LightsOut
-
Posts
344 -
Joined
-
Last visited
-
Days Won
9
Content Type
Profiles
Forums
Events
Gallery
Posts posted by LightsOut
-
-
Exported turnover as at the end of June 2021 returned $1.3 million which represents 3% of the total for 11 months.
Quote
From the Chairman a few weeks ago. In terms of the commission on export (off shore betting), which is paid out at 3% of the actual, up to the end of June, Thoroughbreds have received $4.6m, Greyhounds $4.5m and Harness $1.3m. It is clear that we have work to do in this area and the Board is working with an offshore partner to increase our exposure in Australia.The Chairman has reported that exported turnover was $83 million for last years 12 months. Take off $5 million for July (average month is $6.9 million but obviously less meetings in July) and you have $78,000,000. 3% of that figure is $2,3 million so how or why was only $1.3 reported as the actual amount received?
The $3.2 million difference between Greyhounds and Harness is huge and hard to believe. Maybe with 3 years of on-going Operation Inca and the now known fabricated stories has had a more negative impact than one would think. Punters lose confidence due to possible integrity issues and there are plenty of other betting options to look to.
-
What's the point of putting figures out when you don't proof read them fist. The Chairman used to be the Finance Chairman of HRNZ so should a no brainer to check figures first.
You don't need an accountancy degree to notice the standout obvious error. Amateurs!
- tasman man and JJ Flash
-
1
-
1
-
Sadly when an Organisation have had in the past and presently nil management running it along with a clueless overseeing Government Agency eg DIA there can only be one end result. The only thing you want either of those two outfits running would be as far away as possible to anything your involved with.
-
One would hope they are not holding onto millions owing to service providers in order to make things look better on paper than they actually are. Sadly wouldn't be the first time.
And hopefully they have learnt how to establish areas of costs that should be correctly accounted for in expenses eg previous reports out by millions due to supposed coding errors
Still no report over a year later as promised to the Industry as to how and why it happened. No worry the NZ taxpayer funded the loss through the bail-out.
-
They would struggle to price at a $2.00 shop
-
yesterday (details below). The INCA Investigation has continued to drag on with it looking highly unlikely that the initial media storm on 'race fixing' is looking like a joke with some odd claims made along the way so it wouldn't be a surprise to me if the question asked doesn't have some validity. There is no possible way the police would have conducted a $10 million dollar plus investigation unless they had some serious intel to go on. Word is the Police Commissioner is fuming over the money and time spent resulting at this point in time some small time drug activity that didn't warrant the expense for the result.
The First World War lasted 4 years and just over 100 days unbelievably INCA is looking like it might break that time frame. I would be very surprised if the Judge doesn't throw the matter from the Court.
-
In business it's very dangerous to set a precedent in order to appease a customer Granted there is a vast variance in the bet winning amount below and the winning return to the customer referenced in this thread but in Court it could be argued that the amounts in difference should not come into it but rather the process and reasoning that was applied to appease one customer should also apply to others.
I think the punter used an obvious error to his advantage but they took his money for the bet and initially paid him which shouldn't have happened. The punter shouldn't have used the comp bonus bet as in doing so he has basically accepted a form of compensation.
At the end of the day the situation shows the incompetence of both the TAB's human and computer ability to run a smooth running operation in the betting business world.
TAB backtracks over man's winning bet.
Paloma Migone
07:40, Jul 14 2011When punter Mike Smaill tried to cash his winnings at a Dunedin TAB outlet he was left feeling like a loser.
The TAB cancelled the bet after it made an error in the odds for the Hull Kingston Rovers' English rugby league
match on Sunday, and refused to pay Smaill the $412.50 he won."I was disappointed that they could cancel bets. If it was their mistake they should really swallow it," he said.
Smaill has been supporting the rugby league team for the past five years.
Last weekend, the odds were $5.50 and he lay down $75.
Smaill admits his team was not very good, so he was excited when they "finally came through".
