$1 minimum bet

[Aaron Bidlake 760]

I wonder with the new change to the website etc if it would have been an ideal time to increase the minimum bet size to even $2.  All the people who are betting $1 in a race were doing so twenty years ago and the average wage would have doubled since then(?) but there bet size has stayed the same.  I'm sure the once a year race goer and the Melbourne Cup day punter still will want to have there bets so would be happy to spend whatever the minimum is and in turn increase the pools.

Also I wonder if percentage betting would have a negative effect on growing pool sizes, people happy to just take a smaller percentage when adding an extra horse to multiple bets instead of increasing the spend.

Thoughts....?

[Leggy 4,077]

48 minutes ago, Aaron Bidlake said:

I wonder with the new change to the website etc if it would have been an ideal time to increase the minimum bet size to even $2.  All the people who are betting $1 in a race were doing so twenty years ago and the average wage would have doubled since then(?) but there bet size has stayed the same.  I'm sure the once a year race goer and the Melbourne Cup day punter still will want to have there bets so would be happy to spend whatever the minimum is and in turn increase the pools.

Also I wonder if percentage betting would have a negative effect on growing pool sizes, people happy to just take a smaller percentage when adding an extra horse to multiple bets instead of increasing the spend.

Thoughts....?

Don't think it would make a difference to revenue except possibly reduce transaction costs by a small margin. Punters will still be willing to lose the same amount whether it be by 1 $2 bet or 2 $1 ones and you may get less churn by raising the minimum.

[Red Rum 1,833]

3 hours ago, Aaron Bidlake said:

I wonder with the new change to the website etc if it would have been an ideal time to increase the minimum bet size to even $2.  All the people who are betting $1 in a race were doing so twenty years ago and the average wage would have doubled since then(?) but there bet size has stayed the same.  I'm sure the once a year race goer and the Melbourne Cup day punter still will want to have there bets so would be happy to spend whatever the minimum is and in turn increase the pools.

Also I wonder if percentage betting would have a negative effect on growing pool sizes, people happy to just take a smaller percentage when adding an extra horse to multiple bets instead of increasing the spend.

Thoughts....?

Ladbrokes not too proud or aloof  to take a 10 p win bet online or a 10p win bet in a shop ,they will  throw in a free coffee while they are at it  and comfy chair yet have a business model that  can chew up the NZTAB and spit it out . I suggest NZTAB might be better lowering stake minimums to get more in when they are currently up the old  shit creek with no paddle.

Ladbrokes website states some people like little multiples , and it let's people play around with few pence while learning the systems .

2p forecast cross  doubles on the dogs I used to have run up the bookies as a youngster and put on for the old buggers down the street. .

Singapore and Hong Kong more so in decent health so in strong position to have 5 and 10 buck minimums we are not.

[Trump 2,741]

Yes. I can put 50c on a multi F4 with Ladbrokes so why would one have a minimum bet online for customers?

[Red Rum 1,833]

5p win Yankee total stake  55p was my favorite bet as a kid  , Cross doubles cross trebles and an  accumilator.  Great bet type need two winners out four a get a collect,  get all four and it's great fun tallying up the returns . Used to watch the adults do it for a pound and lay out 11 quid , I was thinking wow they always have so much money. Add in a 5th horse it's a super Yankee .

[Aaron Bidlake 760]

33 minutes ago, Trump said:

Yes. I can put 50c on a multi F4 with Ladbrokes so why would one have a minimum bet online for customers?

we will be racing for ribbons sooner that I thought if too many people start doing this!

[Red Rum 1,833]

5 minutes ago, Aaron Bidlake said:

we will be racing for ribbons sooner that I thought if too many people start doing this!

But what's the income / profit difference from making the 1 buck punter the 2 buck punter as a percentage of business as a whole ? If that's the difference in million buck racing and ribbons the industry is truly buggered.

[Aaron Bidlake 760]

12 minutes ago, Red Rum said:

But what's the income / profit difference from making the 1 buck punter the 2 buck punter as a percentage of business as a whole ? If that's the difference in million buck racing and ribbons the industry is truly buggered.

No idea, i'm just a wanna be trainer with too much time on my hands today thinking about things so asking the question. There are people paid a lot more than in the industry that probably know the answer.

 

[Red Rum 1,833]

13 minutes ago, Aaron Bidlake said:

No idea, i'm just a wanna be trainer with too much time on my hands today thinking about things so asking the question. There are people paid a lot more than in the industry that probably know the answer.

 

No Aaron your not a wanna be trainer , you can train  horse to jump and run distance with success in a big one , there  ain't no wanna be about that , that's a trainer alright .Hopefully things improve and your stable fills up with a few good ones in among them.

