RaceCafe..#1...Tipsters Thread.... Share Your Fancies For Fun...Lets See Who The Best Tipsters Here Are.
shaneMcAlister

The great $50M system with annual $17M maintenance

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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.

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But 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.

 

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John 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

 

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On 5/23/2021 at 8:09 PM, Southland said:

Makes you wonder how much of the odds management is manual or system generated. Yes lots of delayed changes close to market close.

The other thing that’s not yet sorted is the Top 2/3/4 market. For some reason the div to run 2nd is less than to run 3rd.

ie $6 2nd ,$8 3rd, $5 4th

 

image.thumb.jpeg.9e2f3ecbf14d9542c2b3ec42906ceb56.jpeg
Case in point, horses 15 & 20. Top 2 and top 3 FF divs nonsensical. Regular occurrence for those horses long in the market.
 

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Seems to be question of integrity...

If you have a government that doesn't like gambling, what do you do to the current gambling platforms?

If you don't like gambling, what do you do to the story board to ensure people don't think gambling is Kosha?

If you want to make sure betting fails, what sort of legislative umbrella do you deploy to ensure that a "cover from up above" exists?

If you want to make sure  that management don't have a chance of getting it right, what sort of management do you get?

Next Please.... PFP has a very good point of logic. If you offer in running betting, and odds are posted because the event has not yet been completed, then the TAB should honor any bet placed during the bet being open because the logic follows that in the aforementioned golf tournament, with two holes to go, you should not take people's bets on players that have absolutely no possibility of winning.

Do you accept a bet when you know it cannot win IF you are a governmental department opposed to betting?

As I said, i's a question of integrity.

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My point is that this isn't a localised issue. It's standard with most bookmakers around the world - both not accepting wagers on incorrect odds and providing odds for players with no chance of winning.

If you have an issue, don't take it up with the TAB. They mirror offshore bookmakers and often offer identical betting markets (including in-play).

 

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23 hours ago, LightsOut 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.

Fuck you talk some rubbish.

Current NZTAB who inherited the current dog of a website and 100 plus million of debt bears no resemblance to Allen's mob . New CFO,CEO COO and New board for starters. we know from your posts how much you dislike TAB but try and be factual , just for change.

You only have to look at financial success by those  that you describe as "Guiding the rudderless ship" Codes just been given an additional bonus 5 mio and 20 mio of debt taken out of balance sheet. Cost cuts are obviously working for that to occur.

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46 minutes ago, NextPlease said:

My point is that this isn't a localised issue. It's standard with most bookmakers around the world - both not accepting wagers on incorrect odds and providing odds for players with no chance of winning.

If you have an issue, don't take it up with the TAB. They mirror offshore bookmakers and often offer identical betting markets (including in-play).

 

I understand the process of the "catch all" default but that does not help relationships and the public's image. A person has a bet, he takes the odds offered, the bet wins and he isn't paid out. That's what the public sees in mainstream media. That image is exacerbated via us all talking about it in a wider forum. To mitigate the damage, the TAB's  Board and public relations manager should initiative a very public enquiry to ensure the integrity of the system and its operations are maintained. That should have happened instantly. How else do you put out the fire or lance the festering sore?

Your approach to the topic smatters of sustaining the current status quo in respect of the present manner of operations. As a person of unquestionable integrity, are you OK with your current position?

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Yes - what I'm not OK with is a punter placing a bet nearing the end or after a match has been completed and expecting to be paid out. Regardless of the odds being displayed incorrectly or not.

It's obviously a technical glitch to display pre-live markets for an in-play game, where the odds didn't move at all during the 90-minute game time window.

If you win a jackpot at the casino and there's a technical glitch or a power cut, guess what happens... your winnings are void.

It's not a perfect system, but it happens with EVERY bookmaker. Technical mistakes happen, punters place bets on incorrect odds and are refunded. It's a daily occurence.

 

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I remember when people were angry at the TAB for not updating results from Australia. The problem was Sportsbet hadn't updated their results because of a system failure.

See my point? We take our odds from offshore bookmakers... Should we do that? Of course not, but we don't have any real bookmakers here to do the job themselves.

Now.. for $50mil +, you would expect a flawless system. Bet365 is the biggest bookmaker in the world and still makes these same errors, so there is no real issue here.

 

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1 hour ago, NextPlease said:

Yes - what I'm not OK with is a punter placing a bet nearing the end or after a match has been completed and expecting to be paid out. Regardless of the odds being displayed incorrectly or not.

It's obviously a technical glitch to display pre-live markets for an in-play game, where the odds didn't move at all during the 90-minute game time window.

If you win a jackpot at the casino and there's a technical glitch or a power cut, guess what happens... your winnings are void.

It's not a perfect system, but it happens with EVERY bookmaker. Technical mistakes happen, punters place bets on incorrect odds and are refunded. It's a daily occurence.

 

Yes, we acknowledge and accept you're not okay. Every second post!! Are you on the TAB payroll now?

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16 minutes ago, Idolmite said:

Yes, we acknowledge and accept you're not okay. Every second post!! Are you on the TAB payroll now?

Sorry Idolmite - I was asked a question and I provided my answer.

Is that OK with you? This is a public forum, correct?

At least my responses are to the topic at hand. Yours are just rubbish.

