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

TAB looking after customers & listening

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This is very bold and a leading idea from the TAB, will win many customers back from Aus bookies. It’s a sign they may be taking there customers seriously and are listening to feedback.

Hi Barry, 

Today we are introducing Punters Promise. This is our promise to you that every punter will get a fair crack to take us on and win big with TAB. We are now guaranteeing to sell all of our customers a bet to win at least $2,000 on all three domestic racing codes.

We know there is nothing worse than finding a horse or dog you like at good odds, but then getting your bet limited when you try to get on. We also know that we need to ensure we are maximising the returns to New Zealand’s racing and sports communities, so it is a balancing act for us, but we are committed to operating a level playing field for all of our customers.

Here’s what you need to know about Punters Promise:

  • It’s available on all New Zealand racing and on all three codes
  • It’s available as soon as a market opens, right through to the jump
  • It’s available on the fixed odds win market as soon as the odds are available, and
  • It guarantees customers a $2,000 win threshold across every race, calculated as a bet to win amount

For example: a horse/dog at odds of $5, we will guarantee to sell each customer a $500 bet, to win $2000 ($500 x $5 = $2,500 potential return, less $500 stake = $2000 potential win amount)

How does this compare to Australian betting operators and the Minimum Bet Limits (MBLs)?
It’s much better! Australian betting operators are forced to comply with the terms and conditions of each state’s racing administrative body, so they’re not offering the MBLs by choice. This means that there are varying thresholds in place and different conditions which makes it very confusing, but we’ve simplified it:

  • While $500 is the lowest threshold (provincial harness and greyhounds), we’ve decided to adopt the highest threshold ($2,000) in Australia (which exists for metropolitan thoroughbred racing) for Punters Promise, across all three codes.
  • In Australia, most of these MBLs only apply on the day of the race meeting. We’re committed to letting our customers have a fair crack from the time that we release our odds, so Punters Promise will apply as soon as the market is available to bet on.

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Not sure if they are looking after customers.

If I backed a $6 chance at $500, BUT my betting history says I am a pro then like Aussie, they offer the price @4.80 to give the $2000 payout but still keeps within there mark (2000 payout)

So the point is, 2000 is where they set the line.

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I am concerned about the funds our TAB pays to sporting bodies.

I looked through the April - June 2022 figures for Points Bet Holdings, a listed Australian company.

Their Canadian subsidiary held sports bets totalling CAD16,000,000.  Their net win on that turnover was CAD200,000.  Yes, that's right.  1.25% of turnover.

Sports betting is nowadays hugely competitive and various sporting outfits will be looking for a big payout on all the huge betting turnover they generate.  But that betting has a minuscule profit.

In sports betting turnover is an irrelevant figure.  Nett margin is a much more important figure, and really, the only figure that matters.

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Wow now this is really customer leading. Email from the TAB today.

Today, we've launched what could be a world-first for customers over the spring racing period by removing deductions for fixed odds Final Field win and place betting. To put it simply: no deductions - no surprises.

What you see is what you'll get, so the price when you place your fixed odds bet is the price you'll get if your horse or greyhound wins or places. It doesn't matter if there's one, two, or even six scratchings between when the Final Field market opens right through to the start of the race - or even after it.

And we've removed the frustration that you get when you get less back on a winning bet than you thought you would due to a well-supported runner being scratched. We're sure our racing fans will appreciate this innovation ahead of the awesome spring racing over the next few months.

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Mike Tod CEO of TAB provided this For NZ Owners Bulletin Winter issue 2022

TAB NZ well placed for opportunities ahead

 

A lot has changed within the racing industry over the past few years and TAB NZ is no different.

 

As readers may be aware, our organisation has transitioned from the New Zealand Racing Board, through to the Racing Industry Transition Agency, and we’re now entering our third year as TAB NZ. 

 

These changes came about through Government-driven reforms, and now those reforms are well embedded, we’re wasting no time at TAB NZ about looking ahead to growing the returns for everyone in the industry — trainers, breeders, jockeys, drivers, stablehands, and of course you, the owner.

 

Since taking up the role of TAB NZ Chief Executive Officer in late March, I have been buoyed by the support from a strong and experienced Board and a highly capable Executive Leadership Team as we’ve embarked on a growth strategy for the business. 

 

The Racing Industry Act explicitly outlines our objectives as maximising profits for the long-term benefit of New Zealand racing and returns to New Zealand sport, so this underpins all of the workstreams that will flow from the strategy.

 

There is so much opportunity ahead for the business to make an even more positive impact on racing, sport and communities in New Zealand, and to build on the more than $204 million we are on track to distribute in the 2021/22 financial year. 

 

The increased amounts we’ve been able to deliver to NZ Thoroughbred Racing and the other racing codes have helped them plan for future growth as NZTR has done in its latest 2023-25 Statement of Intent.

 

But to be clear, TAB NZ’s future is not without its headwinds.  We face stiff competition from online offshore competitors, and are keeping a close eye on the domestic macroeconomic environment as consumer confidence falls.