After he was turned away Smaill called the TAB's help desk. He was told the terms and conditions allowed the TAB to
opt out of paying winnings if there had been an error in an offer.Smaill was given the option to write a complaint.
"I did see afterwards that it would have been a mistake because the team they were playing was at the bottom of the table," he said.
Stuff contacted the TAB this morning and asked about Smaill's case.
New Zealand Racing Board communications manager John Mitchell said Smaill would have his winnings paid in full.
The rules were clear, Mitchell said, but the TAB was flexible.
"If there is a case of someone not deliberately setting out to take advantage of an error, it was a bet placed in good faith,
then generally speaking we do pay out."We have done that in a couple of recent cases from the last week or so."
He said there were human errors in the TAB system from time-to-time, but it was "extremely rare".
But Mitchell could not say how many mistakes had taken place in the last year, or how many people had their bets refunded.
There was training in place to keep errors to a minimum, he said.
-
To be fair to John Allen on his quote below he was clueless on betting and was guided by other clueless management with some unfortunately still there guiding the rudderless ship.
QuoteBut the primary financial goal of the partnership would be to improve the TAB's profit margins by between $12 million and $36m a year by preventing foreign punters from taking advantage of TAB misspricing.The TAB currently calculates the odds it offers on events manually," Allen said."The challenge for us is when you are a manual operation, you can't move your odds as quickly as an automated operation (ha ha what a $50,000,000 joke). "You risk being 'arbitraged' by people around the world who are looking for value, because they know odds offered by some bookmakers will have moved but your prices haven't."An automated system would mean fewer opportunities for sophisticated punters to play off the TAB against other betting agencies."We want punters to bet with us because we give them a fair price. But we don't want to be taken for a ride, because every dollar we make in profit is a dollar that goes to the New Zealand [racing] industry," Allen said.
QuoteJohn Allen, New Zealand Racing Board CEO highlighted the expanded perks of the new platform. In addition to offering TAB gamblers a considerably wider selection of betting options there are new innovative features. Some of the said innovative features include live streaming sports which will allow for live bets on the platform. There are additional payment features such as Cashout to improve user experience and satisfaction. PROJECTED BENEFITS OF THE NEW BETTING PLATFORM
The CEO of NZRB predicts that a new and improved user-centered betting platform will increase revenue and TAB’s market share. NZRB will also be able to set up its own odds for the different races something it was previously unable to do. Although the platform has cost about NZ$40 million (Poor John knew nothing about racing or accounting) , the expected annual rewards will more than make up for the cost. The new betting platform and mobile app is expected to reap up to NZ$19m in profits annually
$19,000,000 a year in profit but no mention of the $17,000,000 a year to maintain and service it. Yes the NZ Racing Industry got shafted big time. Mongrel system won't be generating enough profit to make it any use to the Racing Industry. Only winners will be the Sports codes reaping the extra income for no cost.
The above again demonstrates what happens to an Industry when you have nilers in charge who have no knowledge or past experience in what a Company is involved with.
Quote -
-
Last racing venue for this greyhound is NA?
-
Quote
Blossom Lady sorry to say the only situation relating to your above post is that you have 100% 'exposed' only yourself to be sadly lacking in the skills of scrutinizing and researching information. Probably best that you don't ever consider taking up a second career as a Detective. THE TORCH is male and Jan Skinner is female. Hope at least you have the basic scrutinizing skills to realise that there is a slight difference there.
Go away and brush up on your ability to do the right researching so you will come back with the correct name of the poster who you got horribly wrong.
Probably not a bad idea when you hopefully find the correct information to realise that you wrongly named someone and do the right thing to man up and apologise to Jan Skinner (who I have never met or have any connection to).
As your investigating skills are nil here's a little heads up to help you on your way to get it right:
- THE TORCH's father trained thoroughbreds in Hawera and his surname starts with a G.
100% how do I know? Hello when it's 'Lights Out' who you going to call 'THE TORCH'.
