Essentially, they cannot withstand knowledgeable punters who win on a consistent basis. The model will fail, it has to.
They will chase the mugs at reduced odds and that will be their market along with tiny bonuses.

There has always been successful punters, and wagering, so racing should go on, and if the corps fail because they really are just accountants, then its not our loss. I know that people rant on about choice and variety and options, BUT we all seen where that ends up. It will end up being the true bookies vs punters and the accountants will eventually fizle ????

I don't know the answer, and Im not disagreeing with what you are saying, but at the same time Im also not worried about them not surviving the new model.

Not sure if this has been mentioned already.

Interesting some of the opinions given from "JOE PUBLIC",
Down underneath.

http://www.racenet.com.au/news/1015...o-be-frozen.asp


Cheers.

are these clowns serious??

The AWC, which represents Paddy Power Group (Sportsbet and IAS), William Hill Group (Centrebet, Sportingbet and Tom Waterhouse), Ladbrokes, Unibet, Bet365 and Betfair, says more consultation is required with wagering operators before any new conditions regarding bet amounts on fixed price products are implemented.

"Any new policy affecting wagering must be developed in a way that properly assesses its impact on the long term viability of the racing industry; protects the integrity of racing and stems the leakage of customers to illegal and unregulated offshore providers."

The simple fact is that minimum bet restrictions will only apply to a very small proportion of customers but Racing NSW's decision may force online operators to change pricing for all customers," Downy said.

The AWC says as online wagering operators service their own clients they are "entitled to manage risk as they see fit".


Do everyone a favour & ******** off back to where you came from.

Exactly as predicted unfortunately.

Surely betfair must be licking their lips at this? It provides a huge marketing opportunity for them if corps start offering 130% markets on NSW races and betfair stomp their prices all day long.

Same goes for pinnacle if they get their racing division off the ground and offer a decent market.

"Any new policy affecting wagering must be developed in a way that properly assesses its impact on the long term viability of the racing industry; protects the integrity of racing and stems the leakage of customers to bookmakers that have a pair & who realise & accept that in the bookmaking industry, risk is a 2 way street."

edit for accuracy

It may mean a couple of things, people will go to the track for a decent plonk, or Pinnacle will replace betfair as the backers preference.
Originally the overseas lads bought whizz bang software which to an extent was supposed to manage the book. It did so, so inefficiently that winners were beating the odds put up for large sums.
The book was not managed, instead they just dropped or severely limited the winners via accounting software which ran independently of the "book".

What they simply need to do is make money like they did before the internet.
Manage the book like Pinnacle do.
Offer odds up to a certain exposure and then drop those odds whilst winding out the odds on those horses at the other end of the market that are nearly 50% below true odds in most cases.

That's not going to happen anytime soon, because they have spent so much money on getting established here, inefficient bookmaking software, but efficient accounting software, so the door is wide open for Pinnacle and Betfair. In fact after commission and Premium Charges, Pinnacle are the best odds you can get. And if you get on at the right time in sports, you regularly get much less than 100% market as a backer ;)

You can't come to our country and implement your unethical business practises and expect to get away with it. Will be interested to see what happens from here. Hope the greedy cants don't win.

Pinnacle have been around for ages and make a profit. Time these corps re-think their business models and give everyone a fair go.

So are these so called "bookmakers" trying to dictate terms to the racing industry? Don't put the cart (or sulky) before the horse because you could get trampled by those bookies offering better odds. That would be a real pity for them.