Without The Exchanges

The industry as a whole is far more likely to see more and more money being bet with Asian books, who take huge bets and don't (or rarely) restrict people.

However, I don't know if the Asian books would ever really have an interest in UK horse racing (there's not enough money in it for them), so it will have to eventually go pari-mutual only like almost every other racing market in the world.

I am not aware of any racecourse bookmaker banning or restricting anyone , ted

adge, are racecourse books required to publish accounts?

publish prob wrong word but I think you will know what I mean, no offence if you don't answer

those that have formed their business into limited companies for tax reasons YES
the majority who are sole traders [ like myself ] also have to produce annual accounts but only for the inland revenue

I think you also need them for the greatest institution of our time - the GC - unfortunately they don't seem to get any of the underground accounts!!

Without the exchanges the big bookmakers would still be happily laying under the odds and accepting bets.

I guess you can look at it in two ways. The exchanges have either enhanced your gambling experience, or eroded it imo.

I think with the introduction of exchanges bookmakers have become a lot more inclined to refuse a bet. We all know they all have access to and use these sites on a regular basis. One tactic they use especially during a festivals and the top graded races on C4 when 2 or 3 of the runners in a particular top class race (never at the same time) all of a suddenly has 20-50k spread over the 3 lay-side boxes (wanting to back) it sure isn't someones or a collection of people's opinions thats for sure! Its bookmakers trying to get a view on how the market is going to go. You can use this at your advantage, i know, i do. It does during run of the mill racing during the week too but obviously no where near to the same degree.

The use of the exchanges have also given the punter more of an edge on working out whether the sp is likely to be bigger or shorter. So no wonder bookmakers restrict. I've heard and read all the reasons and excuses and sob stories from punters on here over the years but the truth is, peg back yer staking, imo its as simple as that!

Interesting thread, imo!

Adge,

     Do course bookies have to register for vat, based on turnover?

Years ago, when I was a contractor ( small-time), I got fined by the Customs and Excise ( the Vatman) for failing to register on time. My turnover had rocketed past the thresh-hold for registration.

Needless to say, I got the hump over this, especially as all my books and returns were up to date and vetted by a chartered accountant ( expensive).
The thresh-hold wasn't very high in those days; I'd guess that course bookies would go over it in less than a month.
I was a sole trader too.

no sean , we are in an exempt category but we are still charged vat on all racecourse fees , entrances , etc etc

.

Thanks, Adge.

You're an exempt category and cannot reclaim vat, so.
Probably, a better situation, really.
I tried everything but never managed to make much from being vat registered.
Maybe there is a way to make it pay, but I never found it.
  On the other hand, I knew an estimator who had worked for a big civils firm ( boss owned a string of racehorses) and he said he looked forward to doing the vat returns.
"We did alright out of them" he reckoned.