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Old 9th April 2003, 11:30 AM
xanadu xanadu is offline
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Join Date: Nov 1999
Location: Newcastle, NSW
Posts: 1,492
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Becareful,

When I said that I was sceptical that the NSWTAB would ever reduce their take from the betting pools, there is scope for them to show a bit of good faith to the punters. That is the insidious practice of rounding down of divs which is a case of highway robbery. How can they justify the rounding down of calculations to the nearest $0.10 downwards(ie if the calculation of money invested on a runner is divided by the number of successful wagers) comes to 68.9 it is rounded down to $0.60. The money goes into consolidated revenue whereas it should go into a special fund to be used for the betterment of racing. I have heard the Govt's justification for this but it is apretty glib arguement. They contend that most of it is used to return divs of $1.04 when a particular runner has been disproportionately supported in relation to the overall betting poolNSW is the only TAB which returns this div by the way). I have heard them say that they actually lose money in such cases but I am sceptical. That rounding down money is our money and should be returned to we punters by way of larger divs(and divs should be calculated to the nearest 5c not 10c.
We forum contributors should prepare a petition signed by all reg'd contributors and refer it to the Minister for Racing and lobby for reform.

Cheers.
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