Racehorse TALK

Can you explain to me, jfc, how Supertab  punters are being ripped off because Tas Tote punters are winning?

I must be a little bit simple

After glossing over the annual report of the Australian Racing Board I have noted a few pertinent points..

A. National Internet turnover  for the 2010/11 financial year...

NSW..$406 million
ViC..$355 million
Qld..$126 million
SA...$88 million
WA.. $155 million
ACT..$ 36 million
NT..$ 12 million
TAS..$529 million....that's right, NSW with 14 times and Victoria with 11 times the population of Tasmania  both have less internet turnover than Tasmania

Further analysis of that amount is extraordinary. In 2005/06 Tasmania's internet turnover was $7.5 million, in 2006/07 $17 million, in 2007/08 $ 90 million,  in 2008/09 $ 237 million, in 2009/10 $ 366 million & in 2010/11 $ 529 million

As Julius Sumner Miller once said "why is that so" ?

Tote Tasmania since 2007/08 has undertaken a system of giving rebates to premium punters, whereby those punters have been encouraged to bet into Tote Tasmanian pools fully knowing their investments would be merged into the larger Supertab pools. At first glance one might think, what is wrong with that? The punter is better off, and Tote Tasmania receives a commission on those bets, albeit a little less than normal,and everybody in the Apple Isle is happy. However as it has been disclosed in the latest annual report of Tote Tasmania ,that is not the way it has worked out..

In that report Tote Tasmania made a profit of only $ 1.5 million on a total turnover of $ 937 million  because it  must have given virtually all its commission back as kickbacks to its premium punters. You may ask what is wrong with that ?

Firstly, Tasmanian taxpayers were taken to the cleaners by not receiving their legitimate share of the commission on that turnover.

Secondly, those premium punters, with those generous rebates have been given an arm chair ride over other punters to such an extent that Tote Tasmania received a settlement from Supertab of   $69 million in the last financial year. That money is money ripped off other punters in Victoria, ACT & WA betting into Supertab pools, by way of lesser dividends paid out by Supertab due to Tote Tasmania  paying out to "winning punters" in Tasmania. Logically, if Tote Tasmania's investment were excluded from Supertab pools the dividends declared to Victorian, WA & ACT punters would have been higher.


B.Tote Tasmania Telephone Betting Turnover:

In 2005/06 FY = $22 million and in the following 5 financial years only varied by $1 million and bottomed out in the 2010/11 FY at $20 million

C.Tote Tasmania Retail Turnover ( TAB, Pub Outlets)  ....

2005/06 = $192 m
2006/07= $230 m
2007/08 = $ 232 m
2008/09 = $195m
2009/10 =$110 m
2010/11= $ 105 m

From the above, it appears, that not only those betting in Vic, WA & ACT into Supertab pools are been ripped off, but run of the mill punters in Tasmania have also been taken to the cleaners . Surely how else can anyone explain the fall in turnover  from $232 m in 2007/08 to $105 m in 2010/11 . The economy in Tasmania is admittedly the weakest in Australia, but for turnover in retail outlets to drop by 55% in 4 years beggars belief. If run of the mill punters in Tasmania were winning any share of that $69 million Tabcorp settlement last year their turnover, due to the churn effect, would have increased, yet their turnover has gone out the back door.

From all of the above it appears most, if not all, of that $69 million settlement has finished up in the hands of premium punters.

The $69 million settlement proves nothing and you, assuming you are semi intelligent, know that!!

All that proves is that the smartest punters have been betting through TT, as you would expect with the rebates on offer.

If they sell Tote Tasmania can the new owner stop the rebates or are they required to fulfill the deal already in place?