Chit Chat
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So in recent months we have been notified that terms and conditions have changed with most of our online bookmakers.
Rather than read though all of the terms and conditions, can we get a summary of how this will affect punters.
From what I gather from reading other threads on this:
- Bookies were taxed 15% of Gross Profits now for UK based firms on all bets. It will be 15% for all bets placed by people living in the UK. If this is true this is a huge jump in tax bookies must pay and will result in less value for the punter.
http://community.betfair.com/general_betting/go/thread/view/94082/30344787/new-uk-law-on-bettingpoint-of-consumption-tax?post_id=541520691#541520691#flvWelcomeHeader
- Some bookmakers will be unavailable to UK customers, sbobet and pinnacle the main ones so far. As a result their odds will remain competitive and there will be no net effect to non-UK customers.
- The bookmakers with the new license now need to be more transparent and as a result there will not be as many unfair disputes against the punter, such as seized funds by unibet (if they've obtained a license)
Am I off the mark with any of this? Are there any other consequences of this change that I've left out?
Rather than read though all of the terms and conditions, can we get a summary of how this will affect punters.
From what I gather from reading other threads on this:
- Bookies were taxed 15% of Gross Profits now for UK based firms on all bets. It will be 15% for all bets placed by people living in the UK. If this is true this is a huge jump in tax bookies must pay and will result in less value for the punter.
http://community.betfair.com/general_betting/go/thread/view/94082/30344787/new-uk-law-on-bettingpoint-of-consumption-tax?post_id=541520691#541520691#flvWelcomeHeader
- Some bookmakers will be unavailable to UK customers, sbobet and pinnacle the main ones so far. As a result their odds will remain competitive and there will be no net effect to non-UK customers.
- The bookmakers with the new license now need to be more transparent and as a result there will not be as many unfair disputes against the punter, such as seized funds by unibet (if they've obtained a license)
Am I off the mark with any of this? Are there any other consequences of this change that I've left out?
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The 15% tax helps to make a level playing field for all those UK based bookies who are already paying 15% on Gross Profits and being undercut by all the firms based offshore.
The odds offered by these -mostly online- firms will be more in line with what's generally available in the shops from December onwards. This wasn't really the doing of the Gambling Commission though. It was a government move. To answer your original question, The GC doesn't really serve much of a purpose at all and exists mainly to serve itself, with a big fuss about problem gambling/gamblers and completely ineffective (possibly deliberately) 'methods' to combat this. They also possess no real grasp of the gambling industry whatsoever. |
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SF is spot on.
The GC is a self serving Quango who occasionally make a statement to justify their jobs. They could help to lessen problem gambling straight away, by limiting bets per spin on FOBTs to £5 or £10, but they are told not to by the government who are constantly lobbied by the big 4. And, as they are basically funded from betting levies, it would be like turkeys voting in favour of Christmas. |
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Actually they're funded by the operators (betting shops, casinos, bingo halls) in a disproportionate manner.
A single shop operation, for example, has to pay them over £1500 a year for a licence. It works out MUCH less expensive for the bigger bookmakers who pay somewhere around £120 per shop per year. They jolly good wages for themselves too. |
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Too true, Studyform. Little operators subsidising the big boys - who are in bed with the Gambling Commission. They are a truly disgraceful and unnecessary governing body who don't practice what they preach (openness and fairness).
Bet 3.65 a while back ignored procedure and won a couple of mill off someone who'd nicked millions off their employer and were aware from the gambling history that all was not right; a similar thing happened to one of the big boys winning millions off a drug lord. The Gambling Commission found out, let Bet £3.65 keep the £2m, told them off and fined them just £70k and similarly 'punished' the other one of the big boys. I'm sure that'll teach 'em!!! |