NZRB Half Yearly Report - where's the money?

[Guest 2Admin2]

https://nzracingboard.co.nz/sites/default/files/documents/NZRB_HALF_YEAR_REPORT_2017_FINAL_0.pdf

[scooby3051 10,863]

Look at Victoria... oh how we wish... no wonder people can't wait to leave...

Prize money increases for Vic racing

SYDNEY May 13 2017

 

Racing Victoria has announced a $15.5 million increase in prize money for the 2017/18 season with a total of 214 million on offer.

The first Group One race of the new season, the Memsie Stakes, will be worth $1 million and the Caulfield Guineas will carry $2 million.

Saturday metropolitan races will be worth $100,000 while an additional $6 million will go to country racing.

- AAP 

 

 

[Ohokaman 5,824]

Once Saundry gets a zillion extra pokies ringing, we'll soon be in clover Scoobs.....

[Don't You Believe It 93]

No growth in betting turnover - racing going backwards and sports flat.  And the Stuff article today says that Openbet will cost $30-$35m over next few years before being paid for.  So again, how will the extra $24m be funded?  Magic?

[scooby3051 10,863]

International software and wagering operators will team with the New Zealand Racing Board to enhance its fixed odds business.

 

The board will partner with Open Bet and Paddy Power Betfair and comes off the back of the news of an increase in minimum stakes per race in New Zealand to $NZ10,000 from March 1 and the progression of its race field legislation act.

OpenBet is a sportsbook and gaming software company based in London with offices in Canada and Sydney.

Founded in 1996, OpenBet was purchased by the NYX Gaming group, a Las Vegas-based supplier to gambling companies, for £270 million in May 2016 when Paddy Power Betfair were also linked to a potential deal.

Glenda Hughes, New Zealand Racing Board chair, said in a statement the board is confident the partnership will stimulate its fixed odds business.

"The new FOB (fixed odds betting) offering will complement our already competitive tote, putting NZRB in a much stronger position to manage turnover across both products, taking into account customer and channel preferences," Hughes said.

"OpenBet will provide access to a first-class FOB engine, used by many of the major wagering organisations across the world, and partner NZRB with an organisation at the forefront of international wagering growth and innovation.

"Both partner organisations have strengths in digital, sport and in-play wagering, which are three of the biggest growth opportunities for NZRB."

[Guest 2Admin2]

Hughes says in this statement "their already competitive tote product".  Yet in the NZRB half yearly report she lays the blame for the below budget performance at the loss of big punters due to "an uncompetitive product".  Is that a bob each way or a two bob watch talking?

[Ohokaman 5,824]

20 minutes ago, 2Admin2 said:

Hughes says in this statement "their already competitive tote product".  Yet in the NZRB half yearly report she lays the blame for the below budget performance at the loss of big punters due to "an uncompetitive product".  Is that a bob each way or a two bob watch talking?

The latter....

[lecithin 429]

This just keeps getting more and more ridiculous.  The Victorian prize money increases are funded by a 9% increase in betting turnover there.  I'd suggest much of that is due to the minimum bet rules they introduced around a year ago.  I'd also suggest a large factor in the continuing turnover decrease here (despite what the NZRB say) is the direct and indirect impacts of the TAB banning or unreasonably restricting some punters....

[Trump 2,741]

I remember watching one of those late night movies during Easter, you know, the biblical ones? I recall hearing the words, " ...forgive them, for they know not what they do...". How could anyone describe the NZ Tote as competitive - unless of course one was ignorant ??

[Tauhei Notts 1,411]

I see the Racing Board's Glenda Hughes embroiled in that Todd Barclay shenanigans.  She is big big in the National Party. 

Run the Racing Board.  It is called "jobs for the girls".

The last blatant political appointment was NZ First's Giblet Myles.  He got in as part of the coalition agreement between the Nats and Winston.

Glenda would do well defending the senior Midget's pals, the O'Briens.  When it comes to defending he indefensible she is without peer.

[Midget 4,489]

3 minutes ago, Tauhei Notts said:

I see the Racing Board's Glenda Hughes embroiled in that Todd Barclay shenanigans.  She is big big in the National Party. 

Run the Racing Board.  It is called "jobs for the girls".

The last blatant political appointment was NZ First's Giblet Myles.  He got in as part of the coalition agreement between the Nats and Winston.

Glenda would do well defending the senior Midget's pals, the O'Briens.  When it comes to defending he indefensible she is without peer.

She's not without peer at all, in fact she's unique, I think she's got two pair.

[Tauhei Notts 1,411]

I have since found out that Glenda Hughes is head of the Racing Integrity Unit.

Integrity?

That woman thinks 6.9 is an integer.

But, seriously, spare a thought for the people who have invested so much in to horse racing in N.Z.  People like horse trainers.  If Glenda Hughes is the head of integrity, then what sort of outfit  have you got.  That reminds me of Groucho Marx's comment in a Marx Brothers film;

"This is the brains of our outfit.  Now you know what kind of outfit we've got."

[jess 1,244]

Covered in glory once again. 

NOT.

But some ppl have no shame and believe their own b.s. and obfuscation.