Long term prospects of Betfair/exchanges

[acecard]

As for legislation to ban them that won't happen either, online bookies based oversea's sprung up so punters didn't have to pay tax on winnings which crippled the UK high st bookies who couldn't compete, the Labour Government had to then abolish the betting tax or risk the whole high st betting industry going under.
So any attempts to ban or even heavily tax it would just see it get move offshore and users will quickly find a way to still access it

But with regards to legislation, Betfair have left so many countries recently for what I can only imagine are legislative issues.......what makes the UK so different that it would be less likely to happen to us here?

[greenmark]

No Tory government would harm the exchange model.
What about Corbynite Labour? Dunno, if they're really dim/idealogical then maybe they would shut it down.
If we arrrive at a Corbynite government its going to be even more intriguing than a BoJo government.

[Dallas]

As for legislation to ban them that won't happen either, online bookies based oversea's sprung up so punters didn't have to pay tax on winnings which crippled the UK high st bookies who couldn't compete, the Labour Government had to then abolish the betting tax or risk the whole high st betting industry going under.
So any attempts to ban or even heavily tax it would just see it get move offshore and users will quickly find a way to still access it

But with regards to legislation, Betfair have left so many countries recently for what I can only imagine are legislative issues.......what makes the UK so different that it would be less likely to happen to us here?

Betfair was founded here and is a multi-million pound UK company who's shares are traded on the London stock exchange.

The main reason other countries refuse or make it very difficult by way of cost's and taxes for Betfair to obtain a gambling licence is mainly down to their own local gambling industry etc worried about their profits declining and for some countries they also don't like the idea of money flowing out of their country through gambling/betting hence Spain and Italy have there own BF exchanges just for their citizens.

[acecard]

As for legislation to ban them that won't happen either, online bookies based oversea's sprung up so punters didn't have to pay tax on winnings which crippled the UK high st bookies who couldn't compete, the Labour Government had to then abolish the betting tax or risk the whole high st betting industry going under.
So any attempts to ban or even heavily tax it would just see it get move offshore and users will quickly find a way to still access it

But with regards to legislation, Betfair have left so many countries recently for what I can only imagine are legislative issues.......what makes the UK so different that it would be less likely to happen to us here?

Betfair was founded here and is a multi-million pound UK company who's shares are traded on the London stock exchange.

The main reason other countries refuse or make it very difficult by way of cost's and taxes for Betfair to obtain a gambling licence is mainly down to their own local gambling industry etc worried about their profits declining and for some countries they also don't like the idea of money flowing out of their country through gambling/betting hence Spain and Italy have there own BF exchanges just for their citizens.

Hmmmm interesting........perhaps this is a big reason for the apparent decline in liquidity on the BF exchange that I hear so many veteran traders talk about......not necessarily because less people are putting money through but rather because of changes in legislation which mean countries like Spain and Italy for example have their own BF exchange. Australia too. Perhaps the liquidity is pretty much the same, just we in the UK no longer see it all???

[ANGELS15]

I was thinking the other day that in recent times there has been a drive towards controlling problem gambling. A recent example would be the lowering of the bookies fruit machine stakes to a maximum of £2. I wonder if a future government may decide to do something with staking for betting perhaps setting a maximum stake. This would impact on exchange trading. Mind you I couldn't see 'high rollers' who work in the city, top industries who donate to and support the various political parties being told they can only bet say maximum £50 on a race! This would kill events like Royal Ascot, Cheltenham etc so lets hope it doesn't happen!

[iambic_pentameter]

I can't recall the exact phrase Euler used on Twitter recently, but it was something along the lines that the longer something has been in existence, the more likely it is to continue.

[ruthlessimon]

I can't recall the exact phrase Euler used on Twitter recently, but it was something along the lines that the longer something has been in existence, the more likely it is to continue.

I've been looking for that quote too

It's an interesting one, because it kinda invalidates a core trading premise (incoming off topic remark ). "If you're not constantly working on your edge, you'll lose it" - yet, "the longer something has been in existence, the more likely it is to continue", basically the opposite - & I'm inclined to (nervously) agree with the latter

[Emmson]

Lindy Effect!

[Euler]

Rather than a one off quote, I've edited my original response, I made that comment after reading 'algorithms to live by'

It's worth reading that book.