TAB to monitor oversees bets

TAB MEDIA RELEASE
SUBJECT: TAB monitors overseas punter’s big bets
DATE: Tuesday 18 February 2014
RELEASED BY: Phumelela Gaming and Leisure Limited

An overseas punter has wagered several huge Win and Place bets with TAB in the last few days, resulting in bonanza payouts in several of the races concerned.
While TAB welcomes international participation in its pools, the integrity of the pools is paramount and the punter’s betting activities are being closely monitored to ensure that all bets are in no way an attempt to manipulate dividends. TAB has also instructed the overseas commingling partner concerned that the punter’s bets must be placed at least two minutes before the start of a race in order to give local TAB customers the opportunity to assess their impact on payouts.
The punter bet more than R200,000 on each of three races at Scottsville last Sunday and his wagers resulted in dividends on the winners of the three races being significantly more than many would have expected.
In Race 5 at Scottsville, the punter took a R210,000 Win bet on Ravishing Star and a R26,000 Win bet on Mamzelle. This resulted in a huge Win pool of some R300,000 and a R16 Win payout on Chase The Cherry, who was tipped to win or place by several form experts.
The punter also had massive Win and Place bets on Race 2 at Flamingo Park yesterday, which resulted in well-fancied Gee I Jane paying R7 for a TAB Win and R5.90 for a Place.
“Such bets from international clients are part and parcel of horseracing in this era of globalisation and must be welcomed because generally the bigger the pools the better. And much of the time the average TAB client will benefit from such overseas wagers, although obviously that will not always be the case,” said Phumelela’s Executive Director Sports Betting Vee Moodley.
“But that said we will not allow international participation to compromise the integrity of our pools or to disadvantage local customers. We monitor the betting patterns of such big players to ensure that they are betting to win and not attempting to distort dividends. And because we are well aware that such bets create significant distortions, they must be taken early enough to give local customers a chance to capitalise on any value that may arise with certain runners,” Moodley added.
Some punters who took “open” Win and Place bets on Race 2 at Flamingo Park yesterday with a bookmaking chain have complained that they were not paid the full TAB dividend.
“Open” bets (so called because the odds are not fixed at the time of taking the bet) are tote bets placed with a bookmaker or fixed-odds operator but which the bookmaker does not actually place on the tote. Instead the bookmaker holds the bets and in order to lessen their risk many fixed-odds operators impose payout limits, particularly on high-dividend bets like the Pick 6.
TAB urges punters taking such “open” bets to ascertain beforehand what limits if any the bookmaker in question may apply.

lol @ Moodley....

Reactive versus Proactive.

Waiting for the kettle to boil over before turning the stove off..

Typical spin doctor approach, doing some damage control.

'And because we are well aware that such bets create significant distortions, they must be taken early enough to give local customers a chance to capitalise on any value that may arise with certain runners,” Moodley added.

So are they going to be closing the races earlier ito bets from overseas ? What is 'early enough' - 5 min, 10 min, 2 min ?

The integrity of the tote has already been compromised..lets rather stop that going forward rather than monitoring it.

But on the other hand guys.... this is the third or foutth response to gripes on this forum. Is this not an improvement. If they say nothing there is bitching...if they reply they are spindoctors, reactive... warra warra...eishhhhh.

The question remains.................................what is the motive for these seemingly senseless bets?

If this was happening at Betfair they would have reported "unusual betting patterns" to the regulatory body..............our lot are only interested in playing "cover our arse".................lol
There is more to this than some fool having silly bets....................don't we care!

rob faux Wrote:

---

> The question
> remains.................................what is
> the motive for these seemingly senseless bets
>
they inflate the tote dividend then kill the bookies on the open bet

rob faux Wrote:

---

> The question
> remains.................................what is
> the motive for these seemingly senseless bets?
>
> If this was happening at Betfair they would have
> reported "unusual betting patterns" to the
> regulatory body..............our lot are only
> interested in playing "cover our
> arse".................lol
> There is more to this than some fool having silly
> bets....................don't we care!


I agree and we assume the person is losing every time...

The Madji Wrote:

---

> But on the other hand guys.... this is the third
> or foutth response to gripes on this forum. Is
> this not an improvement. If they say nothing there
> is bitching...if they reply they are spindoctors,
> reactive... warra warra...eishhhhh.

Only logical responses should be valued.......................bullsh!t only works for some!

“Such bets from international clients are part and parcel of horseracing in this era of globalisation and must be welcomed because generally the bigger the pools the better. Better for who, phumlelela? And much of the time the average TAB client will benefit from such overseas wagers, although obviously that will not always be the case,” what a contradicting statement?? said Phumelela’s Executive Director Sports Betting Vee Moodley.

keniza999 Wrote:

---

> rob faux Wrote:
>

---

>

---

> > The question
> > remains.................................what is
> > the motive for these seemingly senseless bets
> >
> they inflate the tote dividend then kill the
> bookies on the open bet

Do you know this as fact or are you guessing....................it would only work if you knew the result at the time of manipulation ie. you have to load on to the wrong horse/s and then back the winners with the bookies.............we are all trying to do the second bit anyway!