General Betting
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03 Aug 11
20:01
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Date Joined:
15 Mar 01
Betfair boss spends £1mDate: Friday 15 Jul 2011
LONDON (ShareCast) - Betfair’s chairman and co-founder Edward Wray has opened his account at the online gambling group in a big way, splashing out £1m on shares.
He took 152,578 at 655.4p a pop. The purchase comes amid a spell of weakness for Betfair’s stock price after the mixed full-year results it reported at the end of last month.
Full year profitability came in ahead of expectations, though it conceded revenue growth "could have been stronger".
Underlying group revenue in the year to 30 April rose 8.1% to £368.6m from £340.9m the year before, while reported revenue jumped 15.4% to £393.3m from £340.9m. Market expectations had been for revenue of £386.2m.
Top Director Buys
Betfair Group (BET)
Director name: Mr Edward Wray
Amount purchased: 152,578 @ 655.40p
Value: £999,996
LONDON (ShareCast) - Betfair’s chairman and co-founder Edward Wray has opened his account at the online gambling group in a big way, splashing out £1m on shares.
He took 152,578 at 655.4p a pop. The purchase comes amid a spell of weakness for Betfair’s stock price after the mixed full-year results it reported at the end of last month.
Full year profitability came in ahead of expectations, though it conceded revenue growth "could have been stronger".
Underlying group revenue in the year to 30 April rose 8.1% to £368.6m from £340.9m the year before, while reported revenue jumped 15.4% to £393.3m from £340.9m. Market expectations had been for revenue of £386.2m.
Top Director Buys
Betfair Group (BET)
Director name: Mr Edward Wray
Amount purchased: 152,578 @ 655.40p
Value: £999,996
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Replies: 11
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Should be able to top that up to 152,579 soon with the change.
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LOL... just goot that Lori...
Was about to say he had a result not spending the other 4 quid ! |
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Having said that, hes obviously the sort of punter Betfair are now looking for...
No danger of a Premium Chrge there... Ha Ha... |
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Your slip is showing girls.
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Actually profits from shares are taxed and taxed like the premium charge only city boys don't
 cry about paying charges to environments they live and trade in unless your the head investor for bearings bank (worst gambler in history)  |
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profits on shares are only taxed once realised, not like on here.
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Not on here ?
I thought the PC was on actual GP ? As you perhaps confusing things with the fact that realised share profits and losses can be offset over a tax year, but on BF there is no offset of losses against profits over any reasonable period ? |
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" Are you perhaps---"
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I mean I don't consider profits realised until they are withdrawn. Until then it's a paper profit, similar to owning shares that double or triple in value while you hold them.
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Not in accounting terms.
A profit in gambling would be considered to be fully realised when the event is finished. Nothing to do with when you take your cash out of your account. |
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I don't consider it as realised until withdrawn, although what you're saying does make sense. You can view each bet in isolation, but even Betfair don't do that when charging PC.
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