New Posts For Thread: Smarkets affordability chequeshttps://community.betfair.com/horse_racing/go/thread/view/94102/31832775/smarkets-affordability-chequesAnyone got any experience of these ? TIAMy account was closed too. Just here left.https://community.betfair.com/horse_racing/go/thread/view/94102/31832775/smarkets-affordability-cheques?post_id=563827373#563827373My account was closed too. Just here left.Sun, 25 Feb 2024 03:20:09 -0600there is a targeting of shrewd accounts but they also got fined for some failings including not doing checks (or enough) on their users, think it was a couple of years ago and was in excess of i/2 mill i can't see them surviving in current form, didhttps://community.betfair.com/horse_racing/go/thread/view/94102/31832775/smarkets-affordability-cheques?post_id=563827367#563827367there is a targeting of shrewd accounts but they also got fined for some failings including not doing checks (or enough) on their users, think it was a couple of years ago and was in excess of i/2 mill i can't see them surviving in current form, didSun, 25 Feb 2024 03:14:47 -0600In the notes to the accounts (1.3) it says the director has a reasonable expectation that the group has adequate resources to continue in operation for at least 12 months from signing off the accounts (29/9/23).It says that at the tail end of 2022 thhttps://community.betfair.com/horse_racing/go/thread/view/94102/31832775/smarkets-affordability-cheques?post_id=563827043#563827043In the notes to the accounts (1.3) it says the director has a reasonable expectation that the group has adequate resources to continue in operation for at least 12 months from signing off the accounts (29/9/23).It says that at the tail end of 2022 thSat, 24 Feb 2024 16:08:44 -0600it's because of betting taxes, payment service provider costs of customer deposits and withdrawals and affiliate costshttps://community.betfair.com/horse_racing/go/thread/view/94102/31832775/smarkets-affordability-cheques?post_id=563827019#563827019it's because of betting taxes, payment service provider costs of customer deposits and withdrawals and affiliate costsSat, 24 Feb 2024 15:51:24 -0600if it's revenue is entirely commission, why are the revenue and gross profit different? There aren't input costs - administration is detailed separately.https://community.betfair.com/horse_racing/go/thread/view/94102/31832775/smarkets-affordability-cheques?post_id=563827005#563827005if it's revenue is entirely commission, why are the revenue and gross profit different? There aren't input costs - administration is detailed separately.Sat, 24 Feb 2024 15:41:16 -0600If you had an account balance/exposure there, you'd definitely want to know how your liabilities and credit balances are protected / ring fenced.https://community.betfair.com/horse_racing/go/thread/view/94102/31832775/smarkets-affordability-cheques?post_id=563826773#563826773If you had an account balance/exposure there, you'd definitely want to know how your liabilities and credit balances are protected / ring fenced.Sat, 24 Feb 2024 13:32:36 -0600You'd need to know the breakdown of assets to know the working capital (ie what proportion of assets are current). You could potentially have nonsense intangible assets to game the accounting (for example).https://community.betfair.com/horse_racing/go/thread/view/94102/31832775/smarkets-affordability-cheques?post_id=563826763#563826763You'd need to know the breakdown of assets to know the working capital (ie what proportion of assets are current). You could potentially have nonsense intangible assets to game the accounting (for example).Sat, 24 Feb 2024 13:27:23 -0600Far better than Sporting Options CLYDEBANK.https://community.betfair.com/horse_racing/go/thread/view/94102/31832775/smarkets-affordability-cheques?post_id=563826663#563826663Far better than Sporting Options CLYDEBANK.Sat, 24 Feb 2024 12:26:46 -0600So unless I'm missing something? they've effectively only got £12m of working capital as at 31/12/22. And in the last 2 years they've suffered losses of £17m and £17.7m. It's been 14 months since that date and if I search financing on Google, alhttps://community.betfair.com/horse_racing/go/thread/view/94102/31832775/smarkets-affordability-cheques?post_id=563826631#563826631So unless I'm missing something? they've effectively only got £12m of working capital as at 31/12/22. And in the last 2 years they've suffered losses of £17m and £17.7m. It's been 14 months since that date and if I search financing on Google, alSat, 24 Feb 2024 12:11:56 -0600All taken from Companies House Profit and Loss for last 2 yearsIn £ Million year to 31/12/21Revenue £20.25mGross Pft £12.7mAdmin (£30.1m)Other £0.3mLoss (£17m)In £ Million year to 31/12/22Revenue £18.1mGross Pft £9mAdmin (£27m)Other £0.3mLhttps://community.betfair.com/horse_racing/go/thread/view/94102/31832775/smarkets-affordability-cheques?post_id=563826629#563826629All taken from Companies House Profit and Loss for last 2 yearsIn £ Million year to 31/12/21Revenue £20.25mGross Pft £12.7mAdmin (£30.1m)Other £0.3mLoss (£17m)In £ Million year to 31/12/22Revenue £18.1mGross Pft £9mAdmin (£27m)Other £0.3mLSat, 24 Feb 2024 12:07:37 -0600