poundforpound

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99 posts in this topic

Very interesting, there is a lot of significant stuff in there. Whatever anyone thinks of Winston he is the first Racing Minister to actually take action. Nothing like this would have happened under a National Govt. We may not all agree with the detail, but the intent has merit.

I do hope this transitional board of 7 does have some racing knowledgeable people on it. I note there will be no specific code reps and they are only aiming to have a "collective" knowledge base. There is a lot of reliance on the income to be had from off shore betting. For this to happen there needs to be pretty swift work done to improve the quality of the product we offer at key times. Changing the distribution process will be interesting, but it does free up the landscape to optimise returns to the industry as a whole.

I just hope we can find the right people with the intelligence, integrity and industry respect to carry all this through. As an industry we don't have a good record at attracting top tier people to important management positions.

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Good to see some “movement at the station”. Sometimes things have to reach rock bottom (eg, drug addicts, alcoholics, gamblerholics etc) before the realisation that change is essential to prevent death. Now we await the actions to back up the words. There will be pain and disappointment for some more than others.

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16 minutes ago, von Smallhaussen said:

so where is all this likely to leave to 'plate thrower' as Midget calls her _ I always thought she was a 'ball tosser' !

There is to be no independent chairwoman anymore. The next Chair will be appointed based on competence (one assumes) regardless of any Code allegiance

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This Bill will also bring some financial relief for the industry by making offshore betting operators contribute to domestic racing and sports codes from the bets they take from New Zealanders.

How much money are New Zealanders betting with offshore operators?

If this was enacted, how much would the return to the racing industry be?

Thanks in advance for any shared knowledge.

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6 minutes ago, mr_gee said:

so with winnie not helping   with captail gains tax  do you think labour will geld him on the racing bill

Labour doesn't want a CGT. It is just a bit of "sabre rattling" to appease their die hard traditional support base. They can't afford to lose the middle ground they need to win elections.

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Seems hard to believe that with Ms Ardern and the Left flying high in the polls that they can't get this done

Surely  Ms Ardern isn't worried about not getting elected ,surely not.

She is just like every other poli.head down and nose firmly in the trough.

Rich Pricks .........1

Hrdcore left.........0

 

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3 hours ago, Hufkissen said:

This Bill will also bring some financial relief for the industry by making offshore betting operators contribute to domestic racing and sports codes from the bets they take from New Zealanders.

How much money are New Zealanders betting with offshore operators?

If this was enacted, how much would the return to the racing industry be?

Thanks in advance for any shared knowledge.

My guess would be more betting offshore than last year but will offshore pay money to NZ for us betting on offshore events . Bugger all really would be bet on NZ racing in scheme of things I would have thought . Who would put big dough on racing here between May and September for example  . Have to be brave with big reserves cash .

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1 hour ago, Red Rum said:

My guess would be more betting offshore than last year but will offshore pay money to NZ for us betting on offshore events . Bugger all really would be bet on NZ racing in scheme of things I would have thought . Who would put big dough on racing here between May and September for example  . Have to be brave with big reserves cash .

If you look at the research, it won't amount to diddely squat.

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4 hours ago, Hufkissen said:

This Bill will also bring some financial relief for the industry by making offshore betting operators contribute to domestic racing and sports codes from the bets they take from New Zealanders.

How much money are New Zealanders betting with offshore operators?

If this was enacted, how much would the return to the racing industry be?

Thanks in advance for any shared knowledge.

Racing players have been conned , remember racefields legislation  , this will be it's reintroduction , no doubt under a different name .

It's my belief Winston cancelled it many months ago in order to bring the racing board to it knees and to silence opponents of change .  This is what Winston stopped and nobody knows or is saying why , the only flimsy excuse was not fit for purpose . 

"The bill before parliament was withdrawn yesterday (Thursday) Peters said in response to a question during the conference".

"The bill wasn't right for what needs addressing", he said.

 

 

The following note is provided to set out the reasons for supporting the measures contained in the Off-shore Racing And Sports Betting Working Group Report 


  KEY MESSAGES 
1. It’s good to see the Government taking this issue seriously.  

2. Off-shore bookmakers are having a growing impact on the local industry and without 
Government action, it will only get worse.   The number of Kiwis betting off-shore has almost doubled over the past 5 years.  

3. The reason we have the NZTAB is to ensure benefits from betting fund racing and sports in NZ.

 4. Off-shore bookmakers take bets from New Zealanders and on NZ racing and sporting events 
and give nothing back. That is money lost to our local racing and sporting sectors.  $58 million in gross revenue is bet by Kiwis off-shore;  Australian bookmakers are taking $300 million worth of bets on NZ racing.

