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Isn’t changing winning sleepers to losers – Fraud?
Isn’t not returning void sleepers – Theft?How are these audited in the accounts?
I used to work for one of the big three and would get so angry with my manager when she played the hard line with theses sleeper bets. I remember telling a regular his bet was too late once and he would get his money back which he did. However we did have the power to change any bets which were acceptably delayed at our discretion, therefore paying out the full winnings. This happens more often than you would think, however its usually lazy sods or sneaky rats that wait for the start especially in short races then place a bet in this case i dont think they should be paid for winners. Its when the innocent punter gets done that it becomes a shame. If someones bet is too late they should be told instantly simply to avoid any discrepancies, a computer system would not work though as sometimes we used to take late bets if the situation was our fault for instance a large que and lack of staff.
Isn’t changing winning sleepers to losers – Fraud?
Isn’t not returning void sleepers – Theft?How are these audited in the accounts?
Well quite, enquiring minds would like to know!
Friggo
In the Tote accounts for year 2003-4 they had £3.6 million left in the accounts solely from sleepers.They re-adjusted the accounting procedures as they used not to include money from sleepers until 6 years they now include it after 1 year.
On the Racing Economics website they gave the total of ‘sleepers’ as between a wild estimate of £500 million and a conservative £10 million a year.
So whilst it may be low in the total percentages of bookmakers profits it is not an unsubstancial sum.
And of course it is not a profit it was only their money if the bet was placed correctly and had lost.
The government suggested in the new Gambling Review.
‘One option for funding by betting shop operators may be to pass on all sleepers to one or all of the arbitration orginisations.
A precident for this already exists in The National Lottery where unclaimed prize money is held in a seperate trust account.
If a prize is unclaimed after 180 days it is transfered to the national lottery distribution fund.
Any interest earned on this account is also paid net of expenses to the distribution fund.’Personally, through many reasons there will always be sleepers but if they passed it on to a racing charity if the money came from a horse bet or to the Greyhound Trust if it came from a ‘dog’ bet or a football sleeper on towards some football charity I would not have any problem.
What they currently do ammounts to theft as it is not much difference from me finding a wallet full of money and not handing in to the police but depositing it all in my bank account.
Why not after a year or two, donate any sleepers to the racehorse rehabilitation centres?
Ginge
Value Is EverythingHi
I find it incredible that people are always too ready to vent their spleen on bookmakers who I have found over more years then I care to remember very reasonable and upright citizens which is more than I can say the greatest rip off merchants of all times Banks, financial institutions and supermarkets. Try asking banks and bond providers what they do with dormant accounts and here we really are talking millionsHi
I find it incredible that people are always too ready to vent their spleen on bookmakers who I have found over more years then I care to remember very reasonable and upright citizens which is more than I can say the greatest rip off merchants of all times Banks, financial institutions and supermarkets. Try asking banks and bond providers what they do with dormant accounts and here we really are talking millionsmaybe they complain on the Bank Forum about that…??
Hi
I find it incredible that people are always too ready to vent their spleen on bookmakers who I have found over more years then I care to remember very reasonable and upright citizens which is more than I can say the greatest rip off merchants of all times Banks, financial institutions and supermarkets. Try asking banks and bond providers what they do with dormant accounts and here we really are talking millionsYou are right Dougal, it is the bad stuff that usually gets aired on here not the good. I lost an on course winning ticket once. Because I knew who it was with, horse and how much I had on, there was no problem getting paid. I do find that on course bookies are usually very genuine people. Apart from that Barry of course.
Ginge
Value Is Everything
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