Brodie Posted January 18 Share Posted January 18 Brodie has always been totally against the AML limit by the NZ TAB being $1k, as it is pathetically low and stupid! Maybe I am reading it wrong and not understanding it, or is the NZ TAB not playing in terms of the regulations? I reckon it is about control! The amount for AML checking at a Casino is $6k currently so why is the TAB limit $1k? Well I reckon it is meant to be 10 times what it is currently if I am reading the “Anti-Money Laundering and Counter Financing of Terrorism Regulations 2011” version as at 31 July 2023! 15 (iii) clearly states”despite subparagraphs (i) and (ii), if the stored value instrument is a voucher issued by TAB, $10,000 or more, oris capable of being reloaded with $10,000or more in any consecutive 12 month period etc etc. Surely this means that the AML for the NZ TAB is currently $10,000 and not $1,000???????? That is the way it reads is it not??? Personally think the TAB is breaking the law! 1 Quote Link to comment Share on other sites More sharing options...
Chief Stipe Posted January 18 Share Posted January 18 What do you mean by the $1,000 limit? Is it just for anonymous punting I.e. over the counter and through a pub machine? Aren't there no limits thorough an account other than restrictions if you are a too successful punter? Quote Link to comment Share on other sites More sharing options...
Forbury Posted January 18 Share Posted January 18 9 hours ago, Brodie said: Brodie has always been totally against the AML limit by the NZ TAB being $1k, as it is pathetically low and stupid! Maybe I am reading it wrong and not understanding it, or is the NZ TAB not playing in terms of the regulations? I reckon it is about control! The amount for AML checking at a Casino is $6k currently so why is the TAB limit $1k? Well I reckon it is meant to be 10 times what it is currently if I am reading the “Anti-Money Laundering and Counter Financing of Terrorism Regulations 2011” version as at 31 July 2023! 15 (iii) clearly states”despite subparagraphs (i) and (ii), if the stored value instrument is a voucher issued by TAB, $10,000 or more, oris capable of being reloaded with $10,000or more in any consecutive 12 month period etc etc. Surely this means that the AML for the NZ TAB is currently $10,000 and not $1,000???????? That is the way it reads is it not??? Personally think the TAB is breaking the law! Who needs to bet big.there is plenty to be made.first race today Invercargill I backed la moth 14/1 I backed Matty 5/1 took both 1st and 2nd field third 1100 it paid.quinella 24.easy money brodie.your to caught up in what they have done to prevent you winning like you used to.use your skills to win in other ways.like when first four recently went to 157k jackpot.its all money for jam.its just bread and butter🤑😝 Quote Link to comment Share on other sites More sharing options...
Brodie Posted January 18 Author Share Posted January 18 45 minutes ago, Forbury said: Who needs to bet big.there is plenty to be made.first race today Invercargill I backed la moth 14/1 I backed Matty 5/1 took both 1st and 2nd field third 1100 it paid.quinella 24.easy money brodie.your to caught up in what they have done to prevent you winning like you used to.use your skills to win in other ways.like when first four recently went to 157k jackpot.its all money for jam.its just bread and butter🤑😝 No there is not plenty to be made Forbury with bet restrictions . The AML limit that I believe the TAB is currently breaking the law would mean you would be needing to identify yourself. You would be heavily restricted if you were winning over $1k regularly. Quote Link to comment Share on other sites More sharing options...
Brodie Posted January 18 Author Share Posted January 18 58 minutes ago, Chief Stipe said: What do you mean by the $1,000 limit? Is it just for anonymous punting I.e. over the counter and through a pub machine? Aren't there no limits thorough an account other than restrictions if you are a too successful punter? The TAB are using a limit for the Anti Money Laundering Act of $1k. They cited the DIA as putting this limit where if I am reading it correctly the limit for TAB vouchers is $10k. So currently if you collect over $1k you have to personally identify yourself and address! If you want to bet over $1k the same applies on the TAB’s law and yet it says $10k. It is just crazy as I have always maintained people that bet $2 and win $1k should have to identify themselves I can not fathom how this can actually be allowed to continue to happen when it is in black and white, is it not? Yes on account they know who is betting but the part of the Act that I have quoted is for betting Vouchers! Tab needs to come out and explain themselves ASAP! Quote Link to comment Share on other sites More sharing options...
Brodie Posted January 18 Author Share Posted January 18 (edited) Where in the AML Act does it say that $1k is the limit to be used by the NZ TAB? The Casino it appears to be $6k transactions! So what is the difference, far easier to launder at a Casino than wagering on a horse surely? Edited January 18 by Brodie Quote Link to comment Share on other sites More sharing options...
