I felt exactly the same; where was the mention of exchanges? I think if they had even done a 5 min section on exchanges with Peter, that would generate massive demand.
On the downside; I felt saddened by the young man Stuart who lost his fortnightly money on the games machines. He was a broken man.
Regards
Peter
Britain at the Bookies
You hit the nail right on the head there LeTiss.LeTiss 4pm wrote:I thought the bookies came out of that show pretty poorly
It's clear how quickly they shut down winners, yet encourage problem gamblers on benefits to lose everything they have
Peter could you not go to a production company and offer to do the same as what Lex van Dam did in the UK series Million Dollar traders.Euler wrote:I've tried many times, but it seems hard to generate interest. I mean some of the stories are incredible and put to shame some of the rubbish you see on TV. But people seem to paint us with the same brush at traditional gamblers.
https://en.wikipedia.org/wiki/Million_Dollar_Traders (all 3 epeiosdes are avalible on you tube)
Am sure if you where putting the capital up so there was no risk to the production company there would definetly be enough would be sports traders out there who would want to give it a go. There sould certainly be enough intrest amoung the general public to watch considering some of the observational documentries they show and maybe it will sway more people from the outdated concept of using bookies to place bets.
Andy
That program really did nothing to improve the image of the bookie. Particularly the casino type machines that are popping up everywhere, including online. I would love to know what way they are rigged up in terms of payout. also the young man with the serious gambling addiction who had no food after putting all his money into these things
The unfortunate part is that us traders would be seen by the general public as operating in the same sphere as these folk
The unfortunate part is that us traders would be seen by the general public as operating in the same sphere as these folk
A typical poorly researched television programme aimed (correctly) at the widest possible audience. Its not meant for serious traders/punters but like many programmes is aimed so that everyone can understand it and be "shocked" "horrified" at a pastime that they do not participate in.
You could focus on any industry and find "issues" Just off the top of my head
Fishing Industry: Quotas, Health and Safety.
Utilities: Overcharging, Meter abuses, 2 tier charging.
Estate Agents, Do nothing for the money, gazumpuing
Fast food: Animal Welfare, Hygiene
Charitys: Earning interest off donations, swanky offices, chuggers.
etc, etc, etc
The programme makers brief is always to find an issue, receive column inches, create controversy. The truth takes a back seat.
You could focus on any industry and find "issues" Just off the top of my head
Fishing Industry: Quotas, Health and Safety.
Utilities: Overcharging, Meter abuses, 2 tier charging.
Estate Agents, Do nothing for the money, gazumpuing
Fast food: Animal Welfare, Hygiene
Charitys: Earning interest off donations, swanky offices, chuggers.
etc, etc, etc
The programme makers brief is always to find an issue, receive column inches, create controversy. The truth takes a back seat.
You need to be concerned that you are concerned about the general public, why care?The unfortunate part is that us traders would be seen by the general public as operating in the same sphere as these folk
You need to be concerned that you are concerned about the general public, why care?[/quote]lord wrote:
I care because if there is specific legislation down the line to curb problem "gambling", that I , as a trader would suffer under this blanket approach.
Quite enjoyed the program to be honest, I used to work in the betting shops so could relate to a lot of it. Felt sorry for the two girls being sent to the rough shop,one by her own dad too! I remember there was always at least one shop in every area that nobody wanted to work in.
I had it lucky where I was really, some of the stories you used to hear from people who worked in the rougher area shops, they got abused, spat at, threatened, stuff thrown at them on a daily basis, mostly for minimum wage too. The fruit machine addicts were always the worst ones too, I'd hate to be in there now dealing with some nutcase who had just lost all his money playing roulette and decided to start taking it out on the machine.
I think the number of shops will die right down again soon, the explosion only came due to the fobts. With the higher taxes, higher shop rates, and more awareness of just how addictive they are they won't be able to sustain the costs soon and it will be back to just one or two shops in each area. I think it will die, just like the rest of the high street.
The scary thing though is that all these games can be played online and on your phone 24 hours a day. That's where every firm seems to be heading, pushing you towards these silly arcade games which are impossible to win at long term and are extremely appealing to people of an addictive nature.
Even betfair have emailed me 5 times this week to remind me that I should be playing on betfair arcade spinning to win my chance to win something or other.
I had it lucky where I was really, some of the stories you used to hear from people who worked in the rougher area shops, they got abused, spat at, threatened, stuff thrown at them on a daily basis, mostly for minimum wage too. The fruit machine addicts were always the worst ones too, I'd hate to be in there now dealing with some nutcase who had just lost all his money playing roulette and decided to start taking it out on the machine.
I think the number of shops will die right down again soon, the explosion only came due to the fobts. With the higher taxes, higher shop rates, and more awareness of just how addictive they are they won't be able to sustain the costs soon and it will be back to just one or two shops in each area. I think it will die, just like the rest of the high street.
The scary thing though is that all these games can be played online and on your phone 24 hours a day. That's where every firm seems to be heading, pushing you towards these silly arcade games which are impossible to win at long term and are extremely appealing to people of an addictive nature.
Even betfair have emailed me 5 times this week to remind me that I should be playing on betfair arcade spinning to win my chance to win something or other.
Yes Archangel, and you are wise to be concerned,i misread your concerns. I read it as you were concerned as an individual what others thought of you, rather than the legislation/public opinion angle.I care because if there is specific legislation down the line to curb problem "gambling", that I , as a trader would suffer under this blanket approach.
