Paddy Power / Betfair / Flutter to introduce loss limits for young 'gamblers'
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I'd imagine it will apply across the board.decomez6 wrote: ↑Mon Sep 06, 2021 5:35 pmI am under the impression the ban applies to bookies but not the exchanges ?Trader Pat wrote: ↑Mon Sep 06, 2021 4:37 pmI'm sure there are plenty of traders on the exchange aged under 25.
This will be another blow to liquidity.
How else could one perform a trade with £500
Stakes?
Will effectively mean if you're under 25 you won't be able to have a liability of >£500.
- The Silk Run
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So one can only incur a net loss of £500 a month.. meaning everytime you loose , then you get less money available for the next trade or is it to mean you can still incur losses so long as your account is showing a positive lifetime profit and they will only limit you if your losses exceeds your gains by more than £500 .Trader Pat wrote: ↑Mon Sep 06, 2021 5:54 pmI'd imagine it will apply across the board.decomez6 wrote: ↑Mon Sep 06, 2021 5:35 pmI am under the impression the ban applies to bookies but not the exchanges ?Trader Pat wrote: ↑Mon Sep 06, 2021 4:37 pmI'm sure there are plenty of traders on the exchange aged under 25.
This will be another blow to liquidity.
How else could one perform a trade with £500
Stakes?
Will effectively mean if you're under 25 you won't be able to have a liability of >£500.
The problem with flutter as a company ,it has exchanges and bookies under the same banner. This makes it hard to separate the two .
And reading from the news article you wouldn’t immediately know which component of the businesses model is affected. Not unless they choose to shed a light on it .
Stretching and bending is allowedThe Silk Run wrote: ↑Mon Sep 06, 2021 5:56 pmStudents are quite resilient, they will have a workaround !!!! As I have mentioned on another topic "it's rule breaking" not law breaking.
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decomez6 wrote: ↑Mon Sep 06, 2021 6:34 pmSo one can only incur a net loss of £500 a month.. meaning everytime you loose , then you get less money available for the next trade or is it to mean you can still incur losses so long as your account is showing a positive lifetime profit and they will only limit you if your losses exceeds your gains by more than £500 .Trader Pat wrote: ↑Mon Sep 06, 2021 5:54 pmI'd imagine it will apply across the board.
Will effectively mean if you're under 25 you won't be able to have a liability of >£500.
The problem with flutter as a company ,it has exchanges and bookies under the same banner. This makes it hard to separate the two .
And reading from the news article you wouldn’t immediately know which component of the businesses model is affected. Not unless they choose to shed a light on it .
I'm sure it will work the same way that a loss limit does, I don't think lifetime P&L will come into it.
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- The Silk Run
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Looks very similar to a self imposed economic sabotage.. in short they are Brexiting themselvesTrader Pat wrote: ↑Mon Sep 06, 2021 6:44 pmdecomez6 wrote: ↑Mon Sep 06, 2021 6:34 pmSo one can only incur a net loss of £500 a month.. meaning everytime you loose , then you get less money available for the next trade or is it to mean you can still incur losses so long as your account is showing a positive lifetime profit and they will only limit you if your losses exceeds your gains by more than £500 .Trader Pat wrote: ↑Mon Sep 06, 2021 5:54 pm
I'd imagine it will apply across the board.
Will effectively mean if you're under 25 you won't be able to have a liability of >£500.
The problem with flutter as a company ,it has exchanges and bookies under the same banner. This makes it hard to separate the two .
And reading from the news article you wouldn’t immediately know which component of the businesses model is affected. Not unless they choose to shed a light on it .
I'm sure it will work the same way that a loss limit does, I don't think lifetime P&L will come into it.
Some of the political markets E.g the billions generating US presidential elections took long to settle and one will only be allowed to stake a maximum of £500 when backing and only allowed to bet more once the bet has been settled .
Brilliant.
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Can't say I see the logic to this at all. It would be very straightforward to identify the real problem gamblers and leave everyone else alone.
The only way it makes sense is if Flutter are doing it just to be seen to be doing something re problem gambling in the run up to the review.
If they keep this policy after the review they're just doing damage to the exchange model long term.
- jamesedwards
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This really is starting to feel like a death of 1000 cuts for the Exchange.Trader Pat wrote: ↑Mon Sep 06, 2021 8:19 pmCan't say I see the logic to this at all. It would be very straightforward to identify the real problem gamblers and leave everyone else alone.
The only way it makes sense is if Flutter are doing it just to be seen to be doing something re problem gambling in the run up to the review.
If they keep this policy after the review they're just doing damage to the exchange model long term.
When is the review scheduled? Thought it was this year but seen nothing yet.
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Unfortunately I'd go along with that.jamesedwards wrote: ↑Mon Sep 06, 2021 8:48 pmThis really is starting to feel like a death of 1000 cuts for the Exchange.
I think it's already happened but there won't be a decision made until later this year.jamesedwards wrote: ↑Mon Sep 06, 2021 8:48 pmWhen is the review scheduled? Thought it was this year but seen nothing yet.
It just occurred to me, further to my earlier statement that there probably weren't that many 18 - 25 exchange users - I forgot about struggling students using match betting trying to make a few honest quid to help get themselves through uni. This will be a kick in the teeth to them.
Some people call me cynical but it always seems that whenever you try to improve yourself some fucker in authority somewhere pulls the rug from under you.
Some people call me cynical but it always seems that whenever you try to improve yourself some fucker in authority somewhere pulls the rug from under you.
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In this case I think Betfair are pulling the rug out from under themselves.ANGELS15 wrote: ↑Mon Sep 06, 2021 10:08 pmIt just occurred to me, further to my earlier statement that there probably weren't that many 18 - 25 exchange users - I forgot about struggling students using match betting trying to make a few honest quid to help get themselves through uni. This will be a kick in the teeth to them.
Some people call me cynical but it always seems that whenever you try to improve yourself some fucker in authority somewhere pulls the rug from under you.
I might be in the minority but I think cynicism is a good quality for a trader to have
Don't forget that young ones can also "gamble" their money through crappy "financial trading apps", Derek, and nobody gives a sh*t about it!Derek27 wrote: ↑Mon Sep 06, 2021 3:26 pmI mistook young gamblers for underage gamblers.
?
It really is incredible. You can legally have sex when you're 16, vote, smoke, drive and drink alcohol when you're 18, or is it 17 for driving? A young lottery winner isn't allowed to gamble more than £500 but somebody with £500 to his name is!
They rerouting "vulnerable/stupid" money flow to financial markets, it's so obvious.
Why bother with some Premier League footy match if you can "speculate" on Tesla shares or take a part in another "to the moon" gamble?