TAB
For the 70 years of its’ existence, the Totalisator Agency Board has, at least in the eyes of racing people who allegedly created it (depending on who you talk to), and likely the majority of the Country’s population, been allied to our Industry.
However, presentations given at the recent HRNZ conference paint a slightly different picture. It will probably shock some to find that wagering on the three racing codes makes up around just 20% of TAB turnover. Yes, I did say 20%!
We all have a poke at the TAB for various issues now and then, and often its’ justified, but may I remind you that all the money that HRNZ receives to pay Clubs and stake money comes for that body’s turnover alone. Can you imagine how high stake levels would be if we were relying on race betting alone? You probably don’t want to.
So basically, the TAB is a completely different animal than the one that was born all those years ago. Then it had a monopoly, but these days, thanks to the internet, that is far from being the case. As you many have heard, there are moves afoot to rectify that situation and that should improve the lot of the racing industry, and along with a new forward thinking CEO, things seem to be heading in the right direction.
Just bear in mind that, these days, sadly in some ways, there is a great deal more to the TAB than just racing.
Pete Cook