Chief Stipe Posted January 18 Share Posted January 18 10 minutes ago, Brodie said: The TAB are using a limit for the Anti Money Laundering Act of $1k. They cited the DIA as putting this limit where if I am reading it correctly the limit for TAB vouchers is $10k. So currently if you collect over $1k you have to personally identify yourself and address! If you want to bet over $1k the same applies on the TAB’s law and yet it says $10k. It is just crazy as I have always maintained people that bet $2 and win $1k should have to identify themselves I can not fathom how this can actually be allowed to continue to happen when it is in black and white, is it not? Yes on account they know who is betting but the part of the Act that I have quoted is for betting Vouchers! Tab needs to come out and explain themselves ASAP! Isn't the problem obvious? You could go around 10 pubs in Auckland and pump $1,000 into each machine and effectively launder $10,000 everyday. Your problem is you don't want them to know how much you collect. Quote Link to comment Share on other sites More sharing options...
Chief Stipe Posted January 18 Share Posted January 18 2 minutes ago, Brodie said: Where in the AML Act does it say that $1k is the limit to be used by the NZ TAB? I think it is a bit more complex than that as their are also DIA gambling harm minimisation regulations. There are signs up in pubs now that if you attempt to withdraw more than x or more than x times you will be refused or restricted. Quote Link to comment Share on other sites More sharing options...
Chief Stipe Posted January 18 Share Posted January 18 Pubs don't tend to carry the amount of cash you are looking for @Brodie. Quote Link to comment Share on other sites More sharing options...
Brodie Posted January 18 Author Share Posted January 18 5 minutes ago, Chief Stipe said: Isn't the problem obvious? You could go around 10 pubs in Auckland and pump $1,000 into each machine and effectively launder $10,000 everyday. Your problem is you don't want them to know how much you collect. Of course I dont want them to know how much I collect! They dont want anyone winning, if you do then they want to stop you! Gambling agency that only want losing punters, but surely if they are in that industry then they have to take the good with the bad? Quote Link to comment Share on other sites More sharing options...
Brodie Posted January 18 Author Share Posted January 18 (edited) 8 minutes ago, Chief Stipe said: I think it is a bit more complex than that as their are also DIA gambling harm minimisation regulations. There are signs up in pubs now that if you attempt to withdraw more than x or more than x times you will be refused or restricted. The TAB dont give a rats about harm from gambling, even though they may advertise the fact! The fact that they stop winning punters tells us all that all they want is losing punters and more the better! Edited January 18 by Brodie Quote Link to comment Share on other sites More sharing options...
Brodie Posted January 18 Author Share Posted January 18 4 minutes ago, Chief Stipe said: Pubs don't tend to carry the amount of cash you are looking for @Brodie. Correct Chief, very difficult to find anywhere now, just like the Banks have restrictions as to how much you can get! Control everywhere and not for the better either. Quote Link to comment Share on other sites More sharing options...
Chief Stipe Posted January 18 Share Posted January 18 1 minute ago, Brodie said: The TAB dont give a rats about harm from gambling, even though they may advertise the fact! The fact that they stop winning punters tells us all that sll they want is losing punters and more the better! Do you have evidence on the $20 restriction? Are you sure the missus hasn't put some limits on your account? 3 Quote Link to comment Share on other sites More sharing options...
Chief Stipe Posted January 18 Share Posted January 18 2 minutes ago, Brodie said: Correct Chief, very difficult to find anywhere now, just like the Banks have restrictions as to how much you can get! Control everywhere and not for the better either. Yes we'll thats another theory going round. A cashless society will close all the money laundering and tax leakage holes. No more railway sleepers for cash. 1 Quote Link to comment Share on other sites More sharing options...
paleface adios Posted January 18 Share Posted January 18 15 minutes ago, Brodie said: Of course I dont want them to know how much I collect! you dont bet anymore thats what you tell us Quote Link to comment Share on other sites More sharing options...
Chief Stipe Posted January 18 Share Posted January 18 I can see @Brodie being driven around in a big black Caddilac with tinted windows from TAB outlet to TAB outlet. With his runners going in and putting on $999 bets. I can see a TV series being started. 2 Quote Link to comment Share on other sites More sharing options...
Brodie Posted January 18 Author Share Posted January 18 12 minutes ago, paleface adios said: you dont bet anymore thats what you tell us Do you work for the TAB or DIA, Paleface? 1 Quote Link to comment Share on other sites More sharing options...
Brodie Posted January 18 Author Share Posted January 18 1 minute ago, Chief Stipe said: I can see @Brodie being driven around in a big black Caddilac with tinted windows from TAB outlet to TAB outlet. With his runners going in and putting on $999 bets. I can see a TV series being started. It is just not about Brodie. It is about everyone else that is being segregated and disadvantaged! Punters should be all treated equally, with none getting preferential treatment and others being screwed! Quote Link to comment Share on other sites More sharing options...
