how destructive are bookies and the open bet

BLOODSHOT i think you are referring to Lm bookmakers right . They also have Players Lounge right .

These establishments from what i hear did millions of rands of turnover for the tote, earning in the region of 3to 4% profit for themselves .
These guys now take the risk of playing the punter head on with the open bet . They will pay full tote payouts but not exceding the tote pool . So if you catch 5 qtets and it pays R30k and the pool is R100k the max payout is R100k and not R150k .

I had a discussion with Rob Faux a while back , he said he suggested to some big shot at phumelela that they, the tote should jump at the opportunity and start exchange betting ( Betfair style ) . All the tote has to do is become the administrator /fascilitator (ie create the platform) . take commisions at no risk of money loss . Those of us that tasted betfair crave it . Betfair gave us the option of trading out when possible and minimising our risk .

I asked Rob what the added advantages would be for Phumelela . He said by phum being the soul exchange in the country surely the bookmakers would wish to trade on the Phumelela exchange . Phumelela would allow the bookies to trade on condition they stopped laying the open bet .

If this took place imagine the commisions Phumelea would be making from the exchange without risking a cent . They could perhaps offer the bookies say 6% or 7% in tote bet commision when joining the Phumela exchange .

Needless to say the Phum big shot could not see logic in Robs suggestion .

The tote is blind and shortsighted not to take an opportunity like this . .

Tipster I agree with you 100000000% matey on all counts...the open bet is biting the hand that feeds them and although it may not be the sole reason for racing's current position it is without a doubt a contributing factor...

Solotrama you are correct regarding LM and I have to agree with you regarding bet exchange. Rob Faux knows this game better than most and that includes some of the so called big wigs that run P . Sadly for them and the vast majority of punters and owners they are locked in the past with very little scope or initiative to determine that you need to look after your core customer - and that is the punter be it a R6 punter or a R60 k punter. Yes the owners pour money into the game and nobody disputes that and they deserve the rewards - but so do the big and small punters who spend their income on a game they love.. When you go to a restaurant and have a bad meal you might go back again just to make sure it wasn't a bad night but when it happens again and again I bet you will never go back. The old saying that the customer is always right is Bullshit. The customer can very often be wrong but The customer will and should always be King and untill they learn to provide a decent professional service to the very people that make this industry survive they and all concerned will be losers. Sorry to those who knock the open bet - no disrespect to you we all know why - but I know where I'll be punting tmrw

Titch Wrote:

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> Tipster I agree with you 100000000% matey on all
> counts...the open bet is biting the hand that
> feeds them and although it may not be the sole
> reason for racing's current position it is without
> a doubt a contributing factor...

Hibs please check Titch out, i THINK he is posting as Tipster...<

Titch Wrote:

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> Tipster I agree with you 100000000% matey on all
> counts...the open bet is biting the hand that
> feeds them and although it may not be the sole
> reason for racing's current position it is without
> a doubt a contributing factor...


yes and tipster would not bite the hand that feeds him ...mediocrity continues

Bloodshot,as you say,we both know (and so does anybody else with half a brain) that the open bet is detrimental to the stakes,so for posters to keep applauding each other for noticing is amusing.....................you would think they had discovered the atom.
What does confuse me is the owners,who are most affected,are mainly successful business people,but do not seem to be leaning on the operators to up their game and win back the custom or create a compromise with the bookmakers.
Interesting that Gold Circle were prepared to offer an increased commission to incentivise channeling that income through the tote,as agents.........but the arrogance of "P" said "F@%& Them".................brilliant!


So ,like all frequent punters ,you and I can only survive if we take advantage of the best value available when we bet,so, like you............I know where I'll be punting t'morrow.
We wouldn't eat at the crappiest restuarant in town just cos the owner has the most kids to feed.

pirates Wrote:

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> Titch Wrote:
>

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>

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> > Tipster I agree with you 100000000% matey on
> all
> > counts...the open bet is biting the hand that
> > feeds them and although it may not be the sole
> > reason for racing's current position it is
> without
> > a doubt a contributing factor...
>
>
> yes and tipster would not bite the hand that feeds
> him ...mediocrity continues

Pirates, I wrote the attached letter to the Racing Post when living in the UK about 10 years before I was employed in the racing industry. It adequately proves that I had formed my opinions without the help of Gold Circle a long time ago despite some obvious naievities that reflect my relative lack of knowledge at the time.

Attached files

Tipster Wrote:

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> pirates Wrote:
>

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>

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> > Titch Wrote:
> >
>

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>
> >

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> > > Tipster I agree with you 100000000% matey on
> > all
> > > counts...the open bet is biting the hand that
> > > feeds them and although it may not be the
> sole
> > > reason for racing's current position it is
> > without
> > > a doubt a contributing factor...
> >
> >
> > yes and tipster would not bite the hand that
> feeds
> > him ...mediocrity continues
>
> Pirates, I wrote the attached letter to the Racing
> Post when living in the UK about 10 years before I
> was employed in the racing industry. It adequately
> proves that I had formed my opinions without the.
> help of Gold Circle a long time ago despite some
> obvious naievities that reflect my relative lack
> of knowledge at the time.


its very clear that the low levels of service and customer care that phumgold provide for its fans as the japanese say is good enough for you which shows how your mind has been warped since working for them..im an owner punter and racegoer and my profession has been in retail where THE CUSTOMER IS KING AND THEY PAY YOUR SALARY....because of my sickness for racing i have visited totes and bookmakers in almost every village town city in south africa and have experienced racing in australia as well and facilities service attitude and general filth of many tote outlets is an absolute disgrace in this country...the worst part is the people in charge are not prepared to meet with racegoers to try improve the lot of the punter and prefer to ignore them thinking it will go away..when you dont listen to your customer the shit that racing finds itself today is what happens...unfortunately the industry is riddled with nepotism, jobs for mates and people in positions who havent a clue for example your fellow press mates who contribute zero to the industry...LET ME GIVE YOU AN EXAMPLE OF GOLD CIRCLE NOT CARING ABOUT ITS CUSTOMERS FOR MANY YEARS I BET ON TELEBET AND STOPPED ABOUT 3 YEARS AGO BUT NOBODY FROM TELEBET EVER BOTHERED TO PHONE ME TO FIND OUT WHY????????..if you are so passionate about this open bet story get your bosses to come and talk to us punters about how to fight it because the law as it stands will not be altered...

To show how much they valued our patronage, why did Phum do away with the TAB NORTH WEST Toll free tele-betting ?
I can still remember the 0800125521 no from 12 yrs ago and the transfers of winnings etc. were very good.
So why moan about the open bet when the operator shoots itself in the foot by closing a facility which worked very well in my experiences?

tipster you and the rest of the forum are well aware of how i think and know how turnover can be increased in south africa but all i ever hear from you and your fellow cronies is why it cant work blah blah blah and i get accused of being negative meanwhile its the people who block it have hidden agendas and ulterior motives...the answer to the majority of the PROBLEMS WE FACE IN THE INDUSTRY LIE WITH THE FANS AND NOT THE CLOWNS WHO RUN THE INDUSTRY