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Forum - TAB Payouts

TAB Payouts

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Original Blog Post:

In this day and age, with all the computers and technology we have, is their any valid reason why the TAB do not have dividends rounded to the nearest 5c, not 10c increments?

Supermarkets round to the 5c, Banks, Federal currencies, etc...

Any bill I get from anyone in life rounded to the nearest 5c!

Is their any valid reson the TAB can't pay the dividends to the nearest 5c?

Surely this has to be almost illegal according to how everyone else in life conducts their business?

Am I missing something?

Why does it happen?

 
Author: bluefawn
Subject: TAB Payouts

Time: 25/11/2009 7:27:43 AM
 
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Author: camel56
Subject: Re: TAB Payouts

Time: 25/11/2009 11:15:09 AM

Blog Reply:

I cant see why they cant do it to the nearest 1c. Its all run by computers so it really would be trivial for the computer to round any payouts to the nearest 5c.

 
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Author: MJD
Subject: Re: TAB Payouts

Time: 25/11/2009 2:08:54 PM

Blog Reply:

Because rounding up nets the TAB millions a year, simple as that

MJD

 
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Author: Clackers
Subject: Re: TAB Payouts

Time: 25/11/2009 2:10:48 PM

Blog Reply:

They can't round to the nearest one cent in Tabs because they wouldn't be able to payout over the counter in cash.
Rounding to 5 cents should not be a problem though.

 
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Author: glencoe
Subject: Re: TAB Payouts

Time: 25/11/2009 2:49:47 PM

Blog Reply:


Just dig up the old totalisator laws.

You'll find that since the TAB was privatised such rules have been ignored.
Liquor licensing etc still exerts a lot of force, but gambling just doesn't seem such a moral issue lately.

Also, can anyone find out about a company called TAVALISK Pty Ltd. The name was changed to Luxbet, which became the corporate arm of Tabcorp. Might be interesting.

 
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Author: mrjones
Subject: Re: TAB Payouts

Time: 25/11/2009 3:43:18 PM

Blog Reply:

tavalisk was just a comapny within the Tabcorp group, nothing interesting in that!

 
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Author: bluefawn
Subject: Re: TAB Payouts

Time: 25/11/2009 4:32:07 PM

Blog Reply:

It is interesting. VIC TAB and NSW TAB payout a $1.04 divivend. At least you make a profit on your investment.

UNITAB can pay $1.00 for both WIN and PLACE.

To me, I can't see how this is legal.

If I back Phar Lap at 1/1000 on, I still make $1 profit for my $1000 investment with a bookmaker.

On UNITAB you can place a wager where it is possible for you to LOSE, but you have no possibility of winning, only getting your money back. How is this allowed?

Why isn't the bet refunded before the race as no odds on the outlay are available?

Also in this country a 2c piece is no longer legal tender, yet the TAB's can operate using them.

A 5c piece is legal tender. I can use it anywhere in Austrlia, the supermarket, banks, paying bills, etc... yet the TAB do not recognise a 5c dividend.

The industry recognises the 5c dividend. I see bookmakers now post increments of 5c as odds, $2.15, $2.25, $2.35, so the 5c dividend is a part of the industry, but the TAB don't recognise it.

Is it legal for the TAB to round to the nearest 10c, when the country has a system in place, rounding to the nearest 5c??

It seems strange to me.

 
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Author: camel56
Subject: Re: TAB Payouts

Time: 25/11/2009 4:53:39 PM

Blog Reply:

Of course they can clackers. They just do what every other retail outlet in the country does and round the final payout to the nearest 5c. It's not rocket science.

 
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Author: maccamax
Subject: Re: TAB Payouts

Time: 26/11/2009 6:22:30 AM

Blog Reply:

Camel56 ...It is Rocket Science.
For you at least.
They Round DOWN only = you knit
So a $1.29 divvy becomes $1.20
NOTHING like what other business do.
In the case of the above they have taken thier cut first then screw you for over 30% of your winnings.
Knowing your past form re take outs and high percentage bookmaker takes ...YOU JUST AINT WITH IT >

 
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Author: Clackers
Subject: Re: TAB Payouts

Time: 26/11/2009 8:06:20 AM

Blog Reply:

I stand corrected camel. You are right, it is not rocket science and I have misrepresented myself by being so stupid as to not understand the initial post.

 
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Author: maccamax
Subject: Re: TAB Payouts

Time: 26/11/2009 12:03:50 PM

Blog Reply:

Clackers ..You are correct in that the thieves round down and just think what they burgle the place tote for .
They dont round to 5 cents because thats an extra five they get.
Fools still bet with them, lolol

 
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Author: camel56
Subject: Re: TAB Payouts

Time: 26/11/2009 12:47:08 PM

Blog Reply:

Are you really that stupid maccamx? Read my post properly you complete peanut. We were discussing what the TAB could do not what they actually do. They could quite easily do exactly what I said in my previous post.