- Huey and Pam Robson
-
1
-
1
-
UK based wagering operator he worked for was Blue Square who under performed and was sold for a fraction of what it was once worth. Purchased by Betfair to acquire the customer data-base. Interesting to see Blue Square teamed up with the same outfit as the NZ TAB, Open Bet. In 2012 all the benefits of the renewed partnership advised to the media and 1 year later done and dusted.
2012 - Blue Square agree OpenBet deal
Operators Blue Square Bet have extended their relationship with OpenBet by signing up to the supplier’s Online Product Roadmap.
The online betting firm have signed a multi-year contract with the sportsbook and gaming software providers, continuing a partnership that dates back to 1999 when Blue Square were OpenBet’s first ever customers.
The Online Product Roadmap brings together various products and is designed to allow Blue Square Bet to keep improving their overall online sportsbook performance (where have we heard that line before), as well as increasing scalability across a number of channels.
The roadmap will also deliver improved liability management, enhanced bet placement and more sophisticated promotions.
OpenBet chief executive officer David Loveday said: “We have had a very long and close relationship with Blue Square Bet that has seen both companies grow to become established brands in the gaming sector.”
By signing up to our Online Product Roadmap, we look forward to continuing to provide the platform for their continued success and many more years working together.”
Mark Jones, managing director of Rank Interactive, owners of Blue Square Bet, added: “Over the years we have built a relationship with OpenBet that is based on trust and delivery.
“The dynamic of the relationship has meant that Blue Square Bet has been able to compete with the rest of the industry, sound in the knowledge that the platform on which we are built provides us with the best opportunity.”
April 2013
Punters placing bets on Blue Square could be approaching the final whistle after a decision by Rank to sell or shut down the online sports bookmaker.
Partly as a result of an imminent new tax on offshore online bets, Ian Burke, Rank’s chief executive, announced yesterday that the future of the loss-making Blue Square was under review.
The leisure company wants to concentrate on its Grosvenor Casinos and Mecca Bingo businesses and on online games such as poker.
Rank bought Blue Square in 2003 for £65 million from Icap, the City brokerage, although it is now thought to be worth a fraction of that.
It has 120,000 customers but has floundered amid tough competition in digital sports betting from rivals such as William Hill, Paddy- Gruff, Pam Robson and Patiti
-
1
-
2
-
Quote
You should know by now that the hard questions are either not answered or answered with considerable obfuscation. Not worth asking them imo. More of the same we have had for many years though possibly now worse. Transparency? I don't think so.
Your going bad when your making John Allen's performance as CEO look good.
-
Oddly my two questions were not answered both related to transparency so I will put it down to he has no clues on both situations which is a disturbing situation.
The bonus bet fiasco is a major concern as a determination as to how it occurred was promised nearly one year ago. One can only assume that it was an internal management #@%& u that is too embarrassing to report on. Personally I would blame the CFO at the time who must have been aware of the situation and if not why wasn't he? Thankfully for the benefit of the NZ Racing Industry that person moved on about 12 months ago.
.
-
Ha I see it' closed in the last hour. Probably not bad for the DIA it only took them six days to wake up.
All three codes got to nominate someone to represent them.
Alan Jackson nominated I read somewhere nominated by NZTR. Not sure if he is the best around as he didn't seem a very dynamic Chairman of NZTR in my opinion but to be fair on the guy that's only due to feedback I have heard from a few involved in that code and others may well think he is the right person.
I have heard two names mentioned as nominations for the Harness and Greyhound codes but I hope the info I got is way off the mark as if it is the case then another two nails go into the Industry's coffin.
.
-
a calendar for Christmas. Remembering this is the outfit who administer the TAB and advise the Racing Minister re racing policy. Screenshot taken today six days after nominations closed so get it right DIA nominations are closed not currently open %$&k me just no idea.
-
What is the bank debt currently (was $45 million EOY) and when do you expect this debt will be completely cleared?
-
Quote
You'll be delighted to know that things are quite rosy from what i have heard and the Pubtab i use is actually doing a great trade with the publican very happy about the increased patronage and returns to him.
