Source Of Funds

News, chat and debate about the Betfair betting exchange.
Post Reply
User avatar
to75ne
Posts: 2413
Joined: Wed Apr 22, 2009 5:37 pm

jamesg46 wrote:
Sat Feb 06, 2021 8:59 pm
to75ne wrote:
Sat Feb 06, 2021 8:53 pm
jamesg46 wrote:
Sat Feb 06, 2021 8:48 pm
Yeah... we did it for the banks in 08, we bailed out one great big massive gamble.

Tell the people that make a living through their trading or gambling via Betfair that their plan isn't viable.
1) they bailed the banks to stop the economy collapsing, not by backing the fav on the 19:30 at kempton,

2) i am one of them, my plan is viable and i don't lend money off of anyone including tax payers.

The reason behind the bailout was the gamble.

I admire the way you did things but some aren't as fortunate. I see no problem with it, if he intends to pay the money back then who am I to judge. He's probably credited the purse with far more tax money than the loan amount so as far as I'm concerned he's just gambling his own money, after all he's just as much a tax contributer as you and I.
if your ok with the government/taxpayer bailing out gamblers your either naive, taking the piss, stupid or playing the devils advocate. i will keep an open mind on which one it is.
jamesg46
Posts: 3769
Joined: Sat Jul 30, 2016 1:05 pm

to75ne wrote:
Sat Feb 06, 2021 9:07 pm
jamesg46 wrote:
Sat Feb 06, 2021 8:59 pm
to75ne wrote:
Sat Feb 06, 2021 8:53 pm


1) they bailed the banks to stop the economy collapsing, not by backing the fav on the 19:30 at kempton,

2) i am one of them, my plan is viable and i don't lend money off of anyone including tax payers.

The reason behind the bailout was the gamble.

I admire the way you did things but some aren't as fortunate. I see no problem with it, if he intends to pay the money back then who am I to judge. He's probably credited the purse with far more tax money than the loan amount so as far as I'm concerned he's just gambling his own money, after all he's just as much a tax contributer as you and I.
if your ok with the government/taxpayer bailing out gamblers your either naive, taking the piss, stupid or playing the devils advocate. i will keep an open mind on which one it is.
I am ok with it.... It's not like It's directly affecting me & good for you for keeping an open mind, it's far more constructive than ranting at people over your personal opinion.
User avatar
jimibt
Posts: 3641
Joined: Mon Nov 30, 2015 6:42 pm
Location: Narnia

jamesg46 wrote:
Sat Feb 06, 2021 9:20 pm
to75ne wrote:
Sat Feb 06, 2021 9:07 pm
jamesg46 wrote:
Sat Feb 06, 2021 8:59 pm



The reason behind the bailout was the gamble.

I admire the way you did things but some aren't as fortunate. I see no problem with it, if he intends to pay the money back then who am I to judge. He's probably credited the purse with far more tax money than the loan amount so as far as I'm concerned he's just gambling his own money, after all he's just as much a tax contributer as you and I.
if your ok with the government/taxpayer bailing out gamblers your either naive, taking the piss, stupid or playing the devils advocate. i will keep an open mind on which one it is.
I am ok with it.... It's not like It's directly affecting me & good for you for keeping an open mind, it's far more constructive than ranting at people over your personal opinion.
and there endeth another broken thread - whilst i applaude the OP for his/her transparancy, yet again the responses show that we're just a bunch of sharlatans. Hands up who pays tax on their activities from betfair - anyone?? ... OP, well done for asking an awkward question. Forum (in general) pat yourselves on the back for taking a high moral stance, based on HMRC/PAYE contributions - next!!
jamesg46
Posts: 3769
Joined: Sat Jul 30, 2016 1:05 pm

jimibt wrote:
Sat Feb 06, 2021 9:27 pm
jamesg46 wrote:
Sat Feb 06, 2021 9:20 pm
to75ne wrote:
Sat Feb 06, 2021 9:07 pm


if your ok with the government/taxpayer bailing out gamblers your either naive, taking the piss, stupid or playing the devils advocate. i will keep an open mind on which one it is.
I am ok with it.... It's not like It's directly affecting me & good for you for keeping an open mind, it's far more constructive than ranting at people over your personal opinion.
and there endeth another broken thread - whilst i applaude the OP for his/her transparancy, yet again the responses show that we're just a bunch of sharlatans. Hands up who pays tax on their activities from betfair - anyone?? ... OP, well done for asking an awkward question. Forum (in general) pat yourselves on the back for taking a high moral stance, based on HMRC/PAYE contributions - next!!
Applause 👏 👏 👏 with my hands low down.
Trader Pat
Posts: 4327
Joined: Tue Oct 25, 2016 12:50 pm

Derek27 wrote:
Sat Feb 06, 2021 8:50 pm

One contentious thread dies down and another one starts. :)

:lol:

You can really enjoy a thread like this when you play absolutely no part in it! :)
jamesg46
Posts: 3769
Joined: Sat Jul 30, 2016 1:05 pm

