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Gambling is for cool people

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Comments

  • Registered Users Posts: 472 ✭✭J-Fit


    And here's one more for you. Happy?

    http://www.geekstoy.com/forum/showthread.php?t=5640&highlight=premium+charge

    Think before you post.:mad:


  • Closed Accounts Posts: 4,552 ✭✭✭pakalasa


    J-Fit wrote: »
    And here's one more for you. Happy?

    http://www.geekstoy.com/forum/showthread.php?t=5640&highlight=premium+charge

    Think before you post.:mad:

    I think it is you who should think before you post. Do you really believe that people clever enough to win €250k will pay 60% tax. Get real.
    Maybe they might just go and open up another account.:D

    ..and I don't want to get into a childish slagging match. thanks.


  • Registered Users Posts: 472 ✭✭J-Fit


    pakalasa wrote: »
    J-Fit wrote: »
    And here's one more for you. Happy?

    http://www.geekstoy.com/forum/showthread.php?t=5640&highlight=premium+charge

    Think before you post.:mad:

    I think it is you who should think before you post. Do you really believe that people clever enough to win €250k will pay 60% tax. Get real.
    Maybe they might just go and open up another account.:D

    ..and I don't want to get into a childish slagging match. thanks.

    Which is why Betfair are geographically linking accounts and any familiar betting patterns to reduce the chances of this happening. Peter Webb, one of Betfairs largest ever traders being one. Go ahead Google that too! I'm pretty confident I'm more knowledgeable than you regarding this issue.


  • Registered Users Posts: 472 ✭✭J-Fit


    And for the record, you asked me to show you where it says you pay 60% over a certain profit level, which I did. Not whether I believe people are successfully avoiding paying the charge. You certainly are a good 'un.


  • Closed Accounts Posts: 4,552 ✭✭✭pakalasa


    These traders bring in huge liquidity into betfair. ..and as pointed out time and time again, lack of liquidity is the one downside of betfair...as in sometimes, it's very hard to put on a very large bet. If they take 'value' out of the market, then all they do is converge odds to their true value. Why would Betfair want to stop this?
    Have you ever looked at odds across different markets,bookies, they are practically all the same.
    Believe me, Betfair and their clever marketing people want to give the impression that there is huge money to be made from trading alone. If you are naive enough to believe that there are guys out there paying 60% on their winnings, then fair enough.


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  • Registered Users Posts: 472 ✭✭J-Fit


    pakalasa wrote: »
    These traders bring in huge liquidity into betfair. ..and as pointed out time and time again, lack of liquidity is the one downside of betfair...as in sometimes, it's very hard to put on a very large bet. If they take 'value' out of the market, then all they do is converge odds to their true value. Why would Betfair want to stop this?
    Have you ever looked at odds across different markets,bookies, they are practically all the same.
    Believe me, Betfair and their clever marketing people want to give the impression that there is huge money to be made from trading alone. If you are naive enough to believe that there are guys out there paying 60% on their winnings, then fair enough.

    They don't want to stop it. They expect the tracksiders and large traders to swallow the charge. They are charging 60% because they can. Again, read Peter Webbs blog. He's paying it. And again, I'm far more knowledgeable than you on this subject and know several others who pay it (not me). Please stop questioning this.


  • Closed Accounts Posts: 4,552 ✭✭✭pakalasa


    Is this the same Peter Webb, who founded Bet Angel? :rolleyes:

    rotate.php
    I draw your attention to "Betfair" in the above.
    His sofware accesses Betfair. He's a Betfair inside man for God's sake.

    Are you honestly telling me you know someone who pays 60% commision, ....honestly?


  • Registered Users Posts: 472 ✭✭J-Fit


    pakalasa wrote: »
    Is this the same Peter Webb, who founded Bet Angel? :rolleyes:

    rotate.php
    I draw your attention to "Betfair" in the above.
    His sofware accesses Betfair. He's a Betfair inside man for God's sake.

    Are you honestly telling me you know someone who pays 60% commision, ....honestly?

    Yeah. Four people, two of whom defected to Betdaq. You know, I really wish you were correct but the simple fact is you aren't.


  • Registered Users Posts: 4,244 ✭✭✭Juwwi


    pakalasa wrote: »

    Are you honestly telling me you know someone who pays 60% commision, ....honestly?

    Theres plenty of people who go to the race tracks in England hoovering up all the odds close to the finish of a race.

    ATR has been up to 8 seconds behind live lately so these guys have a huge advantage.

    I'd well beleive there is plenty paying the 60%.