Chief Stipe Posted January 18 Share Posted January 18 13 minutes ago, Brodie said: Punters should be all treated equally, with none getting preferential treatment and others being screwed! Then you disagree with @the galah and his views on turnover? 1 1 Quote Link to comment Share on other sites More sharing options...
Brodie Posted January 18 Author Share Posted January 18 10 minutes ago, Chief Stipe said: Then you disagree with @the galah and his views on turnover? The TAB is a betting agency and as such they put up odds that punters can take or leave! The fact that the TAB take bets from the punters they want to bet with them, and not others is blatantly wrong! I am sure if it was taken to Court then the TAB would certainly lose. You are not allowed to show bias or prejudice against anyone nowadays, just because they have written it in their rules, does not mean it is legally or morally right!! 1 Quote Link to comment Share on other sites More sharing options...
Gammalite Posted January 18 Share Posted January 18 1 hour ago, Brodie said: The TAB dont give a rats about harm from gambling, even though they may advertise the fact! The fact that they stop winning punters tells us all that all they want is losing punters and more the better! Well they try to set odds to keep the number regular. At TAB (or casino) the Ratio of winners to losers is One in Ten. The TAB and the casino like to see a bloke leave a winner , as long as 9 that lose, leave at the same time . That bloke VERY Likely to return in future. (and possibly join the group of 9 that lose) If for example the ratio is 5 winners to 5 losers constantly , they'll make nothing and no point running the shit-shows. so yes you're right a large group of losing punters is important . Most BOAY folk here like you,me Galah, Walt and others 'follow the form' somewhat accurately and are a chance of winning every 2nd raceday really being somewhat expert on the topic..(compared to the 1 in 10 wins that is the goal of the TAB/casino from mug pub punters and gambling addicts like the mugged pokie players and that ) and the amounts being spent is incredible. Not allowing single Huge bets is normal ?? you need Casino and TAB players to be having whole series of bets/punts gambles. I don't even remember ever being able to get more than $1000 on with a bookmaker on-course ever. Limits Have always been in place, a good thing for both Parties really .. to save Heavy Losses ..... think a very measured approach like Forb's mentioned above in this thread is the way to go . 1 2 Quote Link to comment Share on other sites More sharing options...
Brodie Posted January 19 Author Share Posted January 19 4 hours ago, Gammalite said: Well they try to set odds to keep the number regular. At TAB (or casino) the Ratio of winners to losers is One in Ten. The TAB and the casino like to see a bloke leave a winner , as long as 9 that lose, leave at the same time . That bloke VERY Likely to return in future. (and possibly join the group of 9 that lose) If for example the ratio is 5 winners to 5 losers constantly , they'll make nothing and no point running the shit-shows. so yes you're right a large group of losing punters is important . Most BOAY folk here like you,me Galah, Walt and others 'follow the form' somewhat accurately and are a chance of winning every 2nd raceday really being somewhat expert on the topic..(compared to the 1 in 10 wins that is the goal of the TAB/casino from mug pub punters and gambling addicts like the mugged pokie players and that ) and the amounts being spent is incredible. Not allowing single Huge bets is normal ?? you need Casino and TAB players to be having whole series of bets/punts gambles. I don't even remember ever being able to get more than $1000 on with a bookmaker on-course ever. Limits Have always been in place, a good thing for both Parties really .. to save Heavy Losses ..... think a very measured approach like Forb's mentioned above in this thread is the way to go . Gamma, so you think that being limited to being able to net $20 on a Top 4 bet is fair? They wont let restricted Punters wager $1k! Clearly seems Brodie is correct that the AML limit for punters should be $10k and not the $1k, as no one has come on and said that Brodie is wrong? Why has the TAB persisted with this $1k limit for betting voucher wins, when the AML Act appears to be saying it is $10k? Can anyone advise me where it is written that it is $1k? Quote Link to comment Share on other sites More sharing options...
Nowornever Posted January 19 Share Posted January 19 7 hours ago, Brodie said: Why has the TAB persisted with this $1k limit for betting voucher wins It is in their best interest to do so. They can keep track of sneaky punters who try to win more than they should. Quote Link to comment Share on other sites More sharing options...
Brodie Posted January 19 Author Share Posted January 19 12 hours ago, Nowornever said: It is in their best interest to do so. They can keep track of sneaky punters who try to win more than they should. So they are in effect breaking the law! Quote Link to comment Share on other sites More sharing options...
Rangatira Posted January 20 Share Posted January 20 On 19/01/2024 at 8:22 AM, Brodie said: Tab needs to come out and explain themselves ASAP! Do you know if they read your posts ? Quote Link to comment Share on other sites More sharing options...
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