5. The NZTAB must become more competitive and attractive to customers. But we also need to 
see off-shore bookmakers making a contribution back to NZ.  

6. The recommended fee would bring in approx. $16 million for racing and sport.  

7. These bookmakers comply with similar obligations in other countries (e.g. Australia, UK, 
Ireland, France and Italy). We’d expect the same here.  


 
 

 
 

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I recall reading that the NZ TAB have to pay TABCORP as NZ punters lose more than they win betting on all the events that are brought in by our clueless TAB. No surprise here but perhaps the industry would of been better off if they had focused on NZ racing and forget all the crap they insist on polluting the racing channels with. If the above is correct how much does the NZ TAB lose to Australia ?

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2 hours ago, Insider said:

Negative as always.

Show us the facts since you seem to have them. :rcfe-money:

I've done that plenty of times Insider and I really can't be bothered anymore. The IRD have the GST return numbers for overseas betting by NZ consumers since 2016. Why don't you ask MAC or the DIA to get them from there. And let us know what you find out. See how that relates to the numbers being bandied about by the NZRB, MAC and the Minister. I don't think the comments from Treasury and the DIA in the Cabinet papers believe them somehow. You might consider that there could be a difference between negative and realistic.

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On 4/17/2019 at 7:43 PM, tripple alliance said:

Racing players have been conned , remember racefields legislation  , this will be it's reintroduction , no doubt under a different name .

It's my belief Winston cancelled it many months ago in order to bring the racing board to it knees and to silence opponents of change .  This is what Winston stopped and nobody knows or is saying why , the only flimsy excuse was not fit for purpose . 

"The bill before parliament was withdrawn yesterday (Thursday) Peters said in response to a question during the conference".

"The bill wasn't right for what needs addressing", he said.

 

 

The following note is provided to set out the reasons for supporting the measures contained in the Off-shore Racing And Sports Betting Working Group Report 


  KEY MESSAGES 
1. It’s good to see the Government taking this issue seriously.  

2. Off-shore bookmakers are having a growing impact on the local industry and without 
Government action, it will only get worse.   The number of Kiwis betting off-shore has almost doubled over the past 5 years.  

3. The reason we have the NZTAB is to ensure benefits from betting fund racing and sports in NZ.

 4. Off-shore bookmakers take bets from New Zealanders and on NZ racing and sporting events 
and give nothing back. That is money lost to our local racing and sporting sectors.  $58 million in gross revenue is bet by Kiwis off-shore;  Australian bookmakers are taking $300 million worth of bets on NZ racing.

5. The NZTAB must become more competitive and attractive to customers. But we also need to 
see off-shore bookmakers making a contribution back to NZ.  

6. The recommended fee would bring in approx. $16 million for racing and sport.  

7. These bookmakers comply with similar obligations in other countries (e.g. Australia, UK, 
Ireland, France and Italy). We’d expect the same here.  


 
 

 
 

And here it is , racefields  ex Bernards blog .

The two Bills to be introduced will amend the 2003 Racing Act, with the first to be enacted by 1 July and putting in place the Racing Industry Transitional Authority (RITA) which will drive the transition of the industry over the following months.  RITA effectively replaces the NZRB with new personnel who will be charged with Business As Usual responsibilities combined with the necessary change management to introduce the new look and direction of the industry.

This first Bill will also see the introduction of a racing information charge (Racefields) and a point of consumption charge, with overseas betting operators being required to finally pay for the use of New Zealand racing.

 

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Exactly how they propose to do this by July, I don't understand. Don't bills (and this one is not even written yet) have to have a first reading, go to select committee which usually calls for public submissions and then has 6 months to report to the house before the second and third readings proceed?

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Pretty disappointing to read comments like this:

 

Valachi Downs owner Kevin Hickman is hoping the government’s move yesterday is a step forward for the industry but remains pessimistic until seeing Messara’s recommendations, such as closing down more than 20 New Zealand racecourses, come into effect. “It is definitely a step forward because if it doesn’t get sorted out we won’t have an industry,” Hickman said.

“We have been doing this sort of thing for years. They have got to get rid of these little country tracks and put the money into the metropolitan courses. It is a no-brainer but some of the people they have got on the boards (in the past) don’t seem to have enough go to create change.” 

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37 minutes ago, poundforpound said:

You’d listen to Kevin Hickman wouldn’t you ?

His record in business is pretty damn good and his passion for and commitment to racing is without peer.

I'm sure he didn't get rich by wanting to sell off stuff that wasn't his to sell?

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19 minutes ago, Whyisit said:

Of course he’s just looking after himself     Racing will become only for the rich.

You're correct it appears to be heading that way, it's got very little future in this country if it heads that way.

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