4 April 2008

Nick Eaves Whines: How Dare Gamblers Look For The Best Offers

I just finished reading Jen's Blog post for today. She has a blurb up with Nick Eaves Chief Operating Officer at Woodbine Entertainment) discussing internet gambling. I'll copy Mr. Eaves quotes and then follow them with facts.

"The bottom line is, that it is illegal for residents of Canada to bet over the internet in unlicensed jurisdictions..." We have a government that is not enforcing those laws but at least now have come out and said that they sense the issue is larger then they thought. Perhaps they will do something about it."
No Mr. Eaves it is evident you don't know the law or you are lying. It is illegal for an unlicensed company to accept bets from Canadians, ONLY IF that company accepts the bets on a server located in Canada. For more, read this post.

What bothers me is that WEG thinks they are a monopoly and deserve to be one. They have one of the highest track takeout structures in North America, so they aren't doing anyone any favors when it comes to keeping Canadians action in Canada. It is called audacity coupled with an unreal arrogance to think WEG has any business telling me or any Canadian where to bet.

I hope the government does come in and allow companies like Betfair to become licensed in Canada and open the door to other competition so that the BETTOR, the CUSTOMER, finally can be treated like we live in a democratic, capitalistic society.

"These off-shore sites try to know who the big players are because that is the easy business for them to go after," said Eaves. "They have no cost structure. And when you can pirate a product and sell it for a price which is so much lower than a racetrack - no purse account, no 600 plus acre facility to pay for - the economics are totally different."
Woodbine sells their signal to other tracks for 4-5% (I'm guessing). That is really all their product is worth. What I find amazing is the betting model. They can sell to tracks for a 16% reduction in takeout that they are willing to give THEIR OWN CUSTOMERS.
Overhead is also includes the money WEG pays their execs for following a failed business model, that is outdated by at least 30 years. They don't bring in new customers because there is no BUZZ from winners because they have the out and out nerve to rip customers off with unbelievably high track takeouts.

They also "think" that if offshore betting housed were deemed illegal tomorrow, big bettors who they "think" they lost, will do business with them. NO CHANCE. Big bettors bet big because they have a good chance of winning. And they get enough in rebates to churn enough to be BIG BETTORS. It is a myth to think they lost something they could never have.

"When we work as closely as we do with big players, we have to do everything we can to support these customers," said Eaves. "Every day somebody else out there in a jurisdiction that is not taxed and regulated is coming after that level of business."
Are you saying that you give big players unadvertised rebates? Is that legal? And why not support ALL CUSTOMERS in the same way you "support" big players?

Again, as far as what is legal and what is illegal. I'm pretty sure that it is illegal to have collusive agreements, which Woodbine has with Youbet and Xpressbet to name a few.

Maybe the Canadian Competition Bureau will finally do something about it and help Canadians. It would be nice if Woodbine actually decided to COMPETE for our business instead of expect it.

Making Canadians bet through Woodbine is like forcing them to shop at Beckers for all their groceries and while not allowing No Frills to open up in Canada.

I can say more, but I'll end off this mini rant with the fact that Woodbine has its thoroughbred season opener tomorrow. I still haven't decided if I will put in a couple of hundred just to play Supers and Win 4's.
I know Woodbine horses very well, and it pains me not to be able to bet full throttle with them. But I'm not out to make sure that Woodbine execs are well dressed either. They don't care what I'm wearing.

The first exactor looks very good. Sarcasm boxed with Haveubeentoldtoday.

1 comment:

Anonymous said...

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