Paddy Power / Betfair / Flutter to introduce loss limits for young 'gamblers'

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Euler
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Location: Bet Angel HQ

Plenty of student arbers that could fall foul of this.
Trader Pat
Posts: 4327
Joined: Tue Oct 25, 2016 12:50 pm

decomez6 wrote:
Mon Sep 06, 2021 5:35 pm
Trader Pat wrote:
Mon Sep 06, 2021 4:37 pm
I'm sure there are plenty of traders on the exchange aged under 25.

This will be another blow to liquidity.
I am under the impression the ban applies to bookies but not the exchanges ?
How else could one perform a trade with £500
Stakes?
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.
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The Silk Run
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Location: United Kingdom

Euler wrote:
Mon Sep 06, 2021 5:36 pm
Plenty of student arbers that could fall foul of this.
Students 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
Posts: 651
Joined: Mon Oct 07, 2019 5:26 pm

Trader Pat wrote:
Mon Sep 06, 2021 5:54 pm
decomez6 wrote:
Mon Sep 06, 2021 5:35 pm
Trader Pat wrote:
Mon Sep 06, 2021 4:37 pm
I'm sure there are plenty of traders on the exchange aged under 25.

This will be another blow to liquidity.
I am under the impression the ban applies to bookies but not the exchanges ?
How else could one perform a trade with £500
Stakes?
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.
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 .
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 .
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decomez6
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The Silk Run wrote:
Mon Sep 06, 2021 5:56 pm
Euler wrote:
Mon Sep 06, 2021 5:36 pm
Plenty of student arbers that could fall foul of this.
Students are quite resilient, they will have a workaround !!!! As I have mentioned on another topic "it's rule breaking" not law breaking.
Stretching and bending is allowed :)
Trader Pat
Posts: 4327
Joined: Tue Oct 25, 2016 12:50 pm

decomez6 wrote:
Mon Sep 06, 2021 6:34 pm
Trader Pat wrote:
Mon Sep 06, 2021 5:54 pm
decomez6 wrote:
Mon Sep 06, 2021 5:35 pm

I am under the impression the ban applies to bookies but not the exchanges ?
How else could one perform a trade with £500
Stakes?
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.
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 .
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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goat68
Posts: 2019
Joined: Tue Jun 30, 2020 3:53 pm
Location: Hampshire, UK

In my match betting time I could easily lose >£500 to the exchange or bookie, typically in one weekend of B365 2ups !
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The Silk Run
Posts: 902
Joined: Mon May 14, 2018 12:53 am
Location: United Kingdom

goat68 wrote:
Mon Sep 06, 2021 6:49 pm
In my match betting time I could easily lose >£500 to the exchange or bookie, typically in one weekend of B365 2ups !
We know you have history G :)
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decomez6
Posts: 651
Joined: Mon Oct 07, 2019 5:26 pm

Trader Pat wrote:
Mon Sep 06, 2021 6:44 pm
decomez6 wrote:
Mon Sep 06, 2021 6:34 pm
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.
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 .
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.
Looks very similar to a self imposed economic sabotage.. in short they are Brexiting themselves :shock:
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.
Trader Pat
Posts: 4327
Joined: Tue Oct 25, 2016 12:50 pm

decomez6 wrote:
Mon Sep 06, 2021 7:28 pm
Looks very similar to a self imposed economic sabotage..
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.
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jamesedwards
Posts: 2236
Joined: Wed Nov 21, 2018 6:16 pm

Trader Pat wrote:
Mon Sep 06, 2021 8:19 pm
decomez6 wrote:
Mon Sep 06, 2021 7:28 pm
Looks very similar to a self imposed economic sabotage..
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.
This really is starting to feel like a death of 1000 cuts for the Exchange.

When is the review scheduled? Thought it was this year but seen nothing yet.
Trader Pat
Posts: 4327
Joined: Tue Oct 25, 2016 12:50 pm

jamesedwards wrote:
Mon Sep 06, 2021 8:48 pm
This really is starting to feel like a death of 1000 cuts for the Exchange.
Unfortunately I'd go along with that.
jamesedwards wrote:
Mon Sep 06, 2021 8:48 pm
When is the review scheduled? Thought it was this year but seen nothing yet.
I think it's already happened but there won't be a decision made until later this year.
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ANGELS15
Posts: 844
Joined: Wed Mar 22, 2017 9:57 am

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.
Trader Pat
Posts: 4327
Joined: Tue Oct 25, 2016 12:50 pm

ANGELS15 wrote:
Mon Sep 06, 2021 10:08 pm
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.
In this case I think Betfair are pulling the rug out from under themselves.

I might be in the minority but I think cynicism is a good quality for a trader to have :D
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napshnap
Posts: 1189
Joined: Thu Jan 12, 2017 6:21 am

Derek27 wrote:
Mon Sep 06, 2021 3:26 pm
I mistook young gamblers for underage gamblers. :lol:
?
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!
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!
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?
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