The Centaur Posted February 12, 2023 Share Posted February 12, 2023 With bonfires e.g. Labour's policy bonfire being seemingly popular now could be the time to dump the myriad of confusing bet types. Understanding betting has become impossible for someone new. Instead of employing marketing experts, graphic artists etc preaching to the converted by switching them from tote betting to bookies why not try to actually gain new customers. All the bet types are missing one vital piece of information. The market percentage rake off. When tote betting was introduced it was a legal requirement to show on track the pool size. The same legal requirement should exist for the fixed odds house percentage. Quote Link to comment Share on other sites More sharing options...
The Centaur Posted February 14, 2023 Author Share Posted February 14, 2023 Marketing all the different bet types and half witted promotions is probably why Mike Tod was put in by equally clueless TAB board. He was heralded this way "deeply customer-centric leader with extensive experience in key areas of focus for our organisation, including product and service innovation, marketing, brand and consumer engagement. His appointment and those areas of focus will allow us to drive further revenue growth for our racing and sporting stakeholders" Racing can no longer afford massive salaries paid to about 10 people atop the TAB gravy train. All salaries must be maxed out at $200,000 and scaled back from there. Many racetracks and horse farms probably have flood damage, participants are departing, there is a cost of living crises, a third world war about to start, climate change, COVID pandemic, supply problems... the list goes on. Put simply RACING CAN'T AFFORD THE SALARIES and no amount of hair brained schemes switching punters from tote to fixed odds will change things. 1 2 Quote Link to comment Share on other sites More sharing options...
Huey Posted February 15, 2023 Share Posted February 15, 2023 19 hours ago, The Centaur said: Marketing all the different bet types and half witted promotions is probably why Mike Tod was put in by equally clueless TAB board. He was heralded this way "deeply customer-centric leader with extensive experience in key areas of focus for our organisation, including product and service innovation, marketing, brand and consumer engagement. His appointment and those areas of focus will allow us to drive further revenue growth for our racing and sporting stakeholders" Racing can no longer afford massive salaries paid to about 10 people atop the TAB gravy train. All salaries must be maxed out at $200,000 and scaled back from there. Many racetracks and horse farms probably have flood damage, participants are departing, there is a cost of living crises, a third world war about to start, climate change, COVID pandemic, supply problems... the list goes on. Put simply RACING CAN'T AFFORD THE SALARIES and no amount of hair brained schemes switching punters from tote to fixed odds will change things. I think some of the hair brained Fixed Odds bets need the knive taken to them, but the tote bets are mostly worthwhile. Quote Link to comment Share on other sites More sharing options...
The Centaur Posted February 15, 2023 Author Share Posted February 15, 2023 (edited) 1 hour ago, Huey said: I think some of the hair brained Fixed Odds bets need the knive taken to them, but the tote bets are mostly worthwhile. true.. but the pick six for midweek gallops is missing. I still make the point that the TAB is creating far too many promotions often very hard to understand. A bonfire is needed. Another factor is... OVER-COMPLIANCE Any employee usually wants to do a good job. Therefore purely for own reasons they go overboard with compliance and are not interested in the wider picture. It happens in many other organisations not just TAB. On top of that you have higher management too gutless or inexperienced to reign in the behaviour. Edited February 15, 2023 by The Centaur 1 Quote Link to comment Share on other sites More sharing options...
Murray Fish Posted February 16, 2023 Share Posted February 16, 2023 On 15/02/2023 at 4:43 PM, Huey said: but the tote bets are mostly worthwhile. Pardon 🙄 25% take out on Q's,, way more on others? = Rip off! Mug Bet$ 1 Quote Link to comment Share on other sites More sharing options...
aquaman Posted February 16, 2023 Share Posted February 16, 2023 14 minutes ago, Murray Fish said: Pardon 🙄 25% take out on Q's,, way more on others? = Rip off! Mug Bet$ I think you will find the Q's are 25% only on NZ racing, about 21% if betting on an Aussie race. So the lesson here is to not bet on NZ races. 1 Quote Link to comment Share on other sites More sharing options...
Murray Fish Posted February 17, 2023 Share Posted February 17, 2023 6 hours ago, aquaman said: I think you will find the Q's are 25% only on NZ racing, about 21% if betting on an Aussie race. So the lesson here is to not bet on NZ races. 21% you are welcome to that. I use to run a game where the house got 20% (Alley Pool) and it was nearly embarrassing how much the house stole.. only the very elite players ever got ahead. Quote Link to comment Share on other sites More sharing options...
