thats not exactly the case, it has the ability to boost the number of punters
pools in aussie are still quite small on betfair after a few years and it doesnt look likely to get to the domination it has in the uk
thats not exactly the case, it has the ability to boost the number of punters
pools in aussie are still quite small on betfair after a few years and it doesnt look likely to get to the domination it has in the uk
Buster - Answer this
Why is it ok for Betfair to cover NZ Harness Racing and for them not to pay any product fees back to the NZ Racing Industry?
If you were in charge of the NZ TAB, wouldn't you be insisting that you should receive the same treatment as Betfair and not have to pay anything back into the Racing Industry. You could then offer better odds, put more money into customer service, have a better website, build better quality agencies.
But where would that leave the Racing Industry? The Racing Industry would die.
The rules need to be the same for all players in the betting market. Consistent fees need to be paid by all betting outlets/exchanges in order to have real competition. By all means open the market up but make sure that all betting providers are paying a fair fee back to the Industry.
just like the ceo of betfair would want to pay a similar level of gross revenue as the tab does in aussie, which the legislation does not allow for...so who are the rules made to be fair for - the tab? or betfair?Originally Posted by Shakamaker
You didn't answer the question.
I repeat - Why is it fair for Betfair to operate on NZ Harness Racing and not to pay any fees back to the NZ Harness Racing Industry?
You need to check your facts. If you knew them you would know that the TAB pays a much higher percentage of gross revenue back to the Racing Industry in Australia than what Betfair has ever offered to pay.
On course bookmakers in Australia pay 1% of their turnover back to the Racing Industry and have gladly done so for years and years. Why then should Betfair and Corporate Bookmakers be excused from paying a similar fee - which happens to be much less than what the TAB pays? And yet Betfair and Corporate Bookmakers refuse to pay this fee and have embarked on a long and bloody legal campaign (which they lost in the NSW Supreme Court last year) to avoid paying a similar fee.
You cant argue with logic. Betfair and anyone else that wants to bet on NZ Harness Racing should be required to pay the same level of fees back to the Harness Racing Industry as what the NZ TAB does. To do otherwise is to provide Betfair and others with a major advantage in the Marketplace to the detriment of owners, trainers, drivers and breeders.
this just plain wrong, the turnover model means betfair pay a higher percentage of revenue then the tab
read any article about this, no one on either side disputes this
Rubbish. Betfair are refusing to pay under both a turnover model and they won't even pay anything under a Gross Profit Model.
If I am a punter and I want to have $100 to win on a particular horse, I have options where I place that bet.
Most TAB's in Australia and NZ are paying product fees back to the Racing Industry at around 30% of Gross Profit. So if I place $100 on a horse with the TAB, $84 on average is returned back to players and $16 is retained. Of this $16, on average around 30% of it ie $4.80 is paid to the Racing Industry in the form of a product fee. The TAB's also provide the Racing Industry with other sources of funding including Programming Fees or profits from Gaming operations etc that on average takes the return to the Racing Industry somewhere up to around 6% of turnover.
Betfair are refusing to pay 1% of turnover in NSW. So if I placed my $100 on Betfair, they are refusing to pay $1 of that back to the Industry.
The most that Betfair have offered to pay the Racing Industry in Australia, (outside of Tasmania) is 10% of gross profits. This is considerably less than what the TAB's are paying.
how can we have a discussion if you are making up facts
betfair currently pay 1.5% of turnover to aussie racing, this money is held in trust until the court decisions are ended -FACT
the tab pay around 6% of turnover to aussie racing, this is then reduced by the kickbacks to large punters and coporate bookmakers betting through the tab and then further reduced by a return of around 20 million a year to the tab by the racing industry -FACT this is all evidence in court cases
1.5% of turnover for betfair is 60% of gross revenue -FACT
justice perram in the federal court judgement
I think it is likely – much more likely in fact – that the TAB and RNSW have an in principle understanding or arrangement that the TAB will have the race fields fee refunded to it.
the 1.5% fee on turnover equates to 60% of Betfair’s gross revenue but only 10% of the TAB’s revenue.
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