Hesi Posted May 23, 2020 Share Posted May 23, 2020 I've recently validated my ID, so I can use my account online. As a complete novice, I have found all the features quite good, once Pete pointed out how to use a few things, but a couple of questions 1. Okay they spent 40 mil on it, and it costs them 17 mil a year. That seems excessive to me, especially the 17 mil, but do the fixed odds prices automatically update, must do surely, too much attending to, with so many options available. If that is the case, surely you would only spend that sort of money, if it was obviously going to increase net betting revenue, but more importantly, allow you to reduce your costs, through reducing manual intervention. You would expect to see, at least 17 mil disappear from your fixed costs. If you have this incredibly complicated computer programme, that cost a whole lot of money, then isn't that the whole point 2. Secondly, you read about people having their accounts suspended, because they are winning too much, which must be on fixed odds. Can they not offer to account holders, the option of just having access to tote betting, or taking it a step further fixed odd betting for sports and tote only for racing. That would be relatively easy to sort, looking at the way the whole platform is set up Quote Link to comment Share on other sites More sharing options...
curious Posted May 23, 2020 Share Posted May 23, 2020 They'll restrict your account for sports betting too. Quote Link to comment Share on other sites More sharing options...
mardigras Posted May 23, 2020 Share Posted May 23, 2020 I think they can restrict you on fixed odds and allow you access to tote, so I expect they already have the ability to restrict a punter to tote only. The issue for a punter taking fixed versus tote, is that the punter can identify what they consider to be an 'error' in the fixed price. But by the time the race starts, the tote prices won't reflect that 'error'. Couple that with poor takeout rates on the tote and what have become ever decreasing pool sizes, a punter is somewhat limited into what bet they can take. To get the tote back as a viable option, it needs to be more attractive that the alternative (pricing etc). Reversing the trend would not be a short term exercise, and the damage may be beyond recovery now. 1 Quote Link to comment Share on other sites More sharing options...
Hesi Posted May 23, 2020 Author Share Posted May 23, 2020 17 minutes ago, mardigras said: I think they can restrict you on fixed odds and allow you access to tote, so I expect they already have the ability to restrict a punter to tote only. The issue for a punter taking fixed versus tote, is that the punter can identify what they consider to be an 'error' in the fixed price. But by the time the race starts, the tote prices won't reflect that 'error'. Couple that with poor takeout rates on the tote and what have become ever decreasing pool sizes, a punter is somewhat limited into what bet they can take. To get the tote back as a viable option, it needs to be more attractive that the alternative (pricing etc). Reversing the trend would not be a short term exercise, and the damage may be beyond recovery now. The net betting margin is 12.1%. Do you know what the figures are for tote, fixed racing and fixed sport Quote Link to comment Share on other sites More sharing options...
mardigras Posted May 23, 2020 Share Posted May 23, 2020 1 minute ago, Hesi said: The net betting margin is 12.1%. Do you know what the figures are for tote, fixed racing and fixed sport I've had the figures from prior years, but not for recent ones. Tote was around 20.1% (gross) though slowly reducing to around 19.6% from memory. Margin on sports/racing fixed is variable. So one year to the next it can change a bit. I think they've had margins around the 3% for some segments in some years. In 2007, the percentage of betting done on NZ racing/tote compared to all turnover, was from memory, around 60% of all turnover (Around $900m tote/NZ racing - again from memory as I did an OIA back then which I can't find). Back then, sports and FO was under $200m annual turnover across all jurisdictions/sports. In 2018, NZ racing tote was under $440m, 16% of the total turnover done. So in 11 years, they had bastardised the tote, lost interest in NZ racing itself, and gained nothing in money distributed from sports and racing revenues. Except now, massively more revenue was coming from non-NZ racing related sources. 1 Quote Link to comment Share on other sites More sharing options...
Hesi Posted May 23, 2020 Author Share Posted May 23, 2020 So from 18/19 report Tote 887 mil FO Racing 740 Sports 633 If you assume tote 20%, sports 3%, then you can work out racing FO is 10.4% I can understand the rationale behind fixed for sports, as it is the only way to get a slice of the action, but what was the rationale behind fixed for racing Quote Link to comment Share on other sites More sharing options...
mardigras Posted May 23, 2020 Share Posted May 23, 2020 6 minutes ago, Hesi said: So from 18/19 report Tote 887 mil FO Racing 740 Sports 633 If you assume tote 20%, sports 3%, then you can work out racing FO is 10.4% I can understand the rationale behind fixed for sports, as it is the only way to get a slice of the action, but what was the rationale behind fixed for racing Punter choice I guess. There isn't an issue offering fixed odds for me. It's about who is carrying the risks and the costs. In NZ, the government/industry is wearing both the risks and the costs. In Victoria for example, the government isn't wearing any risk, and the industry is wearing a slight risk from TABCORP alone (due to the joint venture side of the arrangement). But is wearing no risk from the corporate bookies side. Quote Link to comment Share on other sites More sharing options...
JustPlodded Posted May 30, 2020 Share Posted May 30, 2020 They say that betting on the TAB is down... well a whole lot... I sat down after lunch and saw that Doomben R1 was soon to start. It is one of PJ’s comp races so I thought I would take a look and place a bet. I know , it is my fault, I am using this strange device that perhaps the TAB have not heard of.. an iPad. Probably not very poplar. I click on the TAB app icon and hope... Title bar appears but then a total white screen below. I do a full reset of the iPad and start again. No change. I run Chrome browser instead and go to the TAB site. Yeah it appears and lets me log in. I select the horse I had singled out and pressed the Win button. It just shows a spinning arrow and no bet it placed... I gave up. And they are surprised betting is well down? Quote Link to comment Share on other sites More sharing options...
pete Posted May 30, 2020 Share Posted May 30, 2020 23 minutes ago, JustPlodded said: They say that betting on the TAB is down... well a whole lot... I sat down after lunch and saw that Doomben R1 was soon to start. It is one of PJ’s comp races so I thought I would take a look and place a bet. I know , it is my fault, I am using this strange device that perhaps the TAB have not heard of.. an iPad. Probably not very poplar. I click on the TAB app icon and hope... Title bar appears but then a total white screen below. I do a full reset of the iPad and start again. No change. I run Chrome browser instead and go to the TAB site. Yeah it appears and lets me log in. I select the horse I had singled out and pressed the Win button. It just shows a spinning arrow and no bet it placed... I gave up. And they are surprised betting is well down? Did it win Geoff? 1 Quote Link to comment Share on other sites More sharing options...
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