New bookies vs Ponzi schemes

The GC is consulting about this

http://www.gamblingcommission.gov.uk/research__consultations
/consultations/open_consultations/protection_of_player_funds.aspx

This is in addition to the law being changed so that anyone taking bets from uk residents must be GC licensed.

So I would avoid smaller online bookies like the plague next year, as they probably won't be able to get licensed and use this as an excuse to stiff uk residents.

Surely it's the case though that if you do this with lots of bookies you'll get your money out most of the time, covering losses due to scammers?

It's not just new companies you need to be careful of. Betsson have been established for decades, and they  emailed me to say they had "confiscated" my funds, and would refuse to discuss it further with me, giving no reason for doing so, other than that they couldn't verify my identity. Even sending documents verified by a solicitor did not lead to a response from them. It was a relatively small sum of money for me, but it really made my blood boil that they can get away with this.

I have had one firm go bump on me costing plenty and another one is a very slow payer so in future I will be avoiding.

Does anyone remember a site called the pool ? it worked as pool betting like the tote except it was footy  not horses. i used to get some cracking prices out of it because distorted markets and arbed it out. sadly they went wobbly and i took them to court for my money and won and they actually paid prompt as well with costs. Although they did stop trading shortly after.

"New bookies vs Ponzi schemes"

For a second I thought that as match in the South African league