Trader Pat wrote:
Sat Feb 06, 2021 9:37 pm
Derek27 wrote:
Sat Feb 06, 2021 8:50 pm

One contentious thread dies down and another one starts. :)

:lol:

You can really enjoy a thread like this when you play absolutely no part in it! :)
Welcome to the thread ;) I'm now exiting, I have no intentions for a battle of who's opinion is right or wrong... I'll just settle with some of us see things differently.
User avatar
to75ne
Posts: 2413
Joined: Wed Apr 22, 2009 5:37 pm

jimibt wrote:
Sat Feb 06, 2021 9:27 pm
jamesg46 wrote:
Sat Feb 06, 2021 9:20 pm
to75ne wrote:
Sat Feb 06, 2021 9:07 pm


if your ok with the government/taxpayer bailing out gamblers your either naive, taking the piss, stupid or playing the devils advocate. i will keep an open mind on which one it is.
I am ok with it.... It's not like It's directly affecting me & good for you for keeping an open mind, it's far more constructive than ranting at people over your personal opinion.
and there endeth another broken thread - whilst i applaude the OP for his/her transparancy, yet again the responses show that we're just a bunch of sharlatans. Hands up who pays tax on their activities from betfair - anyone?? ... OP, well done for asking an awkward question. Forum (in general) pat yourselves on the back for taking a high moral stance, based on HMRC/PAYE contributions - next!!
there is no tax liability on winning as you well know Jim and i am sure you know the arguments and reason why there is not any so whats the point of mentioning it?

as for " high moral stance", why not bail out/underwrite all the losers playing fbots in billy hills, or the sad sods doing their conkers at any given betting shop, casino, greyhound track, race track and so on with taxpayers money, why to some business owner? what's so special about him that the taxpayers of this country should underwrite him especially given the crisis that the country is in, i am sure all those other business owners who are up shit creek who cant get a loan or any reasonable useful help will be happy that the government are underwriting his bets, reckon that will go down well in the telegraph, the sun, the mail etc.
Trader Pat
Posts: 4327
Joined: Tue Oct 25, 2016 12:50 pm

jamesg46 wrote:
Sat Feb 06, 2021 9:49 pm
Welcome to the thread ;) I'm now exiting, I have no intentions for a battle of who's opinion is right or wrong... I'll just settle with some of us see things differently.
This will be about the extent of my involvement :D
jamesg46
Posts: 3769
Joined: Sat Jul 30, 2016 1:05 pm

to75ne wrote:
Sat Feb 06, 2021 9:50 pm
jimibt wrote:
Sat Feb 06, 2021 9:27 pm
jamesg46 wrote:
Sat Feb 06, 2021 9:20 pm


I am ok with it.... It's not like It's directly affecting me & good for you for keeping an open mind, it's far more constructive than ranting at people over your personal opinion.
and there endeth another broken thread - whilst i applaude the OP for his/her transparancy, yet again the responses show that we're just a bunch of sharlatans. Hands up who pays tax on their activities from betfair - anyone?? ... OP, well done for asking an awkward question. Forum (in general) pat yourselves on the back for taking a high moral stance, based on HMRC/PAYE contributions - next!!
there is no tax liability on winning as you well know Jim and i am sure you know the arguments and reason why there is not any so whats the point of mentioning it?

as for " high moral stance", why not bail out/underwrite all the losers playing fbots in billy hills, or the sad sods doing their conkers at any given betting shop, casino, greyhound track, race track and so on with taxpayers money, why to some business owner? what's so special about him that the taxpayers of this country should underwrite him especially given the crisis that the country is in, i am sure all those other business owners who are up shit creek who cant get a loan or any reasonable useful help will be happy that the government are underwriting his bets, reckon that will go down well in the telegraph, the sun, the mail etc.
It's reaching to compare somebody who had a business (which in my eyes makes that person capable of rational decision) to some crack head playing a "FOBT" machine. He said he took his position on a market he's knowledgeable in, you and I take them gambles every day. I do get your point about it being with tax payer money but he is/was the tax payer before that got taken away from him... I hope he makes it, so what if some tax money is wasted, look around, it's wasted daily.
User avatar
to75ne
Posts: 2413
Joined: Wed Apr 22, 2009 5:37 pm

because its wrong James, morally wrong.
jamesg46
Posts: 3769
Joined: Sat Jul 30, 2016 1:05 pm

to75ne wrote:
Sat Feb 06, 2021 10:30 pm
because its wrong James, morally wrong.
Morals don't exist in making money, you, I and every other person in this forum prey on people who lose money day in day out through gambling. I don't care how a person makes money... good on them for taking the initiative.
LWBF
Posts: 20
Joined: Fri Feb 05, 2021 10:10 pm

