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Racehorse TALK » Racing Talk » Vic Gallops » Topic: Tabcorp Plans Fixed Odds On Every Race
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Author Topic: Tabcorp Plans Fixed Odds On Every Race  (Read 1074 times)
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InTheKnow
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Original Post 2009-May-29, 02:55 PM

Tabcorp "plans to offer fixed odds on every race in all 3 codes by the end of the year," reported The Herald-Sun. Tabcorp chief executive Robert Nason said yesterday "the best way to fight the rise of corporate bookmakers was to continue to encroach on their territory by providing a greater fixed-odds service". Nason declared: "We need to fight fire with fire & by providing this service, along with having our own corporate bookmaker in Luxbet, is our way of taking the fight up to them." Tabcorp "recently added 8 price assessors to its ranks to bring its total to 30" & Nason noted: "By the end of the year, when a punter enters a TAB the fixed odds will be displayed prominently, giving punters a clear choice between betting on the tote or taking a fixed price." (May 29)
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2009-May-29, 03:05 PM

How exciting.Really looking forward to putting all my bets on half an hour before the first race.
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mugwump
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2009-May-29, 03:24 PM

Tabcorp "plans to offer fixed odds on every race in all 3 codes by the end of the year," reported The Herald-Sun. Tabcorp chief executive Robert Nason said yesterday "the best way to fight the rise of corporate bookmakers was to continue to encroach on their territory by providing a greater fixed-odds service". Nason declared: "We need to fight fire with fire & by providing this service, along with having our own corporate bookmaker in Luxbet, is our way of taking the fight up to them." Tabcorp "recently added 8 price assessors to its ranks to bring its total to 30" & Nason noted: "By the end of the year, when a punter enters a TAB the fixed odds will be displayed prominently, giving punters a clear choice between betting on the tote or taking a fixed price." (May 29)


                                                                       

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Grega9430
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2009-May-29, 04:36 PM

Mugwump, not sure that it is a laughing matter especially for the Racing Industry.

The facts are that Tabcorp are the biggest wagering operator in Australia and have the biggest retailer network and they pay significantly less Product Fee and Tax on Fixed Odds versus Tote.

For every dollar their Fixed Odds take away from their Totes it will mean less for the Racing Industry and should mean more for them. I think that they might be being deceitful purporting to be fighting the Corporates with this. I can envisage some high percentage markets.
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Da Judge
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2009-May-29, 05:05 PM

Mugwump, not sure that it is a laughing matter especially for the Racing Industry.

The facts are that Tabcorp are the biggest wagering operator in Australia and have the biggest retailer network and they pay significantly less Product Fee and Tax on Fixed Odds versus Tote.

For every dollar their Fixed Odds take away from their Totes it will mean less for the Racing Industry and should mean more for them. I think that they might be being deceitful purporting to be fighting the Corporates with this. I can envisage some high percentage markets.



grega,their fixed odds won't take a lot away from their normal operations,it will have more of an impact on the other fixed odds providers,and yes the return is less to racing from fixed odds,as they can lose on it
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manikato1
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2009-May-29, 06:12 PM

Mugwump, not sure that it is a laughing matter especially for the Racing Industry.

The facts are that Tabcorp are the biggest wagering operator in Australia and have the biggest retailer network and they pay significantly less Product Fee and Tax on Fixed Odds versus Tote.

For every dollar their Fixed Odds take away from their Totes it will mean less for the Racing Industry and should mean more for them. I think that they might be being deceitful purporting to be fighting the Corporates with this. I can envisage some high percentage markets.



And, how much will they let you on for?  Not that much I would reckon.
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Grega9430
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2009-May-29, 07:10 PM

grega,their fixed odds won't take a lot away from their normal operations,it will have more of an impact on the other fixed odds providers,and yes the return is less to racing from fixed odds,as they can lose on it


Judgey, I don't think a Fixed Odds service from Tabcorp will have any effect on the others, the only way I could see them have any impact would be if it was Best Tote or Best Fluc.

Where I see the impact is the bloke in the betting shop having a fixed odds bet instead of a tote bet.

I think that there numbers indicate that they can make more from Fixed Odds than the Tote and that is why they are going down this path. Whilst they may make more Racing will get less. They might even turn the totes off!!!
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Da Judge
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2009-May-29, 09:40 PM

Judgey, I don't think a Fixed Odds service from Tabcorp will have any effect on the others, the only way I could see them have any impact would be if it was Best Tote or Best Fluc.

Where I see the impact is the bloke in the betting shop having a fixed odds bet instead of a tote bet.

I think that there numbers indicate that they can make more from Fixed Odds than the Tote and that is why they are going down this path. Whilst they may make more Racing will get less. They might even turn the totes off!!!


never,you know how many bookies would like to make a perfect book at 118%?everyone one of them,and thats exactly what the tab does,makes a perfect book at 118%,on every single race they bet on,risk free and guaranteed
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2009-May-29, 10:33 PM

I think you are missing the point Da Judge, If the average joe invest his hard earned on the fixed odds option at the local TAB instead of on the tote as they usually would, the TAB will be paying far less to the racing industry than they do now.
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Grega9430
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2009-May-29, 10:35 PM

Judge, 60% of their 16% tote commission goes to others, with their fixed odds it is something like 25% so it depends what they can make on their book.
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Da Judge
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2009-May-29, 10:37 PM

Judge, 60% of their 16% tote commission goes to others, with their fixed odds it is something like 25% so it depends what they can make on their book.


so me a bookie that makes 25% per race,each and every race,and i will show you a liar of the highest order
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Grega9430
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2009-May-29, 10:46 PM

Judgey, with their fixed odds betting only 25% of their net win will go to others in the form of taxes, duties, product fee etc, with their tote betting 60% goes to others. So for fixed odds they get to keep 75% of what they make versus 40% of what they make on the totes.
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Da Judge
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2009-May-29, 10:48 PM

Judgey, with their fixed odds betting only 25% of their net win will go to others in the form of taxes, duties, product fee etc, with their tote betting 60% goes to others. So for fixed odds they get to keep 75% of what they make versus 40% of what they make on the totes.


that may be the case grega,but their win is not guaranteed,even with 60% going elsewhere,it still leaves them with around 7% on turnover guaranteed net profit,again,not a bookie around wouldn't be happy with 7% net profit on turnover
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Grega9430
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2009-May-29, 10:52 PM

Yep agreed Judgey but when you have 50 punters in the one room and only one bookie and 99% of those punters would not know the difference between someone betting 120% versus 140% then things are different.
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Da Judge
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2009-May-29, 10:57 PM

Yep agreed Judgey but when you have 50 punters in the one room and only one bookie and 99% of those punters would not know the difference between someone betting 120% versus 140% then things are different.



again,most bookies would kill for that scenario now,i think the tabs just see the landscape is changing,and are after a slice of the pie.
call me crazy,but i reckon the tab will venture into the exchange arena in the not to distant future as well
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