Thanks Robert, I have never heard of the NZ TAB closing winning accounts. I don't think they would be able to withstand the publicity if they did. They have no reason to anyway as even winning accounts adds to their profit as they cream a % amount from turnover regardless. Perhaps any independant bookie starting up in NZ (if they were allowed) should have as their slogan 'You know the odds, but by crikey don't beat them'. Peter.
Fords wrote: > > Peter, > > It has little to do with setting odds. > For racing, the course sets the market not the off-course bookies. > However, they still try to feed in small amounts to cancel any large > shop liabilities. > In the good old days when Bookmakers were gamblers and there were no > computerised records of every activity then you could hold long term > winning accounts. Nowadays, it is run by accountants, every shop and > office has to make a weekly profit or else. > What modern business gives cash to its customers, is the accountant's > mindset. Anyone who appears like they may know what they are doing is > quickly dealt with, as damage limitation. In UK, bookie shop punters > are just as happy betting on cartoon video racing and pokies so it is > now actively encouraged to be "just a bit of fun". Even the UK Tote > close winning credit accounts, so the only meaningful salvation is the > exchanges. > > Robert > > ----- Original Message ----- > From: Peter Harrop > To: [email protected] > Sent: Wednesday, December 22, 2004 2:07 AM > Subject: Re: [racebase] Bookies eh! Who would have them. > > Fair enough Robert. > But I wonder if there is any point in me hoping that > bookmakers are > allowed to operate in this country if I am to be eventually > banned if I > win. My whole intention to being a punter is to win and I > would only > ever use a bookmaker if I thought I could long-term. > Are bookmakers therefore telling us that they aren't > actually very good > at setting markets ? The maths are already on their side in > that > long-term they should win if they set the market correctly. > Peter. > > Fords wrote: > > > > Peter, > > > > You could say it also unethical for bookmakers to take > bets from > > losing punters. > > Bookmakers are mostly very honourable business men and go > to great > > lengths to ensure that payment is made out on any winning > bets with > > them. It is unethical (as on-course Australia) to force > them to take > > bets they do not wish to take. > > > > If the bookmaker accepts the punters' offer of a bet then > that is > > different from refusing to accept their custom at all. The > former is > > contractual (but even so, a bet is not legally enforceable > to be paid > > out in UK, at present). The latter is just commercial > judgement - they > > are not charities. There is no contract made for the > latter - in fact, > > the opposite applies. I wonder what the whingers would say > if the shoe > > was on the other foot, and the bookmaker claimed that he > should be > > able to force the punter to back what the bookmaker > decided and at > > what price and what amount. Bookmakers read these forums > and I am sure > > that certain names are now blackballed throughout the > industry. Some > > of these Aussies do not live in the real world. > > > > Robert > > > > ----- Original Message ----- > > From: Peter Harrop > > To: [email protected] > > Sent: Wednesday, December 22, 2004 5:27 AM > > Subject: Re: [racebase] Bookies eh! Who would have > them. > > > > Fords wrote: > > > > > > Peter, > > > > > > What's new? > > > This is a long-standing standard practice in UK. > > > Thou shalt not win! > > > In a free market, you decide what you want to bet - > they > > decide > > > whether to accept or not. > > > > Don't get me wrong, I would love to see bookies here > in NZ. > > The more > > competition the better, and it would offer better > choices, > > at least for > > those that are losers. It just seems to me completely > > unethical that > > someone who was winning is banned. It is akin to an > > insurance company > > refusing your custom because you have had a run of > bad luck > > and you've > > been making too many claims. Hang on .... they do ban > those > > people don't > > they ! > > I vaguely remember doing a uni paper on commercial > law and > > from this > > vague memory I have an even vaguer one about a law of > offer > > and > > acceptance. Somebody offers their goods for sale at a > > certain price. > > This is the offer. Someone picks up the said goods > and takes > > them to the > > counter. This is the acceptance. At this point the > contract > > is made. The > > seller can't then say ... 'Oh that price tag is > wrong, it is > > $1.20 not > > $1'. The seller also can't say .... 'I don't like the > look > > of you, I > > won't sell it to you'. I can't see why there should > be any > > difference > > for the bookies. I guess it must be legal to refuse a > bet > > because they > > do it and no one has successfully sued them as far as > I am > > aware. > > Peter. > > > > Yahoo! Groups Sponsor > > ADVERTISEMENT > > [click here] > > > > > > > --------------------------------------------------------------- > > Yahoo! Groups Links > > > > * To visit your group on the web, go to: > > http://groups.yahoo.com/group/racebase/ > > > > * To unsubscribe from this group, send an email > to: > > [EMAIL PROTECTED] > > > > * Your use of Yahoo! Groups is subject to the > Yahoo! > > Terms of Service. > > Yahoo! Groups Sponsor > [Image] > > Get unlimited calls to > > U.S./Canada > > [Image] > > > --------------------------------------------------------------- > Yahoo! Groups Links > > * To visit your group on the web, go to: > http://groups.yahoo.com/group/racebase/ > > * To unsubscribe from this group, send an email to: > [EMAIL PROTECTED] > > * Your use of Yahoo! Groups is subject to the Yahoo! > Terms of Service. ------------------------ Yahoo! Groups Sponsor --------------------~--> Make a clean sweep of pop-up ads. Yahoo! Companion Toolbar. Now with Pop-Up Blocker. Get it for free! http://us.click.yahoo.com/L5YrjA/eSIIAA/yQLSAA/9cOolB/TM --------------------------------------------------------------------~-> Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/racebase/ <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
