NZB Maiden Series - limited entry?

[curious]

1 hour ago, Chief Stipe said:

What another Sweepstake bonus?  Are NZB paying bonuses now to maiden winners?

Yes.

Maiden series boost for Karaka Millions

Karaka Millions riches are set to be amplified next season, with horses eligible for the lucrative NZB Karaka Millions Series racing for an additional $1 million in bonuses.

 

LOVERACING.NZ News Desk | May 10, 2024

 

In an exciting new initiative, New Zealand Bloodstock (NZB) and New Zealand Thoroughbred Racing (NZTR), generously supported by Entain, have announced the Karaka Millions Mega Maiden Series, which will consist of $1 million in bonuses across 40 maiden races each season, for the next three years.

Comprised of 40 non-Saturday maiden races located throughout New Zealand, a $25,000 bonus will be struck if a Karaka Millions eligible horse, three years or older, wins. The winning owner will take home $20,000 and the successful trainer $5,000.

NZB Managing Director Andrew Seabrook said the sales company has been wanting to see more of its graduates reap the benefits of the Karaka Millions Series for some time.

“By hosting a $1 million maiden series over 40 races, that goal will be well and truly satisfied,” he said.

NZTR will determine which 40 maiden races will feature in the 24/25 season series, which will run from September to May of each racing year. The selected races will be announced next week with NZTR chief executive Bruce Sharrock pleased to see additional bonuses elevate the New Zealand racing product across the board.

“NZTR is proud to be working with NZB and Entain to bring an additional million dollars in bonus funding to benefit owners and trainers across the regions,” he said.

“Following on from other collaborations recently, this is yet another initiative to encourage people to breed, purchase and racehorses in New Zealand.”

In 2023 Entain partnered with NZB as naming sponsor of the TAB Karaka Millions Twilight Meeting, including the $1 million TAB Karaka Millions 2YO (1200m) and the $1.5m TAB Karaka Millions 3YO (1600m).

Entain’s additional support of the Karaka Millions Mega Maiden Series further strengthens that partnership and signals their confidence in the lucrative Karaka Millions Series.

“This is a great initiative that we envisage will boost field sizes across the country,” Entain Australia and New Zealand Managing Director – New Zealand, Cameron Rodger said.

“Having $25,000 worth of bonuses to chase in a maiden race will undoubtedly encourage Kiwi owners and trainers to keep striving for that maiden win. This series, as well as series like the Entain NZB Insurance Pearl Series, means there are more bonus opportunities for more horses in New Zealand than ever before.

https://www.nzb.co.nz/news/nzb-karaka-millions-maiden-series-races-announced

Edited August 30, 2024 by curious

[Chief Stipe]

1 hour ago, curious said:

Yes.

Maiden series boost for Karaka Millions

Karaka Millions riches are set to be amplified next season, with horses eligible for the lucrative NZB Karaka Millions Series racing for an additional $1 million in bonuses.

 

LOVERACING.NZ News Desk | May 10, 2024

 

In an exciting new initiative, New Zealand Bloodstock (NZB) and New Zealand Thoroughbred Racing (NZTR), generously supported by Entain, have announced the Karaka Millions Mega Maiden Series, which will consist of $1 million in bonuses across 40 maiden races each season, for the next three years.

Comprised of 40 non-Saturday maiden races located throughout New Zealand, a $25,000 bonus will be struck if a Karaka Millions eligible horse, three years or older, wins. The winning owner will take home $20,000 and the successful trainer $5,000.

NZB Managing Director Andrew Seabrook said the sales company has been wanting to see more of its graduates reap the benefits of the Karaka Millions Series for some time.

“By hosting a $1 million maiden series over 40 races, that goal will be well and truly satisfied,” he said.

NZTR will determine which 40 maiden races will feature in the 24/25 season series, which will run from September to May of each racing year. The selected races will be announced next week with NZTR chief executive Bruce Sharrock pleased to see additional bonuses elevate the New Zealand racing product across the board.

“NZTR is proud to be working with NZB and Entain to bring an additional million dollars in bonus funding to benefit owners and trainers across the regions,” he said.

“Following on from other collaborations recently, this is yet another initiative to encourage people to breed, purchase and racehorses in New Zealand.”

