Another joke by the NZRB....

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so apparently Betfair came to an agreement to pay the NZ Industry to pay product fees (the report failed to mention they also took live feed well before the start of this year on NZ Racing on the Betfair site, mmm wonder if Betfair were supplied that from live racing video feed from TABCORP like they will be supplying to Sportsbet who is a subsidiary of Betfair. I doubt Betfair were paying anything prior to about now its just they know with legislation coming for Race Field Fees  they will be forced to pay as it will be a bad look as they are partners with the NZRB and unlike the other overeseas partners like NSW TAB and TABCORP they pay nothing. So someone needs to ask who was supplying live NZ Racing Feed to Betfair prior to this year? And why was it allowed to happen when they were not paying any product fees to the NZ Industry?

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Tabcorp, the long-term broadcast and wagering partner of the New Zealand TAB, will act as intermediary, facilitating delivery of the content.

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The agreement follows a deal between RIITA and another Flutter-owned brand, Betfair, announced earlier this year. This saw Betfair agree to pay product fees to the TAB in return for offering odds on New Zealand racing. Similar agreements, as part of a wider drive to revitalise the country's racing industry, are being negotiated with other Australian operators

Something odd is going on here it reads that Betfair signed a deal earlier this year now we also read    .

We are very grateful to Tabcorp for delivering the vision to Sportsbet, their biggest competitor in Australia.”

Following a deal between RITA and Betfair, another Flutter-owned brand, it will see Betfair agree to pay product fees to the TAB in return for offering odds on New Zealand racing.

The last week two GM managers and a manager from NZRB flew to Ireland, mmm thats where Paddy Power resides - a deal struck up earlier this year ha ha yeah right. 

 

 

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http://New Zealand’s Racing Industry Transition Agency (RITA), the body charged with overseeing the restructuring of New Zealand racing has secured a new deal which sees Flutter Entertainment’s Australian market subsidiary Sportsbet launch live streaming of races driving new audience engagements.' 

A new deal? they never had a previous deal so its not new its a commercial deal. Is NZ Racing paying Sportsbet to have live racing on their Betting Platform and in return they will now pay a  product fee? No doubt if anyone in the NZ Racing Industry asks any questions re income and expenditure for this they will be told can't say as commercially sensitive. 

Wonder if it will be such a god deal like the $50 million dollar betting platform where the Industry was told its benefits would be $19 million a year extra income and would pay for itself in just 3 years. End result it only services half of the previous wagering the previous betting platform did so does half the job required and will never look like returning that extra revenue per year especilaly when you deduct teh %178 million a year to service and run it. Its not a betting platform its a major liability that comes with a noose.     

The GM of Broadcast I see was involved in this new deal. His credentials on Broadcasting are very suspect at best so no doubt Paddy Power bluffed him to a deal to suit them. Go and source his Broadcasting background in Australia pre NZRB you wont find much at all ohh but word is he was very good friends with a  certain GM so say no more. Word was (and confirmed by someone that would know) that Trackside had to employ  the GM a qualified and competent 2 IC at considerable cost to the Industry as the GM was that far out of his depth.

RITA are in full control of all managerial and expense controls the Industry was told from July 1st ?????  

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Hard to believe that a GM and a manager of an organisation which relies on every form of income it can receive basically sold the new (sorry relic) Betting Platform to the CEO who then sold it to the Industry and the agreement signed with Paddy Power never had a clause in it that once the NZRB and Paddy Power become business partners both Betfair and Sportsbet would pay a race product fee from day one, just like the agreement between Australian TAB's. In layman's terms its called one way traffic unfortunately one way easily leads to a dead end!    

Well over a year on they agree but strangely just as a new commercial deal is reached Paddy Power agree to pay race field fees.

Does anyone this any Fortune 500 Company would allow a clause like that to not be included re paying fees on product taken from a host organisation. Only way it could happen is if the two people representing the Organisation are clueless and are out of their depth to be negotiating contracts on behalf of their company. Two years later after lost income that on a business partnership should have been received is going to happen. Unbelievable although the most unbelievable situation is that these two people along with another hanger on have gone to Ireland to represent the NZ Racing Industry's wagering interests again. You couldn't make it up.

And you think when the true financial situation shit of the NZ Racing Industry soon's hits the fan the NZ Public are not going to say 'you guys got what you deserve?