TIME FOR CHANGE Posted November 30, 2018 Share Posted November 30, 2018 I'm told that you read this site so if possible can you assist me. I have grave concerns for Racing in NZ As you are the CEO of the NZRB which funds racing in NZ are you able to put me at ease..... Having raced horses for over 40 + years I have a feeling that Racing is in danger of being financially "screwed" Over the last couple of years you have borrowed millions to fund Stake money for the 3 codes. From my understanding this was to be funded with increase turnover from new avenues...ie Race Fields Legislation and the new Fixed Odds Platform. Race Fields was going to bring in a million plus per month, fixed odds platform has cost 40+ million and has yet to produce a single dollar and has been put back further and due to incompetence from you and your staff Australians can no longer bet with the NZTAB. Your weekly Turnover figures used to show comparisons from the previous years. You stopped this earlier this year which told me that they were to bad to publish. The pages would now be showing Red Red Red numbers. If turnover for both sport and racing continue their downward spiral do you think that, not only will you be unable to continue current payments to Codes that any debt repayment may be unable to be met. I hope that you can tell us the true figure of debt and when it needs to be repaid, the true cost of your new Fixed Odds Platform to date and the on going cost per year, the new date you "hope" to launch and the odds you are giving for this to happen, the true loss of turnover from not meeting with the Australian Government and ensuring that NZ was not part of their new Act restricting overseas betting agencies, the true betting comparisons year on year. As an owner I am only concerned with your turnover, cost of operating and end of year profit so please stop waffling on about how many new customers you have, how many tickets you have sold, how many have accessed your mobile website....... these means nothing. I look forward to your reply and thank you in advance. 5 3 Quote Link to comment Share on other sites More sharing options...
mardigras Posted November 30, 2018 Share Posted November 30, 2018 This isn't a new problem. He is just a continuation. I don't solely blame NZRB, the codes themselves are just as culpable - they have strongly supported the 'initiatives' that have led us here. It's very typical of local and national government as well, to have zero accountability. 3 Quote Link to comment Share on other sites More sharing options...
The Centaur Posted December 3, 2018 Share Posted December 3, 2018 (edited) I would like to propose that when (if ever) the so called FOB comes out that all punters boycott the medium. The reasons are. The $50m spent is not to promote racing but rather to fleece the punter. There is no way even now a regular punter can beat the bookies. So you think you are an exception Yeah right!!!.... you against $50m plus odds that are hugely against you compared to the tote. Bookies know who is close to various stables so even an owner can't get on in time before the odds are slashed, Trainers who want to get on early when the market is at 135% find that after scratchings the odds bear no relation to what they punted on. The whole role of TAB has changed. Its to offer as many betting options as possible whilst the TAB in the early days served the racing industry and clubs. Its a whole new ball game. The Paddy Power partnership is for them to supply the odds in real time so that its no longer possible to view overseas odds and compare to local. Traditionally the idea of bookies was to have competition whereby the punter could shop around. That incentive has gone. The FOB is merging with the tote concept in that the odds are constantly changing. FIXED is a misnomer. They are anything but fixed except for sports betting. Anyway the FOB is all about sports betting. Racing administrators were totally sucked in. Its all about greed. Fleece the punter rather than promote racing. Edited December 3, 2018 by The Centaur 1 Quote Link to comment Share on other sites More sharing options...
Mark D Posted December 3, 2018 Share Posted December 3, 2018 Well if they had had any brains (and we know they don't) they should have reduced the takeout on the tote and concentrated on that. 3 Quote Link to comment Share on other sites More sharing options...
mardigras Posted December 3, 2018 Share Posted December 3, 2018 6 minutes ago, Mark D said: Well if they had had any brains (and we know they don't) they should have reduced the takeout on the tote and concentrated on that. Exactly Mark. Sadly, that ship has departed. 1 Quote Link to comment Share on other sites More sharing options...
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