TAB looking after customers & listening

[barryb 1,920]

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.

[100 1 1,294]

https://www.nzherald.co.nz/sport/michael-guerin-huge-betting-announcement-will-change-the-way-kiwis-bet/RGGWTIAO26XTTUBPWGDZRPCO44

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[JOT 46]

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.

[Tauhei Notts 1,158]

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.