Feedback from Phumelela CEO re: Tommy's post

Yup Mr H, If we don't know exactly what we want to see and why,we will be shown what they want us to see!
Ironical that a section of a racing programme is set aside to explain the anomolies,on comes two reps who do not have one single answer(just a whole lot of self serving guesses)and that has created more questions than ever!

Do you think it would be a plausible idea to try and organise an "indaba" style meeting somwhere in Johannesburg where we put an ad in the newspaper and on the forum websites and then send an invitation to Phumelela to attend??

Hopefully we would get some punters on the ground as well as a lot of clan/racingwebbers to show up and ask the questions???

I'm just hoping we can show Phumelela how unhappy we are with whats happening.

Perhaps someone can contact Glenn Sepel and ask him if you can use The old Bruma Lake Sporting club as this is a relatively big space and if some guys stay and punt on a racemeeting afterwards then maybe he will let you use the space for free?
Also the tote at Bruma used to be Phumelelas BIGGEST tote in the country. Hopefully the Phumelela bigwigs still know where it is???

Just an idea.

Good idea Tommy,

Will however need to be prepared with some facts that "P" can either agree with or dispute.

The facts in this case would be need to be hard copy printouts of tote payouts for wins and places....available from Tab Online.

What is required are screen dumps , starting 5 minutes before the race is off, and then every 30 seconds (or sooner), thereafter + the payouts at race end (horses crossing the line) + screen dump 5 secs after, then continuos dumps, until final payouts.

The key thing would then be to print out(hard copy), as soon as you do a screen dump.

After this follows the come the data analysis...

If the first printout shows a horse paying R5.50 for a place, and the second printout shows the same horse paying R4.20 for a place, and the third shows "x" amount.

Same analysis with printouts at race close versus final payouts.

This analysis would show how the betting changes....what "P" would need to show us is the number of bets that have been "recorded" and the amount of each bet.

This is where "P", needs to come to the party, and can come clean, by producing their printouts(time and date recorded....computers can do these things)to "prove that all is above board" OR, continue to try and brainwash punters....

"P" my gutfeel tells me, you are stealing my money to enrich yourself.

As Andrewest has "SCREAMED OUT LOUD ENOUGH FOR ALL TO HEAR", this will clarify any "misconceptions" that have been expressed on this, and other threads, related to the same topic.

Are auditors focussing on the wrong transactions....

I wonder still Observer,

I'm not sure Phumelela is purposefully stealing our money. (This is also just a gut feel)

I think more along the lines of Phumelela have this "new opportunity", lets just call it "co-mingling" for the purpose of the excersize.....

This opportunity could be really lucrative for them, but there are some gremlins in the system. There are just too many unanswered questions, there are too many anomalies to ignore......

For me they have two choices......and ONLY two choices.

1) Stop comingling for a while and run more tests and set up all the necessary protocols to make sure that "funny" payouts don't happen anymore. After all this is certainly in their best interests right?
It shouldn't matter how much money comes in from the international market as the pools get chopped up and divided anyway, but it is concerning when large amounts are wagered on the winner/placed horses almost EVERY day.

2) Continue the way they are, with gay abandon, and risk losing local punters and alienating new ones................We are still your lifeblood Phumelela, and we should be looked after. Otherwise close up local racing and concentrate on being part of the international racing scene only!!!!!!!!!

KING III report.
The auditors must request the print of the database log for a spesific race..
The auditors must audit the log and publish the findings.
The database does have a utility to print the log in a readable format.
ie.
Date, Time, Ip Address, User Id, password, Transaction type (insert, update, Select or delete), and then all user defined fields (ie. amount,horse no, race number etc).

my guess is..
they have done it.
seen the hacking going on..
covering it up by operating as a punter..
or betting world taking back fix bets..

if they admit that they are being hacked..
shareprice will fall..
trading of Phumelela shares will be suspended on the JSE..
Auditor chief will commit suicide like Arthur Anderson..
all the BEE guys will loose millions as their shareoptions will be worth less than what they owe for the shares..

Greg Blank will be proved correct..not a sustainable share and over priced..

Send article to the STAR and CITIZEN implicating the auditors for not blowing the whistle on the irregularities as Phumelela.

Must put pressure on the auditors..
go short on Phumelela shares..
CEO and team must start looking on www.PNET.co.za for new jobs..

the share price will fall drastic in the next 2 months..
where there is smoke there is a fire..????

Hi all,

Just to clarify something, there is NO SUGGESTION that bets are being
placed after the result is known. I watch the Teledata TAB dividends
avery day, and the wild swings come about as the horses are loading,
and as the field jumps. I have never seen a dividend reduce after the
winner passes the post, so the RACE CLOSED is definitely working and
nobody is getting big bets on after the result.

Also to clarify another point, the tote take 25% off the win pool, but
as dividends are rounded down (R1.46 becomes R1.40 etc), the win pool
invariably bets to slightly higher than 125%. Bookmakers SP prices are
usually around 122% on average.

well if thats the case then P wont hesitate to give us a meeting and to show us how things are done

I think, this guy, who bets a lot of money in the last minute, is winning half the money with win-bets via the tote. at the tote he just looses his place-bets not to be under suspicion.
he wins with placebets via bookmakers. because the problem is, that you can't get a lot of money via bookmakers with win-bets cause of the limits.
but if you play place-bets f.e. 5000 at each bookmaker, no limit will act.
and it is quite more sure. that is also the reason, why he puts the money so late. it is true, that he is destroying his win-money, but if he puts earlier, he would destroy the place-money which influences the bookmakers place-dividend.
because a lot of punters would jump on the train...

the only question: where did he get his informations?

interesting theory saldiani.