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Weigh In Oct 24


Hesi
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Bruce Sharrock talking about geo blocking at 40.24.

What I don't get, is that the 650 mil lost, it is made up of 500 mil online casino, 140 mil racing and sports.

How do they get that racing would benefit to the tune of 100 mil(57% to thoroughbred)

Is the 140 mil, turnover or net betting revenue?

 

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They'll be claiming the amount is the losses, not the turnover. Since the levies are minute these days on racing, the losses are closer to the net betting revenue. However betting on offshore racing would be subject to standard product fees. And sports betting related commission fees.

That doesn't change the issue about the $650m being that it is a made up number. Why not just say $5b. Or any other number you feel like.

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16 minutes ago, Hesi said:

On the contrary, I'm tempted to put a banner across the top of this site that says, IF Geo Blocking goes ahead NZ Thoroughbred racing will get another $57 million per year.

That's exactly what Sharrock says isn't it?

I don't know. I don't plan on watching it. Perhaps ask them where the analysis is that defines

a) what percentage of punters losses bet offshore will come back to NZ through NZ TAB. i.e the impact of the policy on customers betting elsewhere.

b) what percentage of current customers (betting revenue) will be lost due to implementing a draconian policy that prevents customer choice (that is different to now, those betting have a choice. with geoblocking, they don't). What impact will that have on the thinking of those customers that currently bet with NZ TAB - i.e the impact of the policy on current customers.

c) what percentage of those customers (betting revenue) that bet with NZ TAB and offshore providers as to their view on the policy and how that might affect their betting. i.e the impact of the policy on those customers that are current customers mixed with betting elsewhere.

And then consider those items from a long term perspective around individuals lack of choice in this current 'environment' where limiting choice is seen as a loss of rights.

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1 minute ago, Hesi said:

Yes agree.  He is really asking people to get in behind geo blocking to basically save the racing industry, calling it the most significant event, therefore he has an obligation to provide a lot more data

And also, it still doesn't answer the main problem with NZ racing. Why is it that it requires 100s of millions of support from the government every year. If geoblocking increases the revenue, most of that revenue is again coming from tax payer funded revenue 100% unrelated to NZ racing. Why do tax payers let this happen? Because they simply don't know that it is happening. 

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If the main aim of geo blocking is because it’s not a level playing field and that they don’t contribute to the problem gambling levy Why not just level playing field and make those offshore bookmakers pay a more realistic fee for the product. 
 

If they refuse then by all means geo block them. Some may also decide it’s not worth paying the additional fee and drop NZ racing from there wagering. 
 

I have and do bet offshore funnily enough since the tab dropped there deposit fee and got a lot more competitive with there promos etc I’ve found myself doing the bulk of my betting with them. 
 

I’ve also got a couple of bets with offshore bookmakers on options that potentially don’t settle till 2025 what happens with them if I’m geo blocked?

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6 hours ago, Tonkatime said:

If the main aim of geo blocking is because it’s not a level playing field and that they don’t contribute to the problem gambling levy Why not just level playing field and make those offshore bookmakers pay a more realistic fee for the product. 

Most of the NZ TAB revenue comes from non-NZ racing. Any product fee changes could simply be increased against us. Foreign sporting bodies could decide our handling of sports funding is not how they want to see it and introduce their own levies.

We need them more than they need us.

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17 hours ago, Hesi said:

Yes agree.  He is really asking people to get in behind geo blocking to basically save the racing industry, calling it the most significant event, therefore he has an obligation to provide a lot more data

An obligation to but won't,just like everything they do its made up. I do not know one single person who bets with online casinos...that figure as well as the 150 mill are just pie in the sky to make people think the world is about to end...just imagine how much the running costs of the TAB will go up if there was that type of money. I agree need to see hard evidence of the numbers and guarantees that costs won't spiral if , and its a huge if the money they are talking about actually exists...its all waffle from the king of waffle Guerin.

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I didn't mention costs.  TAB NZ(former Racing Board), would increase it's payout to the 3 codes from 150 to 250 mil(that is quite clearly what Sharrock is saying.  That is a 60% increase.  Now a lot of the resource and infrastructure is already in place, but operating costs will go up.

The other aspect that Sharrock mentioned, is that geo blocking will make the TAB more attractive to a joint venture partner?????

This was always the priority, the TAB simply charge too much to run wagering for the benefit of NZ racing, which means less to return to the industry.

What ever way you look at it, racing here simply cannot trade it's way out of the current situation, it needs an ongoing injection of cash each year to get it back on it's feet.

Is geo blocking the answer, is a joint venture the answer, is it both

Pass

 

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