jamesg46 wrote:
Sat Feb 06, 2021 8:32 pm
MemphisFlash wrote:
Sat Feb 06, 2021 7:33 pm
let's hope they do then you will be knackered.!!!
Maybe the police will look into it as well.
Was your business really in trouble, do you even have a businees or did you
steal that money from the government and regualr tax paying people.
only scumbags do what you did!!!
Firstly without business generating tax for the purse either through income tax or VAT the government wouldn't have that money to lend out to the very same business that generated it... what a scumbag does Is expect interest back on a loan of tax payers money. Secondly, some of us see Betfair as a viable business opportunity so in a way, it's only adaptation to the structure of his normal business model. Thirdly, we should care more about the big corporate that are actually stealing from the purse, using the furlough scheme to cover holiday pay over the Christmas break (my ex employer did it and they employ thousands.) Also using the furlough scheme to pay for employees to in isolation instead of ssp... there is all sorts of wrongs going on. Somebody adapting to survive isn't worthy of a tongue lashing from you or I. He may well of put in 100s more than he will ever get out through paying his own taxes and creating jobs that also pay taxes... it wasn't his fault he was forced to close up, I for one am routing for him.
Thank-you 👍🏻 and I completely agree 👏🏻
User avatar
to75ne
Posts: 2413
Joined: Wed Apr 22, 2009 5:37 pm

jamesg46 wrote:
Sat Feb 06, 2021 11:09 pm
to75ne wrote:
Sat Feb 06, 2021 10:30 pm
because its wrong James, morally wrong.
Morals don't exist in making money, you, I and every other person in this forum prey on people who lose money day in day out through gambling. I don't care how a person makes money... good on them for taking the initiative.
your wrong James.

i don't risk anybody's money except mine. i dont take any risk and have a loan provided by taxpayers (or anybody/institution) backing me up.

i don't prey on anybody, everyone who gets involved in this game does so at their own volition, its down to them to know the rules and risks of the markets they involve themselves in. if they are savvy enough to understand what they are getting into, then they are savvy enough to realise there will be someone on the other side of their bets who are far more experienced then they are.

morals do exist in making money even in this game, and thats real sad "Morals don't exist in making money," if that's the case then cheating is ok, or theft, or extortion, and drug dealing , and insider trading, and money laundering and so on.
jamesg46
Posts: 3769
Joined: Sat Jul 30, 2016 1:05 pm

LWBF wrote:
Sat Feb 06, 2021 11:18 pm
jamesg46 wrote:
Sat Feb 06, 2021 8:32 pm
MemphisFlash wrote:
Sat Feb 06, 2021 7:33 pm
let's hope they do then you will be knackered.!!!
Maybe the police will look into it as well.
Was your business really in trouble, do you even have a businees or did you
steal that money from the government and regualr tax paying people.
only scumbags do what you did!!!
Firstly without business generating tax for the purse either through income tax or VAT the government wouldn't have that money to lend out to the very same business that generated it... what a scumbag does Is expect interest back on a loan of tax payers money. Secondly, some of us see Betfair as a viable business opportunity so in a way, it's only adaptation to the structure of his normal business model. Thirdly, we should care more about the big corporate that are actually stealing from the purse, using the furlough scheme to cover holiday pay over the Christmas break (my ex employer did it and they employ thousands.) Also using the furlough scheme to pay for employees to in isolation instead of ssp... there is all sorts of wrongs going on. Somebody adapting to survive isn't worthy of a tongue lashing from you or I. He may well of put in 100s more than he will ever get out through paying his own taxes and creating jobs that also pay taxes... it wasn't his fault he was forced to close up, I for one am routing for him.
Thank-you 👍🏻 and I completely agree 👏🏻
Some people are so righteous that they forget, you take out what you put in. I know nothing about your business or you but I sincerely hope you make it! Keep us posted & best of luck!
jamesg46
Posts: 3769
Joined: Sat Jul 30, 2016 1:05 pm

to75ne wrote:
Sat Feb 06, 2021 11:27 pm
jamesg46 wrote:
Sat Feb 06, 2021 11:09 pm
to75ne wrote:
Sat Feb 06, 2021 10:30 pm
because its wrong James, morally wrong.
Morals don't exist in making money, you, I and every other person in this forum prey on people who lose money day in day out through gambling. I don't care how a person makes money... good on them for taking the initiative.
your wrong James.

i don't risk anybody's money except mine. i dont take any risk and have a loan provided by taxpayers (or anybody/institution) backing me up.

i don't prey on anybody, everyone who gets involved in this game does so at their own volition, its down to them to know the rules and risks of the markets they involve themselves in. if they are savvy enough to understand what they are getting into, then they are savvy enough to realise there will be someone on the other side of their bets who are far more experienced then they are.

morals do exist in making money even in this game, and thats real sad "Morals don't exist in making money," if that's the case then cheating is ok, or theft, or extortion, and drug dealing , and insider trading, and money laundering and so on.
I got to "i don't risk anybodies money except mine" & "I don't take any risk" then I stopped reading.
Post Reply

Return to “Betfair exchange”