We can all see what happened and is happening with banks as legislation tightens after abuses. In their case much of the legislation was required but I expect there were genuine products that have been adversely affected by the tightening of legislation and the growing clamour for action to be taken. (Baby out with Bathwater)
The episode tonight was interesting with the on couse bookies. Not too sure about the guy with a baby on the way as he desperately trys to build a bank though
I really hope they do a episode about Betfair and the exchanges
I really hope they do a episode about Betfair and the exchanges
I didnt watch epsiode 1, but, was amused by episode 2.
Everyone likes to cheer on winners - but, the personalities aside, althou racing / gambling can be glamorised, the reality is, its hard to win, on all sides of the spectrum, once expenses are taken out.
Some oddities, during the epsiode.
Coral seemed to think, 80k-100k was a big liability, across the internet/shops, for a horse race. If they have 1800 shops .. the avg liability per shop, is £45. Maybe it shows how bad horse racing has become - I would have expected it to be much higher.
The guy at auction, paid £40k for a horse, he wanted to buy for £20k. Ok, maybe he was hoping it would go for £20k, but, was £40k, reasonable ? I would guess not .. especially, as the stats show, v few horses, actually win a race.
If the bookie wanted to win £400 per race, logically, he needs to hold £4000 per race, betting at 10% margin. To hold £25k, on a sat, is going some .. even on a big race-day - maybe there is more money in the north.
I have never understood, how self-proclaimed pros, can have casual bets on greyhounds in the shops, when BAGS have 25% over-rounds - and they werent even checking, what the exchange was.
Gambling was portrayed as a social distraction - but, it didnt show the serious nature of the despos, who really fall-in. Maybe the show, doesnt have the time alloted etc.
Everyone likes to cheer on winners - but, the personalities aside, althou racing / gambling can be glamorised, the reality is, its hard to win, on all sides of the spectrum, once expenses are taken out.
Some oddities, during the epsiode.
Coral seemed to think, 80k-100k was a big liability, across the internet/shops, for a horse race. If they have 1800 shops .. the avg liability per shop, is £45. Maybe it shows how bad horse racing has become - I would have expected it to be much higher.
The guy at auction, paid £40k for a horse, he wanted to buy for £20k. Ok, maybe he was hoping it would go for £20k, but, was £40k, reasonable ? I would guess not .. especially, as the stats show, v few horses, actually win a race.
If the bookie wanted to win £400 per race, logically, he needs to hold £4000 per race, betting at 10% margin. To hold £25k, on a sat, is going some .. even on a big race-day - maybe there is more money in the north.
I have never understood, how self-proclaimed pros, can have casual bets on greyhounds in the shops, when BAGS have 25% over-rounds - and they werent even checking, what the exchange was.
Gambling was portrayed as a social distraction - but, it didnt show the serious nature of the despos, who really fall-in. Maybe the show, doesnt have the time alloted etc.
BTW, the office of the bespoke bookie, Ben Keith, was the ex-office, of London bookie, Tony Morris.
It has some great momentos, of his past - he was a giant amoungst bookies - and perhaps oddly, was a serious friend of Bernie Ecclestone - who, loved to punt.
It has some great momentos, of his past - he was a giant amoungst bookies - and perhaps oddly, was a serious friend of Bernie Ecclestone - who, loved to punt.
I would imagine, in general, putting value on young racehorses must be quite difficult. Obviously it will come down to the breeding of the throughbred , so a horse could sell of 5k, or £1m. The horse could win the derby, or never even run. It seems more gambling than business, unless they are going down the breeding routemegarain wrote: The guy at auction, paid £40k for a horse, he wanted to buy for £20k. Ok, maybe he was hoping it would go for £20k, but, was £40k, reasonable ? I would guess not .. especially, as the stats show, v few horses, actually win a race.
I have never understood, how self-proclaimed pros, can have casual bets on greyhounds in the shops, when BAGS have 25% over-rounds - and they werent even checking, what the exchange was.
.
I think that guy who was betting golf and talked about winning 50k one weekend, now seemed quite broke, when he lost his stake on Darts... prob had a gambling problem. He seemed to assume betting was going to make him and his family comfortably rich
As i said it would be cool if they did an episode on exchange traders
I was surprised not to see any of the on course bookies laying off there liabilitys on BF as we know they do, take the Bookie keith in last race at Doncaster when he gave the owner 18/1 he could of easily reduced his £500 liabilty by putting just half though BF and probebly getting odds around 26.0
But then that asks the question why did nt the owner pull out his phone and place his £40 directly with BF and get odds around top 20s instead of haggling with a course bookie to move him from 16/1 to 18/1
But then that asks the question why did nt the owner pull out his phone and place his £40 directly with BF and get odds around top 20s instead of haggling with a course bookie to move him from 16/1 to 18/1
Yes I agree. probably down to the general ignorance of the exchange. I havent heard Betfair even mentionedhilly2908 wrote:I was surprised not to see any of the on course bookies laying off there liabilitys on BF as we know they do, take the Bookie keith in last race at Doncaster when he gave the owner 18/1 he could of easily reduced his £500 liabilty by putting just half though BF and probebly getting odds around 26.0
But then that asks the question why did nt the owner pull out his phone and place his £40 directly with BF and get odds around top 20s instead of haggling with a course bookie to move him from 16/1 to 18/1