[Huey 2,037]

7 hours ago, Aaron Bidlake said:

I wonder with the new change to the website etc if it would have been an ideal time to increase the minimum bet size to even $2.  All the people who are betting $1 in a race were doing so twenty years ago and the average wage would have doubled since then(?) but there bet size has stayed the same.  I'm sure the once a year race goer and the Melbourne Cup day punter still will want to have there bets so would be happy to spend whatever the minimum is and in turn increase the pools.

Also I wonder if percentage betting would have a negative effect on growing pool sizes, people happy to just take a smaller percentage when adding an extra horse to multiple bets instead of increasing the spend.

Thoughts....?

I see what your saying but why alienate yet another area of NZ racing by doing it, they have already been knocked in the teeth losing Freeview,losing phone bet, taking all the local racing coverage out of the local rags etc etc etc and now we want to kick them in the teeth for being $ e/w punters ? What you need to realise is that a lot of these $ e/w punters punt on a daily basis or a few times a week and there are many of them that might turnover $100-$500 a week so why would we want to alienate them? We need them and many more imo!

[barryb 2,064]

Huey I think you will find the vast majority of the TABs income comes from about 5% of there customers. Unless these small punters continue to grow the cost to serve must make them break even at best.

They are still betting the same volume they were 20yrs ago.

[Leggy 4,077]

12 minutes ago, barryb said:

Huey I think you will find the vast majority of the TABs income comes from about 5% of there customers. Unless these small punters continue to grow the cost to serve must make them break even at best.

They are still betting the same volume they were 20yrs ago.

Exactly, but they don't understand this. You can give them more options but they are not going to spend a $ more than they do now. There will be no more revenue from that.

[Red Rum 1,833]

20 minutes ago, barryb said:

Huey I think you will find the vast majority of the TABs income comes from about 5% of there customers. Unless these small punters continue to grow the cost to serve must make them break even at best.

They are still betting the same volume they were 20yrs ago.

But as a business model why do  ladbrokes or William Hill let me if i want walk into a bookies , use their  betting slip paper  and their pen , write out 10p win on 1/2 shot , curl up on chair for arvo in warm or do similar on Internet if it's bad for business.  Why don't they bung up minimum to 2 bucks.Is it bigger picture , 100 small fry punters , maybe 5 are first time and maybe 2 start increasing bets as they get into it or have better cash flow at some point . 

[Insider 3,954]

4 hours ago, Aaron Bidlake said:

we will be racing for ribbons sooner that I thought if too many people start doing this!

Isn’t Ladbooks primarily a British company and don’t they race for peanuts and ribbons over there, other than a few top quality races throughout the year and of course the best meeting in the world being Royal Ascot. 

If you don’t believe me, try having a horse in training in England and see how it works out. 

Be prepared to lose a large fortune is my take on it.

[Rusty 575]

Ditching the minimum bet of $1 doesn't make any sense to me and would be a backwards step if implemented here.

Any gambling based business is mad if they want to turn down money from punters. 

I don't play pokies, but don't casinos have 2 cent (or is it even one cent?) machines? Why would they do that, do you think? If it is not of benefit to the business, they wouldn't do it. 

Ladbrokes Aussie have a minimum bet of 50 cents. Or if you really wanna have your two cents worth you could bet 52 cents on a horse. They'll take your money (if you have more than 50 cents) quite happily. They are a very successful organisation for a reason. They have a few clues after being round for a million years. They know their customer and know what they (the punters) want. EG. Cashout and no fee for a credit card deposit etc etc.

If the minimum bet at NZ TAB went up to $2, what message is that sending the kiwi punter? It's saying we don't want your dollar. Keep it. Bloody new website would probably being going too slow anyway, and the punter couldn't get on if they tried, but that's another story. 

[barryb 2,064]

Ladbrokes Australia has a terrible reputation for banning punters, rivalled only by BET365. Google up Ladbrokes banning winning punters and you can read for yourself how customer focused they are. 

[Leggy 4,077]

29 minutes ago, barryb said:

Ladbrokes Australia has a terrible reputation for banning punters, rivalled only by BET365. Google up Ladbrokes banning winning punters and you can read for yourself how customer focused they are. 

Used to be that you couldn't win 10k with Ladbrokes without being restricted or banned but they seemed to have a change of heart last year. Not the worst imo. Nowhere near as bad as the hopeless 365.

 

[Huey 2,037]

9 hours ago, barryb said:

Huey I think you will find the vast majority of the TABs income comes from about 5% of there customers. Unless these small punters continue to grow the cost to serve must make them break even at best.

They are still betting the same volume they were 20yrs ago.