 

Nevertheless, we are confident in our ability to navigate these as we are focused on building a world-class betting organisation that delivers more personalised and relevant products and services to its customers to drive higher profitability. We'll utilise the best of deep strategic global partnerships to underpin much of our success.

 

We are having conversations with the Government on the current and future state of online gambling in New Zealand. While reforms such as the betting use information charge (better known as the “racefields” legislation) and the point of consumption charge have delivered extra returns since their inception, the presence of international digital competitors that continue to operate outside of New Zealand’s regulatory settings, and with no legislative mandate to prioritise responsible gambling, is a concern for TAB NZ. 

 

We have a legislative requirement to put customer safety before profit and to inject all of its returns and profit back into the New Zealand community. In contrast, our competitors are not subject to New Zealand's legislative framework, and profits derived from their activity in New Zealand are not required to be distributed back to the New Zealand racing and sporting sectors.

 

We estimate more than $130m in wagering profit is directed offshore to competitors. This money is lost to the New Zealand economy, and especially the sporting and racing sectors. In addition to this, our conservative estimates show that a further $600m is being lost by Kiwis on other gambling products that are not able to be offered online by domestically regulated New Zealand online gambling providers.
 

We’ll continue these conversations with Government Ministers and their officials to ensure a level playing field in the digital gambling sector so TAB NZ can continue to grow our returns to New Zealand racing, sports and communities.

 

So, if you bump into your local MP or a Cabinet Minister, don’t be backward in reminding them that every day TAB NZ has one hand tied behind its back and that racing in New Zealand is being held back by legislation that is sending hundreds of millions of dollars offshore each year. 

 

As owners, you pay the bills to keep your horses campaigning —therefore providing us with content for both Kiwi punters and further abroad  — well-fed and cared for, and spelling in good paddocks so I know you will be watching our progress with interest.  Our success and yours is inextricably linked.

 

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3 minutes ago, NextPlease said:

I have been made aware to read the terms and conditions re: how many times you can benefit.

These are the published Ts&Cs.

  • Promotion ends 23:59 Sunday 13 November.
  • TAB may, without limitation, withdraw a customer's eligibility (including both online and in TAB retail venues) for this Promotion at any time. TAB may also cancel this Promotion without notice, or amend the terms and conditions of the Promotion without notice.
  • Bets remain subject to the TAB Betting Rules and the TAB Privacy Policy.

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1 hour ago, Nerula said:

Mike Tod CEO of TAB provided this For NZ Owners Bulletin Winter issue 2022

TAB NZ well placed for opportunities ahead

 

A lot has changed within the racing industry over the past few years and TAB NZ is no different.

 

As readers may be aware, our organisation has transitioned from the New Zealand Racing Board, through to the Racing Industry Transition Agency, and we’re now entering our third year as TAB NZ. 

 

These changes came about through Government-driven reforms, and now those reforms are well embedded, we’re wasting no time at TAB NZ about looking ahead to growing the returns for everyone in the industry — trainers, breeders, jockeys, drivers, stablehands, and of course you, the owner.

 

Since taking up the role of TAB NZ Chief Executive Officer in late March, I have been buoyed by the support from a strong and experienced Board and a highly capable Executive Leadership Team as we’ve embarked on a growth strategy for the business. 

 

The Racing Industry Act explicitly outlines our objectives as maximising profits for the long-term benefit of New Zealand racing and returns to New Zealand sport, so this underpins all of the workstreams that will flow from the strategy.

 

There is so much opportunity ahead for the business to make an even more positive impact on racing, sport and communities in New Zealand, and to build on the more than $204 million we are on track to distribute in the 2021/22 financial year. 

 

The increased amounts we’ve been able to deliver to NZ Thoroughbred Racing and the other racing codes have helped them plan for future growth as NZTR has done in its latest 2023-25 Statement of Intent.

 

But to be clear, TAB NZ’s future is not without its headwinds.  We face stiff competition from online offshore competitors, and are keeping a close eye on the domestic macroeconomic environment as consumer confidence falls.

 

Nevertheless, we are confident in our ability to navigate these as we are focused on building a world-class betting organisation that delivers more personalised and relevant products and services to its customers to drive higher profitability. We'll utilise the best of deep strategic global partnerships to underpin much of our success.

 

We are having conversations with the Government on the current and future state of online gambling in New Zealand. While reforms such as the betting use information charge (better known as the “racefields” legislation) and the point of consumption charge have delivered extra returns since their inception, the presence of international digital competitors that continue to operate outside of New Zealand’s regulatory settings, and with no legislative mandate to prioritise responsible gambling, is a concern for TAB NZ. 

 

We have a legislative requirement to put customer safety before profit and to inject all of its returns and profit back into the New Zealand community. In contrast, our competitors are not subject to New Zealand's legislative framework, and profits derived from their activity in New Zealand are not required to be distributed back to the New Zealand racing and sporting sectors.