I look forward to the apology you will no doubt fail togove me. Bak in your box you bean-bagger.

 
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Author: camel56
Subject: Re: TAB Payouts

Time: 26/11/2009 12:50:07 PM

Blog Reply:

Oh and maccamax, we're still waitin for you to produce these media releases about bookie percentages lol. You haven't left the beanbag in your living room for 30 Yeats so you wouldn't have a clue about what percent they actually field at.

 
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Author: maccamax
Subject: Re: TAB Payouts

Time: 26/11/2009 2:58:24 PM

Blog Reply:

Hey Camel...You expect mind readers ..You clearly state every business rounds to nearest 5c and insinuate the TAB does the same
You still bet with them too , tree dweller.
Your bookmaker percentages don't need verifcation , we with a brain know how bad they are.
I note you didn't go in to defend Bill Waterhouse and his Book of porkies.

 
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Author: camel56
Subject: Re: TAB Payouts

Time: 26/11/2009 5:43:06 PM

Blog Reply:

Wrong again maccamax. Proving what a peanut you are yet again. I said every other business in this country rounds the final total of a transaction to the nearest 5c. Anyone who has a basic understanding of the English language knows that means every business except the one we were talking about - ie the TAB.


They dont require verification because you cant verify it. As I said, you havent removed yourself from the beanbag in your living room for 30 years. If you had you'd know what kind of percentage bookmakers actually field at. rofl at the 160% you claimed. Just deal with the fact that your lies were exposed. You can not provide any proof of media releases because there arent any.


As for betting with the TAB why wouldnt I? There are plenty of examples where the TAB price on an individual runner is better than available elsewhere. Thats why anyone who has any clue about making a profit bets through a variety of channels. Betfair, bookmakers, TAB - whichever has the best price on the horse I want to back is the one that will get my money. Only a complete mug would stick to one avenue of betting. By the sounds of your dribble on the subject that includes you.


Now off you go and start penning that apology beanbag boy rofl.

 
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Author: tigerrish
Subject: Re: TAB Payouts

Time: 26/11/2009 5:55:47 PM

Blog Reply:

Poor old maccamax, still cant manage to understand what anyone else's is saying or show he's capable of reading.

Too busy telling everyone how much he thinks he knows about everything. And still cant produce any proof of media releases he "apparently" read, as per usual.

 
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Author: bluefawn
Subject: Re: TAB Payouts

Time: 26/11/2009 8:00:48 PM

Blog Reply:

What Camel is saying, is there is no reason the TAB couldn't pay out to the exact cent, ie. 3 units @ $1.97 = $5.91

Rounded like every other business in the country to $5.90, when it is totalled.

Instead the TAB.... 3 units @ $1.97
Rounded down to $1.90 = $5.70

Considering your initial outlay is the $1, this equates to an extra 7% reduction in your payout.

They also take 15% of the total pool, before paying out, so effectively their take is far greater than the 15% they spruik.

Combine that with the fact that nowadays bookies set their odds off of tote boards, is it any wonder it is getting harder and harder to win.

The gambling industry is all about taking your money these days.

That is why they are so strong on promoting Big 6, Quadrellas etc....

It mulitplies the chances of you losing and the bookies taking your money.

 
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Author: nigeltufnel
Subject: Re: TAB Payouts

Time: 26/11/2009 10:09:33 PM

Blog Reply:

Lol - Oops. I'm just letting it be known I'm highly amused by tiger & camel's appraisal of maccamax's acumen here.........but I better not pass comment myself as this will somehow automatically metamorphose into concrete evidence that I'm a disgrace to my chosen profession.


Nige ;-)

 
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Author: Weight Special
Subject: Re: TAB Payouts

Time: 27/11/2009 2:38:58 AM

Blog Reply:

tab arent in business to help u. they want to screw punters to help mgmt and shareholders. why would they round to nearest 1c?

banks screw u with fees, tab with rounding.

customer is last in line with these guys.

 
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Author: maccamax
Subject: Re: TAB Payouts

Time: 27/11/2009 8:39:42 AM

Blog Reply:

Tiggles is here.
Someone must have pressed the button or pulled the chain.
You clowns should be aware every day some announcer speaks of the absurd percentages bookmakers are betting to...How backward is your brain to make statements like TAB bet over the other outlets at times ..Your a joke.
With rounding down and average overall take it is accepted the TAB take equates to over 20 %....How do you argue with the average Betfair take of 4% and Betdaq 2%...
Back into your burrow Camel56.. take that brown nosed tigerrish with you.

 
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