I understand that, but there should be no shame in attempting to serve the $ e/w punter or attempt to keep them or their enthusiasm in the game, do we want this sport to just be an elitist model like it is in Europe, I have shares in 2 horses and in the wider scheme of things I'm a nothing in this sport but my contribution combined with the 100s of others like me makes for a significant impact on the sport as I punt, breed,race,buy form guides,go to the races etc etc there are many like me and a lot might well be $ e/w punters who have been very loyal to this sport and they shouldn't be ignored. 

[Red Rum 1,833]

38 minutes ago, Huey said:

I understand that, but there should be no shame in attempting to serve the $ e/w punter or attempt to keep them or their enthusiasm in the game, do we want this sport to just be an elitist model like it is in Europe, I have shares in 2 horses and in the wider scheme of things I'm a nothing in this sport but my contribution combined with the 100s of others like me makes for a significant impact on the sport as I punt, breed,race,buy form guides,go to the races etc etc there are many like me and a lot might well be $ e/w punters who have been very loyal to this sport and they shouldn't be ignored. 

Totally with you on this post and don't forget you involved in game so support it in another way. When someone explains to you a view maybe it's a cruel sport I guess with your knowledge of game you defend it so your investment has spin offs

 Say the elderly or less well off dollar punter who goes down local tab daily for a yarn and to put on few one dollar bets to listen to races on an  arvo to inject a bit of excitement in his/her life  . He/she can only afford few bucks week and recycles winnings . Once every three years they have power of vote , maybe they see one party is anti racing / gambling sometime . Industry will have their hearts and mind at ballot box . Look after the little things , grow the base.Who ever had their first bet 10k win on nose , most people I know started with a single buck/ cents single pound/pence .

[Trump 2,741]

3 hours ago, barryb said:

Ladbrokes Australia has a terrible reputation for banning punters, rivalled only by BET365. Google up Ladbrokes banning winning punters and you can read for yourself how customer focused they are. 

BB, the average punter is at long odds to ever get banned from Lads Aust. I’ve found it to be the most user friendly and the service is great. I’ve made large withdrawals and by using EFT, the money hits my account within 24 hours. The site is idiot proof and so quick and easy. They give generous bonuses as well. Often give money back on a losing win bet (up to $50) if it runs 2nd or 3rd. Yesterday at Coffs Harbour I got a F4 for 540% for a cost of $230. The return was $9550 and change and an immediate withdrawal will see that $ in my bank Acc today. I won’t be banned. I think you would find that anyone being banned would be a winning “whale”. JMHO. Average punters like most of us won’t be. Normally, I wouldn’t have a bet on a Sunday, but after a good Magic Millions with a few of my mates winning races on the day and being at home with the missus after a long lunch, we decided to watch the races - luckily as it turned out  

[Tauhei Notts 1,413]

I think a number of the on course bookmakers in England have a GBP5 pound minimum for bets.

[Red Rum 1,833]

7 minutes ago, Tauhei Notts said:

I think a number of the on course bookmakers in England have a GBP5 pound minimum for bets.

A lot  do TN , independent bookies in Tatts set individual minimums and if youve paid 15 quid to crowd in I  for one aint bothering with a quid however I can assure you I can get a quid on easy in the ring with a bookie because I've done it a ton of times recently for the kids in family with us . Tote take quid bet anyway plus all courses have on course betting shops where I can do a 5p win double on first two favorites if so desired.

[Rusty 575]

4 hours ago, barryb said:

Ladbrokes Australia has a terrible reputation for banning punters, rivalled only by BET365. Google up Ladbrokes banning winning punters and you can read for yourself how customer focused they are. 

Irrelevant and it's common practice to ban or restrict successful punters world over.

I don't need to google that as I already know how customer focused they are. 

[Red Rum 1,833]

3 minutes ago, Rusty said:

Irrelevant and it's common practice to ban or restrict successful punters world over.

I don't need to google that as I already know how customer focused they are. 

Rusty do you or anyone else on here know if NZTAB restrict punters bets , etc. I don't know anyone barred from a bookies bar fella I had occasion to speak to  that went into one in East end with ladies tights over his head and loaded pump action shotgun at same time cash in transit  armoured van  was taking days takings to safety.

[Rusty 575]

48 minutes ago, Red Rum said:

Rusty do you or anyone else on here know if NZTAB restrict punters bets , etc. I don't know anyone barred from a bookies bar fella I had occasion to speak to  that went into one in East end with ladies tights over his head and loaded pump action shotgun at same time cash in transit  armoured van  was taking days takings to safety.

That's just reminded me of a news article I saw recently where an old boy punter, in his 80s, tried to fight off armed robbers in a betting shop overseas. How dare these low lifes interrupt his day out with a beer and a few bets. He was clearly agitated with the robbers and approached them and I think he managed to give one a fair kick up the backside. 

Other way round in NZ where the TAB rob their punters.