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I usually write about exchanges, and I think Smarkets is still good for horseracing, but Black Type is an intriguing new UK-based online fixed odds sportsbook, apparently willing to lay any horse racing bet for at least £500. The business model sounds a bit like Pinnacle’s – ie if you get the odds right then you don’t need to worry about arbs. But they then go on to say they won’t be nice to people using computer-based arbs so we shall see. My guess is that each way thieves won’t be tolerated but genuine punters like Gingertipster might find the site useful.
Very good news on the face of it. Greg Wood has more here…
https://www.theguardian.com/sport/2016/aug/25/betting-black-type-bet-
Simon Rowlands and his team at HBF deserve great credit for shining such a high profile light on the issue.
Some fascinating Ts & Cs:
1.18 The maximum winning to any Customer on any single bet, multiple bet or on any single day for bets placed on this website is €/£50,000.00 or equivalent.
5.4 Black Type, in its sole discretion, reserves the right to refuse payment of any withdrawal following a Withdrawal Request.
6.0 Withdrawal Management Fees
Free bets or promotional awards of any kind cannot be withdrawn.In the event you choose to withdraw funds from your account and have not carried out any financial activity, or if the financial activity on your account equates to a sum of less than 50% of the amount deposited by you, then Black Type reserves the right to charge a processing fee of 5% of the requested withdrawal amount with a minimum charge of £3.00
“Financial activity” is defined by the placing of bets anywhere on this website (voided/cancelled bets to not count).
Mike
I give them 6 months, max, and they’ll be dead in the water.
To attract in sufficient numbers the casual punter they claim they’re targeting, they’ll need a marketing budget into the tens of millions, especially with an unknown brand. All they’ll get from this free publicity are the wise guys who are probably already heading their way having seen the promising smoke signals.
To paraphrase no less a luminary than Cher, Black Type will find specialising in horse racing as tough as Chinese algebra.
I would not deposit a fiver with them.
On the surface of it, they would appear to be exactly what many on here and elsewhere have been crying out for. No gimmicks, no casino and lay a half decent bet. We shall see I guess.
I’ve spoken to a few industry judges and the general feeling is one of intrigue, but most suspect BlackType are going to struggle to get the word out beyond bad customers.
Pinnacle are a huge force in Europe, but their lack of prominent advertising and affiliates means their UK customer base is relatively small. Pinnacle also don’t trade horse racing due to the amount of nogoodniks who try to get dirty bets laid. If you’re trading with smaller margins you need to manage bad customers with an iron fist and minimise advertising spend.
But if you can’t market your brand through affies/press/sponsorships/TV, how are you going to get a strong customer base? Social media is a wall of white noise after all.
Very good news on the face of it. Greg Wood has more here…
https://www.theguardian.com/sport/2016/aug/25/betting-black-type-bet-
Simon Rowlands and his team at HBF deserve great credit for shining such a high profile light on the issue.
I agree HBF progress is slow but is being made.I would also like to puff the principle of The Justice For Punters Org who is quoted in the above report.He and they are doing plenty of work in the back ground to raise awareness of account restrictions and closures.Both deserve our active support because this practice is on the increase and the one thing the Bookmakers concerned do not like is publicity about it.If you are not currently affected why should you show any interest.? Well i would say because tomorrow it could be you.
Re black type i have yet to bet with them but do know several backers who have withdrawn winnings without fuss and continue to be laid the £500 take out at the price.I hope they succeed if only because the other firms will not wish them to.
Fairly recent interview with their head of operations here.
http://secretbettingclub.com/blog/2016/12/
No Black Type or Coral Guarantee for the Banana Republic!!
“The past few months have been interesting to observe the punters who value a bookmaker who will finally lay them a bet and those who just can’t resist the temptation of using ‘underhand’ tactics. The majority of punters have been ‘good as gold’, which has been re-enforced by the support we have had from throughout the industry.”
Translation: “using ‘underhand’ tactics” – winning: “The majority of punters have been ‘good as gold’” – losers
They seem like a very small outfit and are using an online betting platform – FSB – they’ve effectively rented (like taking a small store in a mall where all the infrastructure has been built by others).
A noble idea in principle, but they simply cannot survive. Caveat depositor.
I’m with steeplechasing on this, it’s hard enough to pick winners without worrying whether your money is safe or you’ll get paid if you win.
I received an email from RUK yesterday regarding an offer from their betting partners Betway, think they match your initial deposit up to £100. Having read some stories about this company I will not be availing myself of this offer. Apparently it is easy to deposit and lose with them but a lot more difficult to win and withdraw. Punters don’t want that sort of aggravation when having a bet.
I fail to see why HBF have been brought into this thread as if they have some sort of relevance to this new betting website. Will they have some responsibilty if it goes bust?
One of HBF’s reps Tanya Stevenson had the perfect opportunity to tackle Leon Blanche from Boyles on the Douvan farce last week but failed miserably as usual.There is one line from Simon Rowlands in the article that is totally correct and that many people in all areas of horse racing fail to grasp apart from bookmakers who of course don’t care – “The appeal of betting on horse racing is possibly being seriously eroded by the trading practices of individual bookmakers”
If its anything like betway there’s no point. My first bet with them was £250 @ 5/1 which obliged havnt been able to put a half sensible bet on with them since!
Like with the introduction of greyhounds and enhancement of our sports service, the casino was down to public demand.
‘Public demand’ eh? Did they have trouble finding one elsewhere?
Full SBC report (PDF) on Black Type can be downloaded here…
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