CMA launches investigation into online gambling

[Euler]

About time!

https://www.gov.uk/government/news/cma- ... e-gambling

This follows concerns raised by the Gambling Commission about potential breaches of consumer law, including misleading promotions and unfair terms, being used by firms to block players’ payouts.

Nisha Arora, CMA Senior Director for Consumer Enforcement, said:

Gambling inevitably involves taking a risk, but it shouldn’t be a con. We’re worried players are losing out because gambling sites are making it too difficult for them to understand the terms on which they’re playing, and may not be giving them a fair deal. We are now investigating to see whether firms are breaking the law.

[kerberus]

And BBC R5 is taking it up too

Radio 5 Live - Wake up to money. Article on bookies. And why you should stock up on headache pills now (other aches and pains are catered for - but hurry)


http://www.bbc.co.uk/programmes/b07z3zbq#play

Something for the weekend?

Be interesting to see what find out where these "Rules" come from.............
And why they always favour the bookies...........

[andyfuller]

There has been a lot of media coverage of this today and recently. Our very own Caan featured on a BBC radio show recently about it.

[bennyboy351]

Hi all, this is slightly 'off-topic' perhaps, but is related to gambling and its various rules.

So then, two things:

1/ When a horse is withdrawn, the bookie is allowed to amend his book - but I can't get my money back; why?

2/ When there is a Jockey change, I can't get my money back - how come?

Both of the above seem like a stitch-up to me, perhaps even a 'breach' of the original 'contract' - in English law at least?....

[kerberus]

AaaH .The C stands for competition not Chilcott. Maybe there will be changes in our lifetime

And why they always favour the bookies...........

[megarain]

Hi all, this is slightly 'off-topic' perhaps, but is related to gambling and its various rules.

So then, two things:

1/ When a horse is withdrawn, the bookie is allowed to amend his book - but I can't get my money back; why?

2/ When there is a Jockey change, I can't get my money back - how come?

Both of the above seem like a stitch-up to me, perhaps even a 'breach' of the original 'contract' - in English law at least?....

I think thats a bit harsh.

In 1), the Rule 4 rules have been ammended, so they now favour the punter. Its just not practical, to refund cash bets .. on an exchange, u could reverse etc.

2) The same sort of thing. Dont think for a minute, the bookie was trying to grab u .. he largely knows stuff all, and is just following the exchange prices. If your horse shortens, as super-jock now gets on board, would u want to cancel ?

[Dallas]

Lets just hope it is throughly investigated and a clear set of guidelines are finally implemented

[LeTiss]

Hopefully, they will extend it and question the direction the industry has gone.

i.e. They fill shops with FOBT's, sucking people's rent and mortgage payments out of them, without a flicker of morality, but the moment somebody takes them for nominal amounts online with a winning bet, the accounts are shut down, or restricted to £2 stakes

If the bookmakers can be exposed for this, then it has my support

[Euler]

At the end of the day the industry is likely to choke itself with such immoral practices. Even Betfair now try and push high margin products over better value propositions which would server customers better. Try explaining that to a group of MP's

[shakespeare]

Banks are required to tell people the APR when they offer them a loan, which at least gives people some way to compare products. Maybe bookies should be required to tell people their chances of winning the bet they're about to place.

If someone about to take a typical football bet advertised on high street shop fronts - like "Man Utd to win and Rooney to score first" - were actually told their chances of winning, they might not be so tempted by the apparently high returns on offer.

[stueytrader]

What really gets me is the endless 'Bingo' type sites that are obviously going after a large enough pool (as they are managing to survive against one another's competition).

Seems while places like the BF exchange continue to drop downwards, more dumbed down forms of betting go from strength to strength!

I agree with all mentions above that bookies use completely immoral approaches and strategies - comparable to going around the streets handing out crack cocaine to young and vulnerable people. I do sometimes feel a slight unease about being 'anti-gambling', as I'm so involved in other ways. But, I guess the issue is about fairness and being upfront about what is being advertised to all customers.

[Bluesky]

If someone about to take a typical football bet advertised on high street shop fronts - like "Man Utd to win and Rooney to score first" - were actually told their chances of winning, they might not be so tempted by the apparently high returns on offer.

Not so sure about this, the average guy in the street only looks at how much he can win, he is not so bothered about his chances of actually winning. Look at the national lottery, millions of people play ever week and yet the know they have virtually no chance of winning. If you challenge them on this (gave up doing trying to explain years ago) they will just say if your not in you can't win. Trying to put up a rational argument to that with odds and probabilities doesn't get you very far.

People who use forums such as this are not like most of the population out there, this is going to sound elitist but most on here will have at least a reasonable understanding of maths, odds probabilities etc. People out there don't know this stuff, and whats more don't want to know either, and look upon people that do as nerds.

[stueytrader]

People who use forums such as this are not like most of the population out there, this is going to sound elitist but most on here will have at least a reasonable understanding of maths, odds probabilities etc. People out there don't know this stuff, and whats more don't want to know either, and look upon people that do as nerds.

Interesting to look at the Ladbroke's adverts on TV, where they have the guy who is proud to be the 'gut instinct' punter - they love those sort of punters for sure. Funny, they also have a 'stats' guy in there, but I'm guessing he probably wouldn't have an account left for long if he really was that, lol

[Bluesky]

I've just been watching one of PWs recent videos titled 'Errors of judgement' and it reminded me a little of what I was trying to say in this thread, but did a much better job of it than what I did.

If you have not yet seen the video it is well worth a look, here is the link.

https://www.youtube.com/watch?v=ggv70u-wUPs