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Roadshows?

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I think the roadshows were postponed due to Covid lockdown. 
 

New dates below

Thursday 10 September – 12pm-2pm, Takitimu Room, Ascot Park Hotel, Invercargill                     

Thursday 10 September – 5-7pm, Winning Post Lounge, Wingatui Racecourse

Friday 11 September – 1pm-3pm, Balmerino Room, Riccarton Racecourse           

Monday 14 September – 11am-1pm, Fosters Lounge, Te Rapa

Monday 14 September – 4.30pm-6.30pm, La Mer Lounge, New Plymouth

Tuesday 15 September – 11am-1pm, Silks Lounge, Awapuni racecourse

 

Bernard S and Dean M have been saying betting on racing is up close to 14% (if memory is right).  That is positive and does indicate that big fields are an important driver in turnover. However I still fear for the future and attracting new owners without stake money, the oncourse experience etc

 

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1 hour ago, shaneMcAlister said:

I think the roadshows were postponed due to Covid lockdown. 
 

New dates below

Thursday 10 September – 12pm-2pm, Takitimu Room, Ascot Park Hotel, Invercargill                     

Thursday 10 September – 5-7pm, Winning Post Lounge, Wingatui Racecourse

Friday 11 September – 1pm-3pm, Balmerino Room, Riccarton Racecourse           

Monday 14 September – 11am-1pm, Fosters Lounge, Te Rapa

Monday 14 September – 4.30pm-6.30pm, La Mer Lounge, New Plymouth

Tuesday 15 September – 11am-1pm, Silks Lounge, Awapuni racecourse

 

Bernard S and Dean M have been saying betting on racing is up close to 14% (if memory is right).  That is positive and does indicate that big fields are an important driver in turnover.

 

How do you/they work out that is due to bigger fields. Is that TR turnover only?

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Careful. Statistics can be tuned to suit oneself. If 10 races were held and a total of $100 was bet, average turnover per race would be $10. If only 5 races were held the following year and a similar $100 was bet, average turnover per race would be $20, an increase of 100% per race over the previous year! :) 

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Bernard S and Dean M have been saying betting on racing is up close to 14% (if memory is right).

Up 14% based on what period? Compared to April & May figures?

Turnover will be up when your giving money back on every race if your runner finishes 2nd - 4th plus along with Bonus Bets at most meetings. I know one punter who has had 6 bets refunded back in a row, each time the codes I am sure get a % of turnover so that's more expense that the Industry must absorb.  

 

Quote

TAB staff and racing code bosses have been told of an error inside the new fixed odds betting platform (which runs the TAB betting website) which effectively meant bonus bets were being counted twice.That has resulted in the TAB's income being overstated by $1.6 million in the year till July 31, 2019 as well as further double counting in the six months to February this year.

March 20th:
TAB chairman Dean McKenzie told the Herald there is no hiding from the error but an independent review will be undertaken to discover exactly how it happened and who or what is at fault 
 
The $1.6 million should have been picked up by the Auditors when doing last years Annual Accounts. So they paid the Auditors a fortune to do the accounts and because they didn't pick up the error they look to pay an independent reviewer to find why and where.  RITA were put in charge of all of the TAB's financial matters so the buck stops with them. Nearly 6 months on from the so called independent review and yet nothing reported to the Industry on the findings. When your going cap in hand with no money in the bank and owing tens of millions you have to have a sharper handle on financial matters.
 
A monopoly situation was fine prior to the advent of the Internet. Companies who have monopolies get lazy and offer poor customer service eg Telecom and they don't pick up their act until competition arrives. Unfortunately the TAB management over the years didn't regard overseas bookmakers as a real threat and when they did the race was over.  Even knowing they have lost thousands of customers to overseas competitors their customer service is poor, just ask any punter what they think of the TAB and its service. 
 
As for the disaster of the new betting platform what Company allows itself to get locked into a 10 year non-cancellable  contract? They paid for it to be built but don't own it yet they pay $17 million a year to service it. 10 year locked in contract so why the hell would you be looking to outsource your betting? Remembering Jetbet used to do both tote and fixed odds so now you have two betting platforms doing essentially what one did previously. How did the TAB Board and TAB in-house lawyers allow that to happen?
 
The Racing Act demands the TAB to be prudent and excercise financial care to ensure the Industry can prosper clearly given the total mess of the betting platform cost and ongoing costs verse return that didn't happen.  
 
You want move forward those two steps will get the ball rolling other than it's well not hard to work out the end result.
 
Get rid of the TAB's monopoly and let overseas bookmakers operate in NZ as long as they pay their fair % to the Industry and get rid of the DIA's involvement in having anything to do with the future well being of the Industry, 9-5 public servants are clueless as to what is needed as has been proven n the past.    
 

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14 hours ago, slam dunk said:

yes thats real "smart" Govt bails out the industry overseas parasites move in !!!

I do personally  believe we should support the local entity,does anyone know if the nz tab racing setup get paid by overseas bookmakers.

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yes thats real "smart" Govt bails out the industry overseas parasites move in !!!

The Government partly had to bail them out due to piss poor management and customer service two areas that would vastly improve with locally based competition. It actually might save the Government from forking out millions in the future as it would result in the NZ TAB having to actually be more committed to what it is supposed to be doing eg been a more cost and dedicated Company.   

Past results have clearly shown 'parasites' of the Industry don't exactly  have to reside overseas to feed from it. Maggots are parasites but if used for beneficial reasons they way can actually improve a situation. If Aussie Bookmakers were allowed a presence in NZ & were required to pay the same Industry fees that the NZ TAB pays then their can't be a problem. The two biggest factors from such a move would be obviously more money to the Industry and the NZ betting customers  receiving a better service than what has been provided over the past number of years.

Monopolies usually pay a price to retain a monopoly but sadly the only one paying with regards to betting in NZ is the poor customer.  

The payment by Aussie bookmakers on NZ gallops race field fees would be better regulated here in NZ than overseas. Bookmakers are well known for avoiding paying tax on large bets by not recording them officially. If they can get out of paying fees or taxes on a reduced level they will. Overseas travel and new BMW's have to be updated every 12 months somehow and every dollar helps the cause. Voluntary and the full payment of race field fees by Bookies as proposed won't be recognised by all of them, that's money back odds.     

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