In 2023 Entain partnered with NZB as naming sponsor of the TAB Karaka Millions Twilight Meeting, including the $1 million TAB Karaka Millions 2YO (1200m) and the $1.5m TAB Karaka Millions 3YO (1600m).

Entain’s additional support of the Karaka Millions Mega Maiden Series further strengthens that partnership and signals their confidence in the lucrative Karaka Millions Series.

“This is a great initiative that we envisage will boost field sizes across the country,” Entain Australia and New Zealand Managing Director – New Zealand, Cameron Rodger said.

“Having $25,000 worth of bonuses to chase in a maiden race will undoubtedly encourage Kiwi owners and trainers to keep striving for that maiden win. This series, as well as series like the Entain NZB Insurance Pearl Series, means there are more bonus opportunities for more horses in New Zealand than ever before.

https://www.nzb.co.nz/news/nzb-karaka-millions-maiden-series-races-announced

How much are NZB putting in?

[curious]

1 minute ago, Chief Stipe said:

How much are NZB putting in?

Dunno.

[Chief Stipe]

So much for buying a yearling in OZ to improve the genetic diversity of the NZ bred.  Why don't they have bonuses for NZ Owners?  You know the people who fund the product?

[Murray Fish]

1 minute ago, Chief Stipe said:

So much for buying a yearling in OZ to improve the genetic diversity of the NZ bred.  Why don't they have bonuses for NZ Owners?  You know the people who fund the product?

I wonder if this sort of thing  contradicts re Closer Economic Relations (CER)  

[Doomed]

17 minutes ago, Chief Stipe said:

How much are NZB putting in?

Surely the more important question is how much is NZTR putting into a sales incentive series.

[Chief Stipe]

Just now, Doomed said:

Surely the more important question is how much is NZTR putting into a sales incentive series.

Agreed.  But if you know one you know the other A + B = C

[curious]

2 minutes ago, Doomed said:

Surely the more important question is how much is NZTR putting into a sales incentive series.

I think they are just providing the usual stakes funding and selecting the races. Bonus funding from NZB and Entain. No preference for entry for KM eligibles.

Edited August 30, 2024 by curious

[Doomed]

12 minutes ago, Chief Stipe said:

So much for buying a yearling in OZ to improve the genetic diversity of the NZ bred.  Why don't they have bonuses for NZ Owners?  You know the people who fund the product?

It does seem a little unfair that someone who goes along to a sale and buys a $5,000 horse is eligible, but someone who breeds a filly that might be worth $250,000 or more and decides to race it themselves in NZ isn't eligible.

[Doomed]

1 minute ago, curious said:

I think they are just providing the usual stakes funding and selecting the races. Bonus funding from NZB and Entain.

It is a bit of a lottery for the funders. I presume quite a few runners in each race won't be eligible for the bonus, so they will probably only have to pay out a part of the $1m.

[curious]

1 minute ago, Doomed said:

It is a bit of a lottery for the funders. I presume quite a few runners in each race won't be eligible for the bonus, so they will probably only have to pay out a part of the $1m.

Yep. Likely not a great cost and they could insure the risk if they don't want to take it.

[Freda]

8 minutes ago, Doomed said:

It does seem a little unfair that someone who goes along to a sale and buys a $5,000 horse is eligible, but someone who breeds a filly that might be worth $250,000 or more and decides to race it themselves in NZ isn't eligible.

Yes, I find that more than a shade biased.

[Chief Stipe]

8 minutes ago, Doomed said:

It does seem a little unfair that someone who goes along to a sale and buys a $5,000 horse is eligible, but someone who breeds a filly that might be worth $250,000 or more and decides to race it themselves in NZ isn't eligible.

A little unfair?  So is the promotion about NZB or promoting the New Zealand bred thoroughbred?  Arguably the industry was built on horses bred by owners and raced by them.

[Wingman]

The bonus is primarily aimed at the slower types and could set up some intriguing midweek betting races where a few of the large stables clash with their runners. The winners are those who purchased last year as it is for 3yo+. Should you buy at next years sales you will have one season of eligibility, 2026/7, although as Entain funding agreement is until 2027/8 maybe they will roll it out another year. So it encourages buying and betting but yes I agree, not the breeder who wants to retain and race. 

