NZ TAB Winsurance - how stupid?

[mardigras]

So the TAB offers insurance on win bets for your horse placing etc.

So take for example Sanibel in R6 today. Odds are listed as 31s and 6s

If you take insurance to run top 3, you get odds of 23s. If you take insurance to run top 2, you get odds of 26s.

Yet you can take a bet on that horse at those available fixed odds that if it won, you could get effective odds of 26.5 and if it placed top 3, you'd actually make money, not just get your money back. 

That's more than what they are offering on your horse to win (or run 2nd for money back), and about 15% higher than their offer for running top 3. And that's not betting elsewhere, that's betting direct with NZ TAB at their own standard fixed odds.

Insane.

[PWJ]

1 hour ago, mardigras said:

So the TAB offers insurance on win bets for your horse placing etc.

So take for example Sanibel in R6 today. Odds are listed as 31s and 6s

If you take insurance to run top 3, you get odds of 23s. If you take insurance to run top 2, you get odds of 26s.

Yet you can take a bet on that horse at those available fixed odds that if it won, you could get effective odds of 26.5 and if it placed top 3, you'd actually make money, not just get your money back. 

That's more than what they are offering on your horse to win (or run 2nd for money back), and about 15% higher than their offer for running top 3. And that's not betting elsewhere, that's betting direct with NZ TAB at their own standard fixed odds.

Insane.

This just shows Mardy that these people at the NZ TAB have no fu*king idea what they are doing. You have just explained in simple terms in less than a minute why this is crazy but no one sitting around the table when this was mooted had the brains and the common sense that this was a dog.

[PWJ]

Of course not allowing Kiwi-expats like me and thousands of others to bet on the NZ TAB was another genius idea - yeah right !

[Turny]

On 2/12/2021 at 1:33 PM, PWJ said:

Of course not allowing Kiwi-expats like me and thousands of others to bet on the NZ TAB was another genius idea - yeah right !

Agree PJ, the dumbest decision they have made just ridiculous 

[curious]

On 2/12/2021 at 1:32 PM, PWJ said:

This just shows Mardy that these people at the NZ TAB have no fu*king idea what they are doing. You have just explained in simple terms in less than a minute why this is crazy but no one sitting around the table when this was mooted had the brains and the common sense that this was a dog.

They must think we are all completely thick! Calling it a dog is generous imo.

[von Smallhaussen]

Those at the TAB probably work on the understanding that there is a 50- 50 chance something can go wrong, then  9 times out of 10 it probably will 😉

[ritchie cassidy]

I actually thought i was onto a good thing...winsurance what a dirty rotten scam imo 😡 ...i decided to lay $1 bets on the runner to finishing anywhere in the 4 placings at odds of $31...$27...$25...$22

My runner finishe's 4th and me thinking wow i get $22 back..NOT F..KING EVEN i got back $1 lost $3 🤦

That is a f..king JOKE 🥴👈