Bookmakers


#1461

It’s a lot easier make money from shares. A well diversified portfolio etc. over the long term would be expected to return you money, where as gambling you’re expected to lose most of the time. It’s also a wealth tax.
One of the major reasons I’d imagine that betting is tax free is precedent from the lottery etc. which were heavily relied upon at the foundation of the state to make it more attractive. You’re taxed on your lottery winnings in the states for example.
The other thing is if you charged CGT on betting then you could offset capital gains elsewhere by losing money on betting, which would be fairly messy, and open to abuse.


#1462

Spreadbetting is a mugs game. It’s a more respectable form of gambling where lads can and do lose their bollox. It should be illegal.


#1463

yes i would agree
i lost 6375.12 euros in 2013 one evening spread betting
a curse


#1464

That CGT thing would be deadly if you were getting shares through your job. You know you’re getting a certain amount each year, You could figure out what the CGT is due and have a bunch of essentially free bets.


#1465

I always compare spread betting to this:

Are you right? No? How wrong are you!?! Oh… shit!


#1466

No it doesn’t quite work like that. You’d have 33% of your losses covered, not 100%, but that would certainly be more than enough margin for you to make money on it.


#1467

IG used to work by taking the spread between trades and then hedging out their risk to cover any profit the client makes. A few years back they did a big project on the P&L’s of their customers and realised they were by and large losing their bollox. So they don’t bother hedging anymore (bar if someone has a huge position) and just take the bets themselves like a bookie.


#1468

Any result in Kinloch v Coral yet?


#1469

#1470

I don’t think that would have won. They did finish in the top 8. And anything about where they’d play next season would have been too suspicious because their administration was well flagged, really the gamble was on liquidation but you wouldn’t get massive odds on that at the time. Relegation was probably as close as it could be played for maximum value but clearly doesn’t stand much chance of success.


#1471

In court the same week as the kinloch brae chase was ran. A sign ?


#1472

Currently embroiled in a dispute with Bet365. It’s helping to pass the day


#1473

Go on.


#1474

anything I can do to help bro?


#1475

I backed under 57.5 points in the Superbowl.

A friend backed New England to win by 1-6 points.

They have deemed both bets to be losing wagers.

It appears they are disregarding overtime for my mates bet but not mine.


#1476

Hmmm. Your mate has a better case I’d imagine. What are they saying to you?


#1477

OT only applies in certain markets, it doesn’t apply to all markets.


#1478

I’ve reached a satisfactory conclusion.

They are not admitting wrongdoing but have agreed to refund my stake as a free bet.

The free bet has already been used on Presenting Percy for the Pertemps


#1479

Will he get in though? PP refunding all antepost bets on Min and Faugheen.


#1480

I’m on NRNB but he will get in alright