General Betting
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He says " Paul Roy isnt wrong... when he says that " no-one can be in business acting as a boomaker on betting exchanges without paying full levy ".
" Betfair forumites will cough , splutter and hide behind the spurious notion that any layer of a horse is also a backer , in the sense that he is , in effect , backing all the other horses in the race , and vice-versa.
On this basis , Ladblokes , C oral and H ills could be deemed to be all punters , and spared the inconviences of levies , licences , taxes and the need to be fit and proper persons.
Betfair arent simply a bunch of like-minded souls sitting around in their armchairs over a mug of cocoa and a packet of Hobnobs ; a relatively small but still significant number of people are making a living at it , without being subject to the same kind of regulation or financial impostion as licensed individuals" .
Peter thats because they are pro gamblers whether they make their money from bookmakers or exchanges.
" Betfair forumites will cough , splutter and hide behind the spurious notion that any layer of a horse is also a backer , in the sense that he is , in effect , backing all the other horses in the race , and vice-versa.
On this basis , Ladblokes , C oral and H ills could be deemed to be all punters , and spared the inconviences of levies , licences , taxes and the need to be fit and proper persons.
Betfair arent simply a bunch of like-minded souls sitting around in their armchairs over a mug of cocoa and a packet of Hobnobs ; a relatively small but still significant number of people are making a living at it , without being subject to the same kind of regulation or financial impostion as licensed individuals" .
Peter thats because they are pro gamblers whether they make their money from bookmakers or exchanges.
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It is almost as though these people exist on a totally different plane to the normal everyday joe. In fact it's abundantly clear they do exist in another dimension when it comes to matters of common sense.
Unless he is after Howards job,its barmy logic,is he really saying that nobody,nobody is allowed to make a profit from punting except the bookmaker - well how about telling the public that because there are lots of other ways they can spend their money,particularly that bloke who lost over a 100 million with La-bks in 2008.
And let me point out that the total sum of levy generated if you charged the tiny ammount of exchange layers who make a profit in any given year would not be greater than the ammount of levy lost if bf went offshore,so bf could pay the customers levy and still be better off.
What the sec of state would think of a BHA chairmans action leading to a substantial loss of tax by virtually forcing a company offshore is anybodys guess,but I don't imagine he would be happy.
hope that helps.
And let me point out that the total sum of levy generated if you charged the tiny ammount of exchange layers who make a profit in any given year would not be greater than the ammount of levy lost if bf went offshore,so bf could pay the customers levy and still be better off.
What the sec of state would think of a BHA chairmans action leading to a substantial loss of tax by virtually forcing a company offshore is anybodys guess,but I don't imagine he would be happy.
hope that helps.
On this basis , Ladblokes , C oral and H ills could be deemed to be all punters , and spared the inconviences of levies , licences , taxes and the need to be fit and proper persons.
By the same argument all backers with bookmakers are layers and should also pay levy.
Any bookmaker is at liberty to offer odds on a horse to lose just as betfair the bookmaker do. The fact they choose not to do that (the direct way at least) is their choice.
By the same argument all backers with bookmakers are layers and should also pay levy.
Any bookmaker is at liberty to offer odds on a horse to lose just as betfair the bookmaker do. The fact they choose not to do that (the direct way at least) is their choice.
Peter Thomas :- Paul Roy isnt wrong... when he says that " no-one can be in business acting as a boomaker on betting exchanges without paying full levy ".
Betfair forumites will cough , splutter and hide behind the spurious notion that any layer of a horse is also a backer , in the sense that he is , in effect , backing all the other horses in the race , and vice-versa.
On this basis , Ladblokes , C oral and H ills could be deemed to be all punters , and spared the inconviences of levies , licences , taxes and the need to be fit and proper persons.
By the same argument all backers with bookmakers are layers and should also pay levy.
Any bookmaker is at liberty to offer odds on a horse to lose just as betfair the bookmaker do. The fact they choose not to do that (the direct way at least) is their choice.
Betfair forumites will cough , splutter and hide behind the spurious notion that any layer of a horse is also a backer , in the sense that he is , in effect , backing all the other horses in the race , and vice-versa.
On this basis , Ladblokes , C oral and H ills could be deemed to be all punters , and spared the inconviences of levies , licences , taxes and the need to be fit and proper persons.
By the same argument all backers with bookmakers are layers and should also pay levy.
Any bookmaker is at liberty to offer odds on a horse to lose just as betfair the bookmaker do. The fact they choose not to do that (the direct way at least) is their choice.
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