The Centaur Posted February 20, 2023 Author Share Posted February 20, 2023 On 17/02/2023 at 3:49 PM, Murray Fish said: 21% you are welcome to that. I use to run a game where the house got 20% (Alley Pool) and it was nearly embarrassing how much the house stole.. only the very elite players ever got ahead. I see some betting outfit has collapsed in Australia with millions of high roller funds down the drain. Article under a paywall. Perhaps someone has more info. 1 Quote Link to comment Share on other sites More sharing options...
Huey Posted February 20, 2023 Share Posted February 20, 2023 On 17/02/2023 at 10:12 AM, Murray Fish said: Pardon 🙄 25% take out on Q's,, way more on others? = Rip off! Mug Bet$ We talking Bet Types here , at the end of the day the take out rate is the take out rate. Yeah its exorbitant and the fools would do more for turnover and returns to the industry by reducing it but i still enjoy a good Quaddie or Treble over Horse A running in the Top 3 and Horse B winning and Horse finishing in the first 2, you can have those types of bets. Quote Link to comment Share on other sites More sharing options...
The Centaur Posted February 21, 2023 Author Share Posted February 21, 2023 9 hours ago, Huey said: We talking Bet Types here , at the end of the day the take out rate is the take out rate. Yeah its exorbitant and the fools would do more for turnover and returns to the industry by reducing it but i still enjoy a good Quaddie or Treble over Horse A running in the Top 3 and Horse B winning and Horse finishing in the first 2, you can have those types of bets. New Bet Types require more marketing resources. The point I make is that those assets should be employed to attract new players and not switching customers from one type to another. Furthermore betting has become far too complicated which is another turn off. Added to that over compliance is far more serious impediment than racing chiefs realize. There is one thing racing is good at and that is kicking own goals. Racing does not need bookmakers. Hong Kong is the envy of other racing jurisdictions and they get along fine without bookies. Furthermore racing clubs do not need the TAB. With new technology and media they can offer betting direct to the public without the middle man. Quote Link to comment Share on other sites More sharing options...
Huey Posted February 21, 2023 Share Posted February 21, 2023 5 hours ago, The Centaur said: New Bet Types require more marketing resources. The point I make is that those assets should be employed to attract new players and not switching customers from one type to another. - Quote Agree Furthermore betting has become far too complicated which is another turn off. Added to that over compliance is far more serious impediment than racing chiefs realize. Quote Nope they just don't bother educating punters anymore, store closures , apathetic staff and clueless management have all contributed. There is one thing racing is good at and that is kicking own goals. Quote No Arguement from me on that one. Racing does not need bookmakers. Hong Kong is the envy of other racing jurisdictions and they get along fine without bookies. Furthermore racing clubs do not need the TAB. With new technology and media they can offer betting direct to the public without the middle man. - Quote makes sense 1 Quote Link to comment Share on other sites More sharing options...
The Centaur Posted February 21, 2023 Author Share Posted February 21, 2023 If by chance the TAB undergoes some governance changes my suggestion would be... Split out the media resources into a separate standalone media company. Partner with an Australian wagering agency keeping a separation to NZ betting Partner with local organisations i.e NZTR, HRNZ, GRC & Sports concentrating on local content and allow for clubs to run their own pools. Quote Link to comment Share on other sites More sharing options...
Huey Posted February 22, 2023 Share Posted February 22, 2023 3 hours ago, The Centaur said: Partner with local organisations i.e NZTR, HRNZ, GRC & Sports concentrating on local content and allow for clubs to run their own pools. NZTR wouldn't know what to write if they couldn't write about TA, Marsh & Pike racing they'd be completely lost. Quote Link to comment Share on other sites More sharing options...
Murray Fish Posted February 22, 2023 Share Posted February 22, 2023 On 21/02/2023 at 7:10 AM, Huey said: We talking Bet Types here , at the end of the day the take out rate is the take out rate. Yeah its exorbitant and the fools would do more for turnover and returns to the industry by reducing it but i still enjoy a good Quaddie or Treble over Horse A running in the Top 3 and Horse B winning and Horse finishing in the first 2, you can have those types of bets. On a intellectual level should one really seperate that sort of thing! I Bet to make a profit! I watch races for enjoyment! Quote Link to comment Share on other sites More sharing options...
Murray Fish Posted February 22, 2023 Share Posted February 22, 2023 19 hours ago, Huey said: NZTR wouldn't know what to write if they couldn't write about TA, Marsh & Pike racing they'd be completely lost. a good example of being broader in scope is this page...https://www.facebook.com/profile.php?id=100031031482382 2 Quote Link to comment Share on other sites More sharing options...
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