'll have a look tomorrow, if Curious does not beat me to it Quote
Newmarket Posted October 21, 2018 Posted October 21, 2018 4 hours ago, Freda said: What happens to unclaimed TAB/tote winnings ? I assume the TAB keep any unclaimed winnings. Just like quads, pick 6 etc, that nobody pick, so never get paid out. They must make a heap from the quads that are not fully 100% selected, one reason i do not take many of these bets Quote
hesi Posted October 21, 2018 Posted October 21, 2018 11 hours ago, hesi said: It will be somewhere in the NZRB Annual Report. I'll have a look tomorrow, if Curious does not beat me to it From the Annual report, Financial Statement Notes Dividends payable on betting and gaming operations are recognised once the event has resulted, at the fair value of the consideration to be paid. Any unclaimed dividends on totalisator and fixed odds revenue are recognised as unpaid dividends within other financial liabilities. Dividends paid on gaming turnover represents payouts to customers from the gaming machines, including jackpot payouts. Quote
Freda Posted October 21, 2018 Author Posted October 21, 2018 Thanks, hesi....but I think I could already work out that unclaimed dividends were unpaid dividends. So where do they go? if put against 'liabilities' they would disappear without trace.... Quote
curious Posted October 21, 2018 Posted October 21, 2018 13 minutes ago, Freda said: Thanks, hesi....but I think I could already work out that unclaimed dividends were unpaid dividends. So where do they go? if put against 'liabilities' they would disappear without trace.... It appears they are just added to gross revenue from betting i.e. gross bets minus dividends + unpaid dividends. 1 Quote
Tonkatime! Posted October 21, 2018 Posted October 21, 2018 34 minutes ago, Freda said: Thanks, hesi....but I think I could already work out that unclaimed dividends were unpaid dividends. So where do they go? if put against 'liabilities' they would disappear without trace.... They would be a liability until the point they are no longer a liability (the time when the ticket expired). I guess when they are entered in they would go against dividends paid/ winnings paid out and unclaimed dividends/ winnings. Then when the time expires they would be reversed as you need to take the liability out of the balance sheet. If that makes sense? Quote
Chief Stipe Posted October 21, 2018 Posted October 21, 2018 Would unpaid dividends actually be a lot? What is the percentage of bets that are done through tickets rather than online? If online obviously they go against the bettor's account until they withdraw it. Quote
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.