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2 hours ago, NextPlease said:

Yes - what I'm not OK with is a punter placing a bet nearing the end or after a match has been completed and expecting to be paid out. Regardless of the odds being displayed incorrectly or not.

It's obviously a technical glitch to display pre-live markets for an in-play game, where the odds didn't move at all during the 90-minute game time window.

If you win a jackpot at the casino and there's a technical glitch or a power cut, guess what happens... your winnings are void.

It's not a perfect system, but it happens with EVERY bookmaker. Technical mistakes happen, punters place bets on incorrect odds and are refunded. It's a daily occurence.

 

That's not the response I would expect from a non conflicted person. Do you have an affiliation with the TAB? In plain language, do you receive any form of remuneration from the TAB?

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I receive rebates for a losing month, but that's it.

I have openly critised the TAB many times, including on here and via email to the TAB.

However, I don't believe this issue has as much to do with the NZ TAB than it does with the global bookmaking practice/rules.

I would not expect to get paid out if I place a bet after the game is finished. JMO (to steal a redundant acronym from the site owner).

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10 hours ago, NextPlease said:

My point is that this isn't a localised issue. It's standard with most bookmakers around the world - both not accepting wagers on incorrect odds and providing odds for players with no chance of winning.

If you have an issue, don't take it up with the TAB. They mirror offshore bookmakers and often offer identical betting markets (including in-play).

 

My take on it is that the status quo is wrong ,just because it is common practice doesnt make it right.My earlier post compared stock market futures( gambling in a " live event") and the protected status for bookmakers being allowed to cancel a contract when they lose AFTER THE EVENT,call a spade a shovel and stop defending these crooks just because they all do it.

 

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Betting in the running is a hugely subjective undertaking; particularly for the odds setters.  I have listened to a rugby test match and watched the variations in odds on Betfair.  A full back knocks on a long kick, and the odds flutter.  Being a bit of a nerd I find it fascinating to watch, whilst the radio commentary is on in the background.  A batsmen smashes consecutive balls between point and cover; he has his eye in; and the odds flutter.  Setting odds for in the running is a job for the highly intelligent who have a calculating mind.  

Everything I have seen and read about TAB New Zealand suggests to me that those attributes are as rare in Jackson Street, Petone as molars are in egg laying machines.  Hence they must have extensive exemption clauses to phix up their phuck ups.

Edited by Tauhei Notts
grammar

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1 hour ago, Tauhei Notts said:

Betting in the running is a hugely subjective undertaking; particularly for the odds setters.  I have listened to a rugby test match and watched the variations in odds on Betfair.  A full back knocks on a long kick, and the odds flutter.  Being a bit of a nerd I find it fascinating to watch, whilst the radio commentary is on in the background.  A batsmen smashes consecutive balls between point and cover; he has his eye in; and the odds flutter.  Setting odds for in the running is a job for the highly intelligent who have a calculating mind.  

Everything I have seen and read about TAB New Zealand suggests to me that those attributes are as rare in Jackson Street, Petone as molars are in egg laying machines.  Hence they must have extensive exemption clauses to phix up their phuck ups.

I dont think the odds are relevant at all in this case ,I think the real sticking point is from the moment the bet was placed what was the response from the bookies and what was the timeline? ,how long until the final whistle on the final game?,how many minutes( we get 60 seconds) until they cancelled the bet?,was the punter offered a cash out option? A line needs to be drawn for the benefit of all.This stinks to high heaven

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On 5/26/2021 at 12:54 PM, NextPlease said:

I receive rebates for a losing month, but that's it.

I have openly critised the TAB many times, including on here and via email to the TAB.

However, I don't believe this issue has as much to do with the NZ TAB than it does with the global bookmaking practice/rules.

I would not expect to get paid out if I place a bet after the game is finished. JMO (to steal a redundant acronym from the site owner).

Well that's the point in this case. The event hadn't finished when the bet was made and the bet event was In Running. So PFP is right in calling you out (maybe not the expressive version). None-the-less, he was factually correct. He posted the timeline so provided the appropriate data to corroborate the position. Others have provided similar examples, in respect of bets, subsequent to the discussed event, so one would conclude that the TAB should hold an inquiry, make it public and proved a reasoned response. That would also placate the evil greenies in thinking everything had a conspiracy theory attached to it

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On 5/27/2021 at 5:46 PM, NextPlease said:

Sure. The football matches may have had a few minutes remaining in games that had at least 5 minutes of extra time added.

 

Oh come on....be charitable because it's the right thing to do and you're not quite right in the debate. Hanging on in when the stack has tipped just exposes the cracks.

In this instance, the best thing the TAB could do is open source  proper inquiry and to reach a conclusion that is consistent to applying morals, integrity and good business practise to a mistake.

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poundforpound - do you not recognize abuse, your self? No worry.

Complaints should be addressed to the C.E.O. of the T.A.B. also, as well as spleen-venting here.

As I said, the victim should take T.A.B. to court, if he thinks that he has a strong case. 

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All six of the games Nepe bet on started at 2am, the same time the alleged technical malfunction occurred. He laid the bets at 3.48am, towards the end of the matches.

Towards the end.... all six games would have been in injury time, and we're meant to feel bad for this guy?

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