Al Feilding

BGP punters club 😲

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Last one for me. Their best bet and early bet was Probabeel ($40,000 to win) and yet when they got desperate they were firing $30K, $50K on this and that on a whim. C Waller had told them his best chance of the day was Coastwatch and they put nothing on it.

Yes they got out with a $50K quinella, but when they did (and this was at almost the end of the day) they were looking at meetings at Hicksville to try to bet more. 

I admire their spirit, enthusiasm and the interest they generate in the sport, but please stop leaving the punting to amateurs 

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5 hours ago, Spikecity said:

Last one for me. Their best bet and early bet was Probabeel ($40,000 to win) and yet when they got desperate they were firing $30K, $50K on this and that on a whim. C Waller had told them his best chance of the day was Coastwatch and they put nothing on it.

Yes they got out with a $50K quinella, but when they did (and this was at almost the end of the day) they were looking at meetings at Hicksville to try to bet more. 

I admire their spirit, enthusiasm and the interest they generate in the sport, but please stop leaving the punting to amateurs 

Sour grapes !

They do a great job fir the industry ….can’t you applaud them instead of putting the boot in ?

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6 hours ago, Spikecity said:

Last one for me. Their best bet and early bet was Probabeel ($40,000 to win) and yet when they got desperate they were firing $30K, $50K on this and that on a whim. C Waller had told them his best chance of the day was Coastwatch and they put nothing on it.

Yes they got out with a $50K quinella, but when they did (and this was at almost the end of the day) they were looking at meetings at Hicksville to try to bet more. 

I admire their spirit, enthusiasm and the interest they generate in the sport, but please stop leaving the punting to amateurs 

Punters clubs are all about generating turnover, not making money for their members. If they were $1m up after three races they wouldn't have stopped, they would have kept turning it over. That is the nature of the beast.

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1 hour ago, poundforpound said:

Sour grapes !

They do a great job fir the industry ….can’t you applaud them instead of putting the boot in ?

Nobody is disputing that PF4 but this whole punters club was pretty poorly run considering they had almost 300k involved. Luke, at the conclusion, noted a 90% return to all stakeholders whish is slightly misleading. A 90 % return would normally be based on 90% plus the return of the original capital. Not 90% of the original capital 

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3 hours ago, Mazz and Dalts said:

Nobody is disputing that PF4 but this whole punters club was pretty poorly run considering they had almost 300k involved. Luke, at the conclusion, noted a 90% return to all stakeholders whish is slightly misleading. A 90 % return would normally be based on 90% plus the return of the original capital. Not 90% of the original capital 

For the love of Mary .....

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5 hours ago, Mazz and Dalts said:

Nobody is disputing that PF4 but this whole punters club was pretty poorly run considering they had almost 300k involved. Luke, at the conclusion, noted a 90% return to all stakeholders whish is slightly misleading. A 90 % return would normally be based on 90% plus the return of the original capital. Not 90% of the original capital 

That would be a 190% return in most eyes, I suspect.

190% return = 90% profit. Return/Profit. That's where you're getting confused.  

90% return = 10% loss.

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12 hours ago, Archer said:

So the TAB gave the BGP  $ 28,000 back  ?

I don't know what all the breakdowns are these days but I assume they spent well over $500,000, so the TAB probably made about $50,000 from various deductions. The big winner of course would have been the Govt with GST and other duties, we shouldn't really begrudge them that, they need all the money they can get these days.

The big problem with punters clubs is that some punters invest their $10 or so and that is their total direct investment for the day, they then get their interest for the day from following the club bets rather than putting on any more bets of their own. So the Club needs to churn the money over as much as possible so there is a net benefit for the day.

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12 minutes ago, We're Doomed said:

I don't know what all the breakdowns are these days but I assume they spent well over $500,000, so the TAB probably made about $50,000 from various deductions. The big winner of course would have been the Govt with GST and other duties, we shouldn't really begrudge them that, they need all the money they can get these days.

The big problem with punters clubs is that some punters invest their $10 or so and that is their total direct investment for the day, they then get their interest for the day from following the club bets rather than putting on any more bets of their own. So the Club needs to churn the money over as much as possible so there is a net benefit for the day.

Well said, it was once again a marvelous effort by BGP to get others interested in TB racing.

As a bonus it was cheap marketing/advertising for NZTAB given the likely future multiplier effect of the promo. It also IMO showed how  each party worked with the other to get  a positive outcome for both entities.

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13 hours ago, Idolmite said:

That would be a 190% return in most eyes, I suspect.

190% return = 90% profit. Return/Profit. That's where you're getting confused.  

90% return = 10% loss.

I'm not confused at all. When Milford or Fisher Funds or any Fund announces a, for example, 23% return for 2021 what do you think that means?? they don't announce a 123% return. 

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4 hours ago, Mazz and Dalts said:

I'm not confused at all. When Milford or Fisher Funds or any Fund announces a, for example, 23% return for 2021 what do you think that means?? they don't announce a 123% return. 

But on that case doesn't your original investment stay in place? So yes, if you're only taking the interest your return IS 23% in that case. That's not the case in something like a Punter's Club. You get your share of everything left at the end of each day, so the return included your original "investment". 

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1 hour ago, Idolmite said:

But on that case doesn't your original investment stay in place? So yes, if you're only taking the interest your return IS 23% in that case. That's not the case in something like a Punter's Club. You get your share of everything left at the end of each day, so the return included your original "investment". 

I can see your point mate. Perhaps, in order to be less ambiguous, the correct statement would have just been ' a 10% loss'. It is neither here nor there though, good for racing and good for the TAB and good for the Government so, net net, its positive 

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6 hours ago, Mazz and Dalts said:

I'm not confused at all. When Milford or Fisher Funds or any Fund announces a, for example, 23% return for 2021 what do you think that means?? they don't announce a 123% return. 

Exactly. A return is defined as a profit on an investment. This is not a return it is a loss. Even after the TAB top up there is no return. Calling it a return is very misleading.

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6 hours ago, Mazz and Dalts said:

I'm not confused at all. When Milford or Fisher Funds or any Fund announces a, for example, 23% return for 2021 what do you think that means?? they don't announce a 123% return. 

Racing jargon in use is somewhat different to the norm.

Maybe the gambling aspect dictates this or having a flutter refers to the money being thrown into the wind to flutter around or simply blown away.

Or flushing the money down the dunny......the expectation for it to return is low.

The same jargon is commonly used in horse ownership.

The return to NZ owners is 23% [ NSW is 48%] and that means stakes money paid back equates to 23% of the costs....loss of 77%.

I've heard it said that only 5% of those  folk betting on horses actually make money......to get 90 % of your flutter back is a happy result ...mostly !

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Don’t let the perfect get in the way of the good.

I put $25 into BGP club and was also on the zoom call with about 200 other participants for the afternoon.  It was a heck of a lot of fun & a great way to spend a wet locked down Saturday afternoon!

BGP have asked for feedback on what could be done differently next time - plenty of opportunity to provide feedback through their social media.

I’ll be in the next one.

 

 

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