While Phumelela are telling us that the move is a logical one, with all the problems and unresolved challenges facing South African horseracing right now, does it really make sense that our national tote is devoting resources to boxing?
Sports Betting revenue has been something of a lifeline for horseracing, but when does the line become blurred between hosting the betting and actually getting involved in the logistics?
There is no doubt a business strategy behind it …
Tabnews are reporting that the bell has sounded for the start of South Africa’s biggest boxing betting bonanza. TAB and Betting World have teamed up with Sun International and TCB Boxing Promotions to present the inaugural boxing tournament at the new Times Square Casino in Pretoria.
The fight night, on 6 April, will feature two headline fights – one for a world title – on an eight-fight card. For the first time South African fight – and betting – fans will be able to place a series of tote bets on the fights, predicting the outcome of individual bouts (the Fight 1 bet) or on selection of five bouts (the Fight 5 bet).
There will be a R5 minimum bet, or with permutations. Fans will have to select one of five options for each fight: boxer A to win on points; boxer A to win by any other means; a draw; Boxer B to win on points and Boxer B to win by any other means.
The move into offering betting on boxing was a logical one, said Matthew Briton, TAB’s Head of Projects and Innovation at Phumelela. “We have known for a long time that there is an affinity between horse racing and boxing.”
He said boxing was already the second biggest sport in the Eastern Cape and the message must be spread around the rest of the country.
Fight – and betting – fans will be able to watch the fights live on the night and bet at TAB and Betting World outlets or through live screening on tellytrack.com.
Briton said: “On the night we will have a broadcast crew in the Times Square Casino Arena and will send the fights into TAB and Betting World shops so fans will be able to watch the fights live at TAB or Betting World or they could buy a day pass from tellytrack.com and watch the fights sitting at home.”
The fight night will be dovetailed with the horseracing meeting scheduled for the night of 6 April at Greyville.
Dr Chris Nteta, of TLB boxing promoters, said their company was started last year to get boxing back into its position as the number 1 sport in the country and to uplift the youth. For this reason he welcomed the involvement of Phumelela in the project.