 

We estimate more than $130m in wagering profit is directed offshore to competitors. This money is lost to the New Zealand economy, and especially the sporting and racing sectors. In addition to this, our conservative estimates show that a further $600m is being lost by Kiwis on other gambling products that are not able to be offered online by domestically regulated New Zealand online gambling providers.
 

We’ll continue these conversations with Government Ministers and their officials to ensure a level playing field in the digital gambling sector so TAB NZ can continue to grow our returns to New Zealand racing, sports and communities.

 

So, if you bump into your local MP or a Cabinet Minister, don’t be backward in reminding them that every day TAB NZ has one hand tied behind its back and that racing in New Zealand is being held back by legislation that is sending hundreds of millions of dollars offshore each year. 

 

As owners, you pay the bills to keep your horses campaigning —therefore providing us with content for both Kiwi punters and further abroad  — well-fed and cared for, and spelling in good paddocks so I know you will be watching our progress with interest.  Our success and yours is inextricably linked.

 

There is a mountain of cockamamie in that statement, the sole reason punters went elsewhere is purely because of the way they got treated. They weren't valued, not offered competitive products & seen as expendable.

Things might be changing for the better with initiatives like the $2000 win minimum & now this above, but forgive us punters for being skeptical as you are often defined by your past. These 2 initiatives will certainly go a long way to boosting turnover with money flooding back from overseas, I guess that assists them in showing the Govt that the legislation they seek is positive.

Hopefully the policy makers are smart enough to see through some of this & lock in the gains punters have currently before isolating us from having our own choice on what we can do. We are a different beast to Australia  & making reference to legislation restrictions there is incomparable  when we will have 1 selection option and not 10 like they do.

 

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23 minutes ago, Idolmite said:

Whatever happened to that dude with his 'winning' all-up football bet from many months ago that the TAB refused to pay out on, at the odds that he got on at?

That was an easy one. TAB shouldn't have paid him out and they didn't.

For anyone who has placed a bet on odds that shouldn't have been posted knows this, and has experienced this.

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32 minutes ago, barryb said:

There is a mountain of cockamamie in that statement, the sole reason punters went elsewhere is purely because of the way they got treated. They weren't valued, not offered competitive products & seen as expendable.

Things might be changing for the better with initiatives like the $2000 win minimum & now this above, but forgive us punters for being skeptical as you are often defined by your past. These 2 initiatives will certainly go a long way to boosting turnover with money flooding back from overseas, I guess that assists them in showing the Govt that the legislation they seek is positive.

Hopefully the policy makers are smart enough to see through some of this & lock in the gains punters have currently before isolating us from having our own choice on what we can do. We are a different beast to Australia  & making reference to legislation restrictions there is incomparable  when we will have 1 selection option and not 10 like they do.

 

Good post Barry. It’s because of the competition that the tab have upped there game. 

You would have to think if they were to block offshore competitors there wouldn’t be as much incentive to be innovative and competitive. 

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57 minutes ago, NextPlease said:

That was an easy one. TAB shouldn't have paid him out and they didn't.

For anyone who has placed a bet on odds that shouldn't have been posted knows this, and has experienced this.

 

Well from memory they did pay out, then took it back. 

And yet when Noel Leeming put the incorrect price on a giant Tele, under what it was supposed to be by thousands, they stand by it. Maybe because they accept it was their error and the customer is always right? Maybe for fear of the bad publicity, I don't know, but I really don't see any difference. The advertised price is the responsibility of the seller, surely?

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I agree, but it's in the rules on the TAB, so there's nothing you can do about it.

Also. Thinking you can get pre-game odds when the team is 2-0 with a minute to play...the guy knew what he was doing and tried to take advantage. I saw wrong odds posted many times, I'd place the bet and eventually get refunded even though the funds were in my account. 

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I'm not trying to do anything about it. Last I read in the media there was going to be a discussion or negotiation. Just never read the outcome, although I imagine even if the TAB did make some form of token payout they wouldn't be telling us about it.  

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15 hours ago, NextPlease said:

The second bullet point is of great concern

Why? 

Stops the crooks who want to manipulate betting to where they are the only winners. Great move by TAB IMO although there will always be moaners as witnessed elsewhere

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16 hours ago, barryb said:

There is a mountain of cockamamie in that statement, the sole reason punters went elsewhere is purely because of the way they got treated. They weren't valued, not offered competitive products & seen as expendable.

Things might be changing for the better with initiatives like the $2000 win minimum & now this above, but forgive us punters for being skeptical as you are often defined by your past. These 2 initiatives will certainly go a long way to boosting turnover with money flooding back from overseas, I guess that assists them in showing the Govt that the legislation they seek is positive.

Hopefully the policy makers are smart enough to see through some of this & lock in the gains punters have currently before isolating us from having our own choice on what we can do. We are a different beast to Australia  & making reference to legislation restrictions there is incomparable  when we will have 1 selection option and not 10 like they do.

 

Thens then, now is now. A new broom in charge now. Not some stale old retread.

I will put up on Kieran Mc Anulty thread where he is coming from. Looks like Labour will slam the door on offshore betting.

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