That's good to hear someone knows how to promote one side of their business successfully, shame that publican isn't in charge of marketing at the NZ TAB. The local TAB Agent threw the towel in as he said after paying all expenses he was earning $4.50 an hour, it used to be in the top 3 Agency's turnovers once upon a good time. Yes the NZ TAB are going real well when a situation like that turns around.
I also will judge the new board and management on results once they are appointed.
When an Organisation has a National monopoly no customer should be leaving because of mismanagement or customer service and if you truly believe that punters haven't you will no doubt be elected into the NZ TAB Cheerleaders Hall Of Fame.
Thankfully this site has a worthwhile addition eg ignore user button as quiet frankly you bore the crap out of me with your uneducated cheerleading views.
Happy Cheerleading.they need some poor sap doing it.
-
Quote
Your like a broken record. You must lead a sad miserable life
I did until I opened a betting account overseas.
I will give you one thing your 100% the NZ TAB's #1 cheerleader. I give them a tune-up because they continue to cost the Industry lost revenue because of their gross incompetence in understanding how to run a wagering operation and how to service customers. At least registered on & off course bookies in NZ would be another avenue for a punter to try and get a better service. Not saying they might receive that but let's be honest any overseas outfit doesn't have to worry about the competition here. Bigger punters have left the NZ TAB in droves where as smaller punters can't be bothered with the hassle of not being able to bet and collect locally but if that changed to a situation where they could well it's not hard to work out where most would want to bet. Go to your local TAB if you can find one then ask 10 customers if you can find them and ask them "do you like betting with the TAB and do you rate their customer service", if you get 3 to 4 rating them positively then I would be very surprised. I would have asked a dozen punters and everyone one of them rate the NZ TAB as nil with no idea.
Turnover might be up but anyone with half a brain can work out why. The same thing happened with an Aussie TAB their turnover more than doubled in a year but they went near broke achieving it. Are race stakes up and has the $45 million bank overdraft come down? Harness on-course turnover was down about 27% to middle December yet NZ TAB tote figures are up 25% in the same area. You don't crow that racing is going through a boom period and get a % swing like that occurring. It's called spin doctoring with figures eg rebates, win assurance and bonus bets all great for the punter but not much good for the Industry wanting a return.
Story below on TAB customer service and management at it's best again. Sadly clueless on their customer obligations when doing financial transactions. Only in the business for 60 plus years with an audit and management team who can't get it right. The only broken record is the crap service they continue to give and then expect customers to come back or continue betting with them. Ha ha plead with customers to come back and bet with us yet today you continue to treat them like this.
QuoteYou can't play a 'broken' record but unfortunately NZ still bet with a home grown monopoly' broken' wagering agency.
- Pam Robson and Baz (NZ)
-
2
-
Quote
'The TAB runs a monopoly'
Unfortunately they would be incapable of selling beer to an alcoholic. The TAB was set-up for the right reasons unfortunately over the years those reasons were lost due to management incompetence.
Monopolies lose any incentive to innovate or provide new and improved products plus customer service deteriorates to near zero which all adds up to the NZ TAB.
-
Rangiora punter 'shocked' at betting agency TAB's reluctance to investigate counterfeit notes
Mariné Lourens05:00, Jan 12 2021An avid Canterbury punter says he was “shocked and annoyed” when he reported receiving counterfeit notes in a racing day payout and was told by the TAB there was nothing it could do.
Bruce Gasson, an elite TAB customer, won $680 at the trots at Rangiora Harness Racing Club on the first Sunday of the new year. His payout included three $100 notes.
Gasson said when he arrived back home, he realised two of the notes “didn’t look quite right”. After a closer look he realised they were counterfeit.
“They can pass for the real thing at a quick glance, but if you study them closely you can pretty much tell they are fake,” he said
“
He contacted the TAB, which said the information would be passed to its investigations team.
He was told the only way the TAB would consider reimbursing him was if police ordered it to do so.