  • Registered Users Posts: 472 ✭✭J-Fit


    Just something in relation to what we were discussing here cropped up in the news today.
    Sandip Sayaniya, who aired his grievance outside the company's annual meeting on Thursday, claimed he was not the only customer involved in a row over "premium charges".
    Betfair initially deducted 20pc of gross profits from successful punters gambling in more than 250 betting markets. In July, such charges were raised to 40pc to 60pc for customers who have won more than £250,000.
    Mr Sayaniya alleges he has bet in less than 250 markets and made a £24,000 profit. However, he claims that on September 5 his account was suspended "under investigation of Premium Charge avoidance". On September 20 he received an email from Betfair's "pricing team" stating his account shared a similar betting strategy with four others, all of which would be taken into consideration for the charges. Betfair deducted all £52,352.85 in his account.
    Mr Sayaniya, who plans to start legal action by next Thursday if the money is not repaid, said: "I do not recognise any of the other four accounts named by Betfair, and have never operated any account other than my own."
    A Betfair spokesman said: "We thoroughly investigated this matter and we determined that the customer was evading payment of the required fees." He added that Betfair's legal department was happy to "discuss it with him further".

    http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/8782921/Betfair-removed-52000-from-customers-account.html


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  • Registered Users Posts: 1,313 ✭✭✭AstonMartin


    How can they take his entire balance when he said his profit is about half of that? Anyway they would not do this without it being crystal clear.

    what happens if a team made all the same bets on their individual accounts?


  • Registered Users Posts: 472 ✭✭J-Fit


    How can they take his entire balance when he said his profit is about half of that? Anyway they would not do this without it being crystal clear.

    what happens if a team made all the same bets on their individual accounts?

    How do you mean team? A betting syndicate?


  • Registered Users Posts: 1,313 ✭✭✭AstonMartin


    Lads who get together to discuss value bets. Some would have more knowledge of one sport than someone else and they all place the same bets as they trade knowledge and statistical analysis.


  • Registered Users Posts: 472 ✭✭J-Fit


    Lads who get together to discuss value bets. Some would have more knowledge of one sport than someone else and they all place the same bets as they trade knowledge and statistical analysis.

    Like a tipping service or even the forum on here. They may well get caught in the net. Bottom line, make and stick to your own strategies.


  • Closed Accounts Posts: 24 Ravomix


    RoverJames wrote: »
    I know a couple who trade on the exchanges for a living, I don't know any pro punters though. I don't class trading as gambling, rightly or wrongly :)

    i dont believe him either.Nobody makes a profit from gambling in the long run.The bookies have a house edge and nobody in the world can beat this edge in the long run.Its mathematically impossible.Anybody who claims to be a 'pro gambler or making a profit from gambling is a barefaced liar.Skill only slows down the rate a gambler loses money.In the fullness of time all gamblers lose their bankroll whether they want to believe it or not.


  • Closed Accounts Posts: 18,335 ✭✭✭✭UrbanSea


    Ravomix wrote: »
    i dont believe him either.Nobody makes a profit from gambling in the long run.The bookies have a house edge and nobody in the world can beat this edge in the long run.Its mathematically impossible.Anybody who claims to be a 'pro gambler or making a profit from gambling is a barefaced liar.Skill only slows down the rate a gambler loses money.In the fullness of time all gamblers lose their bankroll whether they want to believe it or not.

    Lol


  • Registered Users Posts: 14,232 ✭✭✭✭SteelyDanJalapeno


    Ravomix wrote: »
    i dont believe him either.Nobody makes a profit from gambling in the long run.The bookies have a house edge and nobody in the world can beat this edge in the long run.Its mathematically impossible.Anybody who claims to be a 'pro gambler or making a profit from gambling is a barefaced liar.Skill only slows down the rate a gambler loses money.In the fullness of time all gamblers lose their bankroll whether they want to believe it or not.

    Please explain how its "mathematically impossible"?


  • Registered Users Posts: 2,103 ✭✭✭Derek!


    It's difficult but not impossible, look at Pyro's log for example.
    He has been makin a consistent profit on the flat racin and he's had a few winners the last few days.


  • Posts: 0 ✭✭✭ Addison Wrong Bun


    LOL DAVID TAHENY IS GAY


  • Registered Users Posts: 44 Rowanvella199


    Gambling is a fools game, most people know the odds are against them... But it is so addictive! I had a serious problem with gambling!


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  • Closed Accounts Posts: 11,631 ✭✭✭✭Hank Scorpio


    Poker is a form of gambling, I can provide lifetime graphs of decent profit as can many others on this forum and others I'm sure. Therefore your point about gambling being a fools game is invalid.


  • Registered Users Posts: 15,117 ✭✭✭✭MrJoeSoap


    Ravomix wrote: »
    i dont believe him either.Nobody makes a profit from gambling in the long run.The bookies have a house edge and nobody in the world can beat this edge in the long run.Its mathematically impossible.Anybody who claims to be a 'pro gambler or making a profit from gambling is a barefaced liar.Skill only slows down the rate a gambler loses money.In the fullness of time all gamblers lose their bankroll whether they want to believe it or not.

    So misinformed it's almost hilarious. It's true that very few people do make money from it, but plenty do.


  • Closed Accounts Posts: 18,335 ✭✭✭✭UrbanSea


    LOL DAVID TAHENY IS GAY

    He is such a poof


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