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Gambling losses could be capped at £100 a month to combat addiction
Gambling losses could be capped at £100 a month to combat addiction
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Replies: 231
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Because MPs have been banging on about bringing online slot games into line with the fobt restrictions for some time. It should be - but there is absolutely no indication of that in the UKGC consultation and accompanying docs. |
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The trouble is, it's hard to think of any arguments against it, other than "we can live with losing too much money, thanks" and "it's none of your bloody business anyway".
Neither of which is going to get us very far. |
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IPL Cricket tournament
60 games will be played in total 56 games played so far with lowest matched in one game so far = £30 million probably has already but come the final on Tuesday the tournament will pass £2 billion Makes £100 seem like a sheet of toilet paper |
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screaming from beneaththewaves
Date Joined: 30 Jan 05 Add contact | Send message 04 Nov 20 17:09Joined: 30 Jan 05 | Topic/replies: 12,923 | Blogger: screaming from beneaththewaves's blog Will you have sympathy for the Betfair exchange, which will be ruined even more? How will that affect IR players and traders on here. It would be impossible to police imo. |
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Ban in-play. Ban trading. Easy.
Next. |
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^wat?
they shut you down if you can't prove that your monthy losses are affordable. What's impossible to police? |
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I really don't think anyone is grasping the gravity of this - everyone on betfair is going to have to set a monthly loss limit unless the GC exempts people who only use p2p.
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I understand the gravity of it. I just can't see any way of arguing against it in terms which those proposing it would understand.
If you tried explaining that you can take arbitrage or trade in a way which involves large nominal losses but a net profit, they'd just dismiss it as chasing. (These are NOT gamblers, remember; they have zero understanding of how it works; just try explaining Betfair even to most people who do gamble, never mind to non-gamblers.) And the argument that you must keep the activity legal and regulated at a level people enjoy, or it will go illegal, hasn't got anywhere at all with drugs. I don't see how it's going to work for gambling either. |
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If it does come into force then so be it. 2 bookies maximum in the High St. Surely they would take a 100 treble on the horses or football?
Regardless, it would be impossible to police. I give four mates a ton each to put on a horse for me and with my ton that's 500. |
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it's online stewarty - they all have to do kyc and prove that they can afford to lose the £100
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What happens if the horse doesn't win?
Five people can't bet for up to 4 weeks. It polices itself. |
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So how are you expected to chase your losses?
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dave1357
Date Joined: 05 Sep 10 Add contact | Send message 04 Nov 20 20:08Joined: 05 Sep 10 | Topic/replies: 14,503 | Blogger: dave1357's blog it's online stewarty - they all have to do kyc and prove that they can afford to lose the £100 So dave, just to simplify. Once the virus is gone, (hopefully) I can attend a race meeting at say Perth for example. Surely the on course books would not ask for kyc? With hundreds cueing up to get a bet on it just wouldn't be feasible surely? |
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I've got some good news as to how all you pro gamblers out there are going to get round it should this outrageous intrusion into your freedom enter into your lives...
Presumably bookmakers are exempt, they lose £100 on a race, no problem... So, all you pro gamblers out there will have to take out bookmaker licences! |
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that illustrates the stupidity of the proposal - a degen gambler will simply lose his money on another outlet - legal or illegal.
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** Sorry, you did say online.
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The bottom line is this. It may happen online but there's no way I or anyone else would be stopped putting 1k on a horse. (nap)
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Fwiw, I believe any restrictions won't apply to horse racing.
As I said above, they're more interested in clamping down on all that online casino crap. Sports betting & especially horse racing are a long way down the track. |
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wesdaq you are wrong - there is no mention of exemptions in the consultation. Online gambling is online gambling.
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read it yourself
https://www.gamblingcommission.gov.uk/news-action-and-statistics/news/2020/Have-your-say-on-tougher-rules-for-identifying-and-tackling-gambling-harm-%E2%80%93-including-customer-affordability.aspx . |
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Maybe been mentioned before, but wouldn’t this effectively be the end of the exchange. If you can’t lose more than £100, you can’t risk more than £100.
No more layers then. |
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People are registering as a Company to get around the stupid max of 6 people being together, the same thing could be done if this Nanny State proposal ever came to pass.
One things for sure, this "Free Country" has changed a lot in my Lifetime, mostly for the good but there are too many "Snowflake" control freaks that have gained the power to propose ridiculous changes that somehow get passed. |
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if anything does happen the big firms have only themselves to blame by putting fobt's before betting,they stopped people betting very small amounts on horseracing whilst letting people lose lots on the machines and it got noticed
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A blockchain exchange would be better than black market operators.
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Absolutely ludicrous idea that would never happen, because clearly it would kill the betting industry - and subsequently horse racing, as George rightly points out.
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If betting went completely as we currently know it surely the way forward now is a dark web exchange/bookies where cryptocurrency is used?
Does one of these already exist? |
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Where's the liquidity and the casual gamblers going to come from in that scenario, Markyacard?
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Absolutely ludicrous idea that would never happen, because clearly it would kill the betting industry - and subsequently horse racing, as George rightly points out.
But that's the whole point of it.  |
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Not to mention a lack of funding for racing to actually take place!
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Carolyn looks like she maybe taking it up the Arris when that photo was taken .
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Imagine trying to explain trading or arbing to that.
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Liquidity would be increased. No regulation = shared global liquidity.
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Latalomne......Not to mention a lack of funding for racing to actually take place!
I confess i hadn't given a thought to racing, the gambling could be on anything unlicensed streamed live onto your laptop bare knuckle bouts, (0ck fighting or a spot of russian roulette if you're that way inclined, tens of millions could be wagered worldwide. screaming from beneaththewaves .....Where's the liquidity and the casual gamblers going to come from in that scenario, Markyacard? Again i can't see any problem liquidity wise. With the roulette as an example the casual gamblers may in time become the competitors, traders could use their platforms to green up after the first chamber is emptied whilst sickos happily take 9/2 the competitor blows their brains out. Decent appearance fee payable to the competitors or their estate. If it didn't need to be illegal channel 5 would be all over it imo :) |
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Markyacard • November 4, 2020 10:41 PM GMT
If betting went completely as we currently know it surely the way forward now is a dark web exchange/bookies where cryptocurrency is used? Does one of these already exist? There are many already last 7odd year. Beware. Dangerous game that. |
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It's the opposite of dangerous.
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More than 40% of people don't like pigeons but they still here, not read all the thread but like a few have said illegal gambling would be back before the industry got ruined.
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That m.p. = Jimmy Hoffa job before gambling gets banned.
She should stick to baking cakes, looks like she's eaten plenty. |
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I suppose the lottery will be exempt. Government invention and sanctioned BBC backed even though 16 year olds could play, and every time I am in my local shop I am stuck behind people who don,t seem to have much money having 25 autopick tickets plus 20 scratch cards , of each type ,and there are so many types.
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yes and it is also exactly the type of gambling - a big win for a small stake - that leads to people spending more than they can afford.
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