December 14, 2020 at 12:08 #1514176
I’m very surprised this isn’t already a very hot topic on the forum?
Am I overreacting? I do hope so lol
I think this is great proposal for problem gamblers but unfortunately the proposals I have seen seem to be tarring all gamblers with the same brush and that everyone will be restricted in some way. Even the most sensible or profitable gamblers are going to be restricted.
Seen proposals of a £100 monhtly deposit limit being applied to all punters unless they provide documentation of ingoings and outgoings to prove they can bet more and even then it will be an affordability assessment and an independent company will decide how much they are allowed to gamble.
For example someone earning £65000 per year would potentially be restricted to a monthly deposit limit of £1000.
Few questions this would raise…
Is this the end of antepost betting? If you gamble regularly and these limits happen to be lower than you would usually bet to then you’re not going to want to use any of your monthly budget on antepost bets.
Is this the end of the exchanges?
You need a hell of a lot of bank roll to be able to lay bets and with people potentially restricted to how much they can deposit each month there’s going to be hardly any layers out there and the exchanges are effectively redundant
Is this the end of professional gamblers ?
Will career gamblers now be unable to sustain a big enough bankroll to bet with to make a living off of this?
Is this the end of horse racing?
Are a lot of people going to be put off because of being assessed like they are applying for a mortgage. Betting companies guaranteed to have lower profits and horse racing relies on bookies heavily for sponsorship.
Personally, I think that these new restrictions should be applied to those who begin to show erratic betting patterns and not just auto applied to all punters as a general thing.
Some punters can bet very big but still in a sensible structured manner. Whereas some can bet small but still be a problem gambler who hasn’t got a clue how to bet efficiently.
What are your guys views?December 14, 2020 at 13:42 #1514184Cork All StarParticipant
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Agree with the above.
If the £100 limit happens, it would presumably drive punters back to cash betting in the shops and on the racecourse. How could shops and racecourse bookies monitor how much you are spending?December 14, 2020 at 13:49 #1514187shipithollabollaBlocked
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I think there will be ways around it (at least for the exchange pros) if it comes to the crunch. Deposit a large float just before the restrictions come into place (enough to ride out a few downswings) and carry on as you were.
You wouldn’t fancy doing that with some of the firms who offer no deposit protection, though – Betconnect, Betfred, Marathonbet, Matchbook and StarSports among them.
Fingers crossed Philip Davies and any other MPs who understand betting can stand up and explain why this would be a bad idea, though. Presumably (as with AML and underage gambling), the onus would be on bookmakers to enforce these rules if they came into place, which would seem a big ask in retail.December 14, 2020 at 14:17 #1514199GingertipsterParticipant
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One of (if not THE) most important issues to my (and everyone else’s) HORSE RACING betting… and it’s been relegated to the Lounge.
Surely issues so important within HORSE RACING should not be removed from the Horse Racing forum just because they affect other groups as well as Horse racing?!value is everythingDecember 14, 2020 at 14:37 #1514203
If the lounge gets less activity and less engagement then the usual horse racing forum (where I originally posted this but got moved to lounge) then that is a big disappointment and like you say ginger, this affects all of us.
This could possibly have the biggest impact on horse racing and gambling industry we have ever seen.
So the more of us that get into discussion the better for everyone and it’s in admins interest aswell as everyone elsesDecember 14, 2020 at 14:47 #1514204Mike007Participant
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Sports Minister Nigel Huddleston stated that the review should strike a balance between individual freedom and protecting problem gamblers, and The UK Chairman of Flutter Entertainment which is the parent company of Paddy Power and Sky Bet told the BBC that he thinks gambling rules do need to be updated for the digital age.
So no need to panic at the moment as there will be discussions to try and keep your everyday Jo from not being impacted too much.December 14, 2020 at 14:50 #1514206Venture to CognacModerator
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Jaso, I’ll send you a PM in half an hour, just on my way to work….December 14, 2020 at 14:53 #1514210GingertipsterParticipant
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Jaso asked the question in the now closed thread in Horse Racing “Why was the thread removed”? Not where has it been moved to.
Please do the right thing and just put the thread back to where it needs to be.value is everythingDecember 14, 2020 at 16:30 #1514215jackh1092Participant
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Listened to the debate on Luck on Sunday. Personally i agree with the view that people with addictive personalities will find something to feed their addictions be it, betting, drinking or drugs. So to limit the whole industry seems daft, they should aim to help people with addictive personalities more rather than ruin a bloody industry.
I haven’t read into this heavily yet, but what happens to those that own their own businesses and don’t necessarily take lots from their company, but can afford to clearly live a nice lifestyle?
Hindsight is 20/20 so make the most of it!December 14, 2020 at 20:54 #1514229Ex RubyLightParticipant
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I guess a limit makes sense when you’re not betting with your own money. Using a credit card and not being able to pay at the end of the month, surely makes things worse.
But, if you enter a regular betting shop or a racecourse you should be allowed to place as much cash as you want to.
As I’ve always said, when placing a bet, you always have 100% of your stake going onto that bet. If you spend 20 grand on a car or on a brand new kitchen, as soon as you leave that dealership, the value of your purchase significantly decreases. However there seems to be no protection in that sphere.December 15, 2020 at 10:31 #1514267
Guys I’m seriously worried about the future of gambling and horse racing.
These proposals would end the exchanges and I think that’s a huge problem.
Anyone who makes a regular profit from gambling will have been banned by normal sportsbooks and turned to the exchanges.
Without them they won’t be able to bet and will go to unregulated operators.
Without the exchanges will this also make bookies less competitive when it comes to odds?
I think these are big problems and I pray to god someone brings this up with the governmentDecember 15, 2020 at 10:42 #1514268Nathan HughesParticipant
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Ginger should be okay as he doesn’t gamble, he invests although it maybe the Government protecting the bookies from ginger…Member since March 2008December 15, 2020 at 11:29 #1514269
Im completely baffled.
Hardly anyone in racing media is taking these proposals seriously and the implications are catastrophic if you think about it for some time.
But no one seems bothered and it’s like it’s business as usual for everyone. Worst case scenario is that this is the end of our sport as we know it.
Why is no one bothered? I don’t get it. Everyone on here is more interested in juvenile hurdlers than this?
These juveniles won’t race past age 7 if these regulations go ahead as the sport will be gone.
We need to do soemthing about itDecember 15, 2020 at 11:42 #1514270Ex RubyLightParticipant
- Total Posts 1854
Well, you also need to prevent criminals from laundering their money when betting in virtual casinos or on horses and sports in general.
You have to close that door as well.
And why would a Cheltenham Gold Cup be less exciting with a smaller bet? To see the athletes performing is more fun than an empty wallet. No one yells when Irish bookies work with 160% in a 20-runner maiden, why is that okay?December 15, 2020 at 11:50 #1514271
I wish these were the issues we were facing I really do.
There’s much worse problems than that. Bookies funding the sport for a start. Prize money will be down massively if bookies aren’t making the same money.
Exchanges will cease to exist as the liquidity will be down massively as you need a huge bankroll to lay bets which won’t be possible anymore.
This will cause markets to be less competitive and the odds bookies give will be much less competitive.
All for the sake of a very small minority of problem gamblers who I feel can be controlled without trying to control every single person that gambled.
And they can easily just go and gamble on forex trading where there will be no restrictions or maybe with their addictive personality they will turn to drink or drugs.
This all makes no sense to me and maybe it’s all just a ploy to stop our sport
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