“I am trying to be a good citizen by reporting this, and they treat you like that? I was really quite shocked and annoyed about it.”
Gasson had no better luck with police. After reporting the counterfeit notes, officers visited his home and confirmed they were fake.
One of the officers took a photo of them, told him there wass not much the police could do and left without taking the illegal notes with them, Gasson said.
“There are fake notes being circulated. Surely [the police] should be a bit more interested than that?
After Stuff inquired about the case, both agencies appeared to have amended their response.
Gasson was contacted by the TAB over the weekend and told the agency would reimburse him for his loss.
Meanwhile, on Monday morning police officers arrived at his Rangiora home to collect the counterfeit notes.
Gasson said his concern was less about being reimbursed and more about the fact that counterfeit money was making its way through a national betting agency’s system.
“Surely they should be alarmed that [counterfeit money] is flowing through TAB payouts.”
A TAB spokesman confirmed Gasson had been refunded for his loss, but referred further questions to police.
A police spokesman said the notes were initially left with Gasson to allow him to “further engage with the betting venue to negotiate claiming legal tender”, but acknowledged this was not standard practice and that officers later collected the notes.
“It was established there were no available lines of inquiry into how the notes came to be in circulation,” the spokesman said.
Jon Duffy, chief executive of Consumer NZ, said he expected businesses would not be giving out counterfeit money and if they did, they should be willing to refund customers with legal currency and pursue the matter with police or the Reserve Bank.
---------------------------------------
Surprise surprise once Stuff got involved they changed their attitude. Unbelievable the TAB has an investigation team and also employs plenty for the money laundering Act. Hello laundering money = counterfeiting of money yet they sit back and do nothing until asked the question why not by Stuff.
Once again what do you think would happen in private enterprise when a department acted the way they did initially. Just continue to make jokes of themselves and they want people to come back and bet with them when you read a story like that, yes they are obviously taking the piss.
-
- How can the TAB post millions as profit in the Annual Accounts for merchant fees when the amount to look to recover is only supposed to represent the actual cost of the service for a business. Cost and recovery for the fees should balance each other out. And why does the TAB who are presently pleading for customers to come back and bet with us continue to charge this fee when Australian bookmakers and TAB's incur the cost of credit card fees themselves.
- When can the Industry expect the promised independent report back in Mach of last year on why millions of dollars in bonus bets over the past two years were not accounted for correctly to the point where the Annual Financial Accounts from two years ago were wrongly reported to the Racing Minister and Industry.
-
Quote
300 less staff are now employed and some drastic action taken in other areas
Yes and as I have said it took Covid to do it. They were broke believe it or not but Covid actually helped them out.
QuoteEven if good you'll find something to moan about.
Maybe if the clowns actually listened to their customers there might be a lot less to moan about. Here they are pleading with customers to come back and bet with us but have they actually bothered to ask them why they deserted them. They need too be told because they are obviously too thick to work it out for themselves.
Most Companies ask customers why they have taken their business elsewhere but not this one.
-
Quote
What would you have to moan about if it went under??.
Ha rubbish I post, the results are there if anyone with a half a brain can clearly see. Give me one positive thing they did prior to Covid? Ha they increased the o/d to $40 million - real positive trading of a Company well in the crap.
QuoteTAB NZ is only able to access the Crown grant for permitted purposes and must validate each funding request with evidence. The Department assesses each funding request and releases funds if it is satisfied conditions have been met. A more formal and longer-term monitoring arrangement may also need to be considered depending on the outcome of recapitalisation work
.You really think they are going that well they have their hands ties and the Minuister has been advised that more money will be needed to prop them up.
And in case you are a bit slow there are plenty of people who have zero faith in the current management as the above quote re performance monitoring would suggest.
HRNZ Chair Report- What do you think Keyboard Warriors
in Harness Cafe
Posted
Sadly in the Racing Industry that's a common problem over the last few years and obviously Operation INCA is a classic case. Transparency isn't there like it once was.