Interesting read.

[Mark]

http://www.justracing.com.au/

[Shaun]

To a point he makes sense, but for it to work the prices would have to be tied together with some sort of matching process for it to work.

As betfair does now for a punter to get a particular price another person has to be willing to lay at that price.

With TAB the price is dictated by the amount of money on a particular runner.

Would it be as simple as saying i want to lay the fav at $3 to win $10 so i hand over $20 or would i have to hand over $30 to create the pool.

Would it work as a par mutual pool, i can't see this being possible as you would not know what you are going to lose so how would they know what you should be paying.

Betfair pool has both sides in the market so a $100k pool is $50k of back and $50k of lay so looking at the same situation if they were all backing and laying that fav at $3 then the tab would get 15c for every $2 invested so that is $7.5k for this market, they would have to double the current betfair take out to match what they get from a race now.

Not sure if the maths work out correct as the higher the price of the winner the more a backer pays.

the TABs are just not interested in change.

[norisk]

the TABs are just not interested in change.

This is the real issue - if they still refuse to accommodate emergencies in the Melb Cup, what hope is there of the TAB's ever making a move away from has served them so well? None, unless of course their bottom line is eroded.


So wouldnt it be a hoot if Betfair not only survived the recent changes but actually prospered? Would have this punter chuckling all the way to the bank;)

[Chrome Prince]

There's no hope if it's a pool or even if it isn't, because the TABs will want in excess of 15% rake from the "pool" making it uncompetitive by comparison to Betfair prices.

P.S. In the good old days, your Holden Special didn't concertina itself around a telephone pole requiring the occupant to be cut out with the jaws of life, or split into two sections. It was also built to last more than five years and had more than triple the layers of paint they scrimp on today.
Sure it can absorb most of the impact, but this is only effective in certain types of accidents. You knew in a rollover for example, the roof wouldn't crush down to seat level.

[AngryPixie]

None, unless of course their bottom line is eroded.


I reckon they'd have done their modelling and realised that at the end of the day your average punter couldn't give a toss and will continue to funnel money into the coffers regardless. You just have to look at poker machines and the lotto to realise that for the masses it isn't really about making money.

Why change when you don't have to? I think they're meeting their "average" customers expectations quite nicely.

[Shaun]

You would have to think with the corps and betfair that the bottom line has shortened a bit, betfair have a good pool size these days.

I guess some of the corps money goes in to the tabs to even out the best tote price.

[Bhagwan]

Well said Angry.

Forget about saving people who may use certain systems found on this site.

If I hear another person with their aggressive hat on, saying how concerned they are about naive punters blindly using certain systems on this forum and therefore such systems should not be printed
I will scream.

If anyone is that concerned for them.

Stand out the front of your local TAB with a placarder , espousing the end is neigh for them, if they continue with their foolish habit of betting where the price drops after your bet goes on.

It makes you wonder how its legal, especially the rounding down to the nearest .10 cent. instead of .05 cents that all other businesses have to adhere to by law.

What would happen if punters bet somewhere else on just the last Sat of each month.
The TAB would soon change a few things , but while mug punters continue to act like mug punters , they deserve everything coming to them.

[TheSchmile]

If anyone is that concerned for them.

Stand out the front of your local TAB with a placarder , espousing the end is neigh for them, if they continue with their foolish habit of betting where the price drops after your bet goes on.


I might do that this arvo just for a laugh Bhagwan!! Great idea :D

The Schmile

[TheSchmile]

I reckon they'd have done their modelling and realised that at the end of the day your average punter couldn't give a toss and will continue to funnel money into the coffers regardless. You just have to look at poker machines and the lotto to realise that for the masses it isn't really about making money.

Why change when you don't have to? I think they're meeting their "average" customers expectations quite nicely.

Agree totally Angry Pixie,

I used the restrooms at a club yesterday and had to walk through the pokie room. It's almost like Sci-Fi, watching all these people vacantly stare at these machines, like they're being brainwashed before being sent off to their ultimate destination......

The Schmile

[norisk]

Yeh agree AngryP, the only issue being that I seriously doubt the next generation of would be punters will put up with what most here did coming up & will be much more likely to shift to 'sexier' technologies, like BF (if it still exists) & any future spinoffs, or do as most seem to be already doing & mostly bet on sports & often with the corps.

Could be though that wont make one iota of difference to the TAB's longterm but I wouldn't be betting my Tabcorp shares on it (if I had any;)).

[Chrome Prince]

I used the restrooms at a club yesterday and had to walk through the pokie room. It's almost like Sci-Fi, watching all these people vacantly stare at these machines, like they're being brainwashed before being sent off to their ultimate destination......

Totally agree, the worst form of gambling are the pokies, and I can't understand how this continues not to be addressed by the concerned parties to the extent of horseracing gambling.
There is zero chance of winning long term on the pokies, yet there is a chance to win playing cards or horseracing if you have the edge.
There is no edge in pokies, only house and government.
Seniors and housewives are getting hit very hard and becoming the predominant problem gamblers according to statistics.

[Bhagwan]

The Govt has the consumer index that shows peoples retail spending, like food & clothing .

But included in that index is gambling.
The retail association has tried for years for the Govt to have gambling removed from that index , because it does not give a true indication as to whats being spent through retail.

Example the association gave was spending may have gone up 12.5%
But 2.5 of that is gambling.
That's a 21% difference
These are the things the reserve bank looks at when doing their figures to see if the economy is hotting up or not.

It appears the Govt are the ones with the gambling problem .
They cant live with out it.
They prefer to hide these figures within general retail spending, so it does not stand out Funny that.

All the gamblers anonymous associations all say Poker machines are the No.1 culprit , which damages numerous families out there & the Govt is reluctant to do anything about it.
The Govt needs a due diligence check put upon them by say the ombudsman.
Knowingly allowing a family damaging activity to operate.

[Mark]

And here's the bad news..................

Many of you will be aware of a recent decision by the High Court of Australia which upheld Racing NSW’s decision to impose a turnover based fee on wagering operators.

Due to the additional cost to Betfair associated with this decision and in order for us to continue to offer an Australian racing product to customers, it is necessary to implement an increase to prices on all Australasian racing markets.

From 1 May 2012, Betfair’s market base rate (‘MBR’) on all thoroughbred, harness and greyhound races in Australia and New Zealand will increase from 5% to 6.5%. Customers will still obtain Betfair Points on these markets in the ordinary manner and will remain eligible to receive a discount on the commission payable in accordance with their discount rate (the maximum discount rate remains 60%).

[mattio]

Yeah just got the email.....going to make things harder for quite a few people I imagine.

[Mark]

And now the API is playing up. Gonna be one of those days.
Lets' start by getting Hallowell Belle beaten.

[Mark]

So it's not all bad, my 2 picks ran 1-2.

[Shaun]

Must be a screw up day, i looked earlier at the race times on Qld site and they said first race was 2pm est time i thought that was late and checked and it was set to WST so i thought it must be right.

come back half hour ago to see i missed the first 2 in Melbourne both winners were my second pick.

Just one ******** up after another last few days.

[moeee]

all these people vacantly stare at these machines, like they're being brainwashed

Sad :(