[Chief Stipe]

So can someone explain what the strategy is?  It seems to be throw money all over the place and hope something works.

[Huey]

1 hour ago, Chief Stipe said:

So can someone explain what the strategy is?  It seems to be throw money all over the place and hope something works.

Make breeders & Syndicators rich that is it right there!

[Wingman]

OK to put some substance around this consider firstly that Entain have contracted to put x millions into NZ racing over a 5 year period. No need for a rehash of the detail to date however my thinking is that in return, the amount so far being bet , is probably underwhelming them. What more can they do...enter this maiden bonus format which on the face of it should increase midweek turnover. What I do not get is why link this to only sales graduates and that has possibly been answered earlier as per below

2 hours ago, curious said:

t is a bit of a lottery for the funders. I presume quite a few runners in each race won't be eligible for the bonus, so they will probably only have to pay out a part of the $1m.

 Entain may also not have realised when bidding for the TAB business that NZ is not a carbon copy of the Australian market. There are limits as to what we can sustain here with regards to volume of racing and betting.

I cannot see an upside for them inside ten years but a 25 year contract, unbelievably dumb from a NZ racing perspective, gives them plenty of time to claw back, subject to their board wanting to keep throwing money at our Industry. Should they stay the distance then the reality is 50% of the profit after the first 5 years, for 20 long years, goes west . In that regard from a NZ racing enthusiast point of view, make the most of this decade, the short term looks great regardless of what Entain does.

[Chief Stipe]

1 hour ago, Huey said:

Make breeders & Syndicators rich that is it right there!

Only a select group of breeders?

[Chief Stipe]

46 minutes ago, Wingman said:

Should they stay the distance then the reality is 50% of the profit after the first 5 years, for 20 long years, goes west . In that regard from a NZ racing enthusiast point of view, make the most of this decade, the short term looks great regardless of what Entain does.

Isn't the number 5 as in 5 years?

[Wingman]

Not sure what you mean. Entain have paid money up front and committed to yearly distributions over a 5 year period. Then after that at the end of each season they split the profit 50/50 for a 20 year period. For NZ racing to be in a better position than they are in now (and for the next 3 seasons) they need, a) profits to rise significantly i.e. double, by 2028, or b) Entain board decides to cut its losses and pulls the plug on its NZ venture. 

[curious]

3 hours ago, Wingman said:

Not sure what you mean. Entain have paid money up front and committed to yearly distributions over a 5 year period. Then after that at the end of each season they split the profit 50/50 for a 20 year period. For NZ racing to be in a better position than they are in now (and for the next 3 seasons) they need, a) profits to rise significantly i.e. double, by 2028, or b) Entain board decides to cut its losses and pulls the plug on its NZ venture. 

Or c) profits stay the same or only slightly higher, Entain is satisfied to continue at that level for their 50% the next 20 years, and NZ racing's 50% becomes half the current Entain guaranteed amount?

That seems the most likely to me and they wouldn't need NZ racing product to do that, though of course would prefer and encourage it.

[Freda]

5 hours ago, curious said:

Or c) profits stay the same or only slightly higher, Entain is satisfied to continue at that level for their 50% the next 20 years, and NZ racing's 50% becomes half the current Entain guaranteed amount?

That seems the most likely to me and they wouldn't need NZ racing product to do that, though of course would prefer and encourage it.

I don't get that.

Why would Entain continue to throw money at NZ racing for 50% ?     Have we seen significant increases in TAB 'profit ' to date?

[curious]

57 minutes ago, Freda said:

 Have we seen significant increases in TAB 'profit ' to date?

I don't think we've seen any profit reports yet.

58 minutes ago, Freda said:

Why would Entain continue to throw money at NZ racing for 50% ?   

I assume they see that as part of the cost of acquiring the business for the following 20 years, as well as part of their strategy to attract new customers and build their business.

[Chief Stipe]

11 hours ago, Wingman said:

What more can they do...enter this maiden bonus format which on the face of it should increase midweek turnover.

How will it increase midweek turnover?  

[curious]

22 minutes ago, Chief Stipe said:

How will it increase midweek turnover?  

Presumably by providing competitive and attractive betting races each week. The races are all non-Saturday events.