Horseracing sport where your allowed to be bent.

The sport of kings.
invisiblelayer
Posts: 245
Joined: Fri Sep 10, 2010 7:08 pm

Redhead wrote:
Wed Apr 07, 2021 3:32 pm
Tetras wrote:
Wed Apr 07, 2021 3:26 pm
Redhead wrote:
Wed Apr 07, 2021 3:15 pm


Yes, this encourages bad behaviour by ALL involved. Hence why I said the BHA aren't fit for purpose.
I think this is a situation of "be careful what you wish for", because if prize money is increased, it will come from gambling and the industry has been pushing for a turnover charge, which from what I understand of Aus, it's not great for the exchange, or the bookies, so less opportunity for everyone.

Exhibit A

https://www.racingpost.com/news/entain- ... ing/481826


So, these affordability checks are pushing out pro gamblers as they cannot justify their income as the books wont accept its come from gambling, they ask for other forms of income as evidence, which we cant provide so we get squeezed out. I used to provide liquidity for numerous markets that have been pulled as I was making to big a margin on them. I have had a deposit limit put on my account I found out today as I was topping up for the IPL.

THIS IS TO DRIVE US OUT OF THE GAME

So, how are these checks GOOD for racing?


Because, there are no savvy punters allowed to eat the little fish, the CORPORATIONS & their STAKEHOLDERS will be eating all the little fish instead and then tossing the crumbs to the HRB.


JUST MY OPINION GUYS.
If it drives them anywhere it will be back on course, no checks. Plenty of on course bookies will accommodate big bets. Can't see a problem for racing punters myself between using exchanges and the course.
User avatar
Euler
Posts: 24700
Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

ShaunWhite wrote:
Wed Apr 07, 2021 4:07 pm
Redhead wrote:
Wed Apr 07, 2021 3:07 pm
Put on top of all of that you have affordability checks, where the exchange wont accept your source of income is the exchange.............
Don't affordablily checks only apply when you're depositing? If your source of income is the exchange you only withdraw, I haven't deposited money for years.
Nearly all the people who have contacted me with limited accounts have been net losers and are depositing money and that seems to kick in the compliance checks.

I think half the problem with the checks at the moment is that they are being carried out as though it's a bookmaker, not an exchange.
User avatar
Euler
Posts: 24700
Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

On a broader basis it's the handicapping system that gives racing a bad name as trainers position horses in such a way that gets them a favourable rating.

But that's not radically different from a football team fielding a weaker team ahead of an important match or a Tennis player easing up before a grand slam.

But removing that incentive for a false run and things would be better.
User avatar
ShaunWhite
Posts: 9731
Joined: Sat Sep 03, 2016 3:42 am

Euler wrote:
Thu Apr 08, 2021 1:24 pm
I think half the problem with the checks at the moment is that they are being carried out as though it's a bookmaker, not an exchange.
Unless they introduce auto-hedging, there's no difference. A classical 'exchange' has no expiry and your risk is always less than your investment. But sports markets expire so your 'trade' can very quickly become worthless. I had a conversation with a fund manager a while ago and agrued that what we did wasn't so different, his reponse was that his holdings weren't likely to fall over and die. Fair point.
User avatar
Morbius
Posts: 492
Joined: Thu Feb 13, 2020 3:38 pm

Welcome to the world of low grade UK horseracing. I was privy to numerous conversations with a northern trainer a few years back. The financial pressure that these people are under is immense and the yards they run.

The fact that their line of business is one that is connected to a multi billion pound betting industry is an opportunity that few other lines of business enjoy. I mean come on... If your business is struggling and your racing for 2k at best with horses that have no stud value and will end up munching grass in some field having been bought for a couple of grand by some young lass whose always wanted to own a horse then what would YOU do???

Some years ago there was a couple of reporters posing as would be owners who were looking to place their horse with a bent stable. You can see it on YT. Rather than use it as an opportunity to expose corruption the governing bodies warned the yards. Their financial situation is perilous in many cases and there can't be a sport without horses. Field sizes and purse sizes are small so it's a case of allowing them leeway as much as possible while trying to maintain the sports integrity. Its a tough balancing act
Post Reply

Return to “Trading Horse racing”