Possible New Online Punting Tourney

Still very much in its infancy with a lot of tweeking to be done but it looks very much that a Champion Punter online competition is about to be launched, with a 100K guaranteed pool and will take place over 2 meetings (Saturday and Sunday), the talk at the moment is that it will be a 2k buy in with syndicates welcome to partake with a nominee of their choice to represent them, the prize pool will be divided up with the 1st 3 players getting paid on a 50% , 30% , 20% basis, should the pool exceed 250K then a 4th and 5th place payout will come into play...sounds a lot of fun and a great Idea...

Titch sound good and is more affordable than those "Champion Punter" competition and you don't have to be on course.

Please let know when you have more details. (tu)

What percentage does the operator take out??

gregbucks Wrote:

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> What percentage does the operator take out??


Thats the beauty there is a zero takeout as the operator will be an online bookmaker, obviously the 6% tax on fixed odds bet will apply but all tote bets will not be subject to tax...of the 2K that is the buy in R1K will be your starting balance and R1K goes into the pool...there will also be sponsors coming on board with vouchers etc given to all participants that enter regardless of their finishing position...also a possibilty that the first 2 "bubble" finishers (ie 4th and 5th placed if there is only 3 places paid) will recieve a free month subscribtion to the new "Formgrids Pro" site which is opening soon...

If the bookies offered this i would be interested....()

gregbucks Wrote:

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> If the bookies offered this i would be
> interested....()


I knew that was coming ...it is indeed a bookmaker site

This sounds quite hard to get through the gambling boards...

Voltbet offered us R10000 for a epl comp this season but the gambling board knocked it back.. and that was a free entry comp..

Will the bookie thats running it be adding any prizemoney?

hibernia Wrote:

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> This sounds quite hard to get through the gambling
> boards...
>
> Voltbet offered us R10000 for a epl comp this
> season but the gambling board knocked it back..
> and that was a free entry comp..
>
> Will the bookie thats running it be adding any
> prizemoney?


They are looking into the legal side of it now...but have a sponsor that will guarantee the 100K...

Titch Wrote:

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> gregbucks Wrote:
>

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>

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> > If the bookies offered this i would be
> > interested....()
>
>
> I knew that was coming ...it is indeed a
> bookmaker site

Wow... you got me there....::)

Hibs,on what grounds ..........is it because ABC has no gambling licence?.......surely it would be OK if a gambling licence runs a gamble?

If the Bookmaker runs the competition on the same principles as Saftote runs their tournament,they would not have grounds to allow one and not the other,surely.

hibernia Wrote:

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> This sounds quite hard to get through the gambling
> boards...
>
> Voltbet offered us R10000 for a epl comp this
> season but the gambling board knocked it back..
> and that was a free entry comp..
>
> Will the bookie thats running it be adding any
> prizemoney?


Sounds a bit bizarre from a 'gambling' point. It is a 'skill' competition between consenting adults which happens to revolve around horseracing, but could just as well have been darts, triathlon, tennis tournament, music trivia ???? So if we are sitting in the lounge or standing around a braai and each puts R100 in to who gets the closest score in a rugger match... is that illegal ?

It was Voltbet that put it to the gambling board,i would have just let it run...

it was voltbet that was refused the permission,the word free and win were stumbling blocks if i remember correctly