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Flexi betting

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  • #301
    Adrian
    Participant
    • Total Posts 1041

    One of the most interesting speakers at the recent Asian Racing Conference was by the Chief Exec of TabCorp in Australia – who goes by the great name of Elmer Funke Kupper!

    They are an amazingly innovative operation with 2,700 outlets and 1.6 Million customers and A$8 billion turnover (they give A$500 million back to racing).

    They are really promoting their "exotic" bets such as Quinellas, Exactas, Trifectas, Quaddies as they feel this is the way to offer competition to the internet sites, especially the exchanges.

    One thing I’d not heard about before is the idea of Flexi Betting – which now forms 50 per cent of the exotic betting.  

    The idea of Flexi betting is to appeal to the small time or first time punters who maybe have a limited budget.  It revolves around perms on exotics such a combinations or wheels.

    Over here to include lots of horses – even to a low minimum stake – can cost a lot of money, often beyond the ordinary fellow and they become the realm of syndicates.

    With flexi betting you can include as many horses as you want but then you just stake, say, 10 pounds or whatever your budget is (presumably with a minimum total stake allowed).

    If you collect then the computer works out your win based on the percentage of the amount you staked.   It may fall below the minimum allowed over here (perhaps just to a few pence) but if the pool is vast you may not mind.

    It just means that you can have the bet you want for the outlay you want.

    Wonder if it would catch on over here with accumulator bets such as Jackpots, Placepots and Scoop6 ?

    #28691
    davidjohnson
    Member
    • Total Posts 4491

    I think Wit posted a similar thread about the subject. It sounds like a great idea.

    #28692
    wit
    Participant
    • Total Posts 2158

    …yes, the SCMP commended it to the HKJC a couple of weeks ago:

    https://theracingforum.co.uk/cgi-bin … opic=10338

    best regards

    wit

    #28693
    Adrian
    Participant
    • Total Posts 1041

    Thanks Wit and sorry for not spotting the original thread.  Interesting that the SCMP ran the story before the ARC in Dubai.  It must be a big buzz story in HK there were exotics are the most favoured form of gambling.

    Lots of other interesting ideas came up the the people from Tote Ireland – for example – where in attendance.

    #28694
    Monkey
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    • Total Posts 141

    Is there legislation preventing the Tote from offering pool betting on the internet?

    #28695
    wit
    Participant
    • Total Posts 2158

    hi monkey

    as regards English law, the answer is "no":  what the Tote can offer, it can offer through a variety of mediums, including the internet.

    Totalisator betting is only one kind of pool betting of course.

    The Tote has the EXCLUSIVE right to carry on, and to authorise others to carry on, pool betting business in any form on a recognised horse race, and by way of business to receive or negotiate, and authorise others to receive or negotiate, bets on a recognised horse race at totalisator odds.     ("Recognised horse races" basically being those at tracks approved by the Levy Board)

    <br>But the Tote also has power to carry on pool betting business in any form on any horse race and on any other event approved for the purpose by the Secretary of State [in practice at the DCMS] –  and power by way of business to receive or negotiate bets on any event made otherwise than by way of pool betting, except bets on the outcome of any lottery forming part of the National Lottery.

    <br>The Tote accepts internet bets on its regular, exclusive business.

    <br>It accepts internet bets on eg the Ten-To-Follow competition.

    Did you have any other specific pool betting in mind ?

    <br>Of course, as regards HK or Australian or Japanese law, those do impose prohibitions on anyone other than a locally licensed operator taking pool bets – and indeed wagers – from their residents and/or within their jurisdictions.

    best regards

    wit

    (Edited by wit at 6:48 pm on Feb. 8, 2007)

    #28696
    Monkey
    Participant
    • Total Posts 141

    Thanks for taking the trouble to answer a half wit, Wit.

    I’ve just gone and had another look at the Totesport site. I’ve an account with them and as far as I could see they offered the same services as any other bookie. I would go in and click on the Horse Racing button and be introduced to the usual sort of screens.

    Now I see they also have a totepool button as well.

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