I think Ladbrokes will roll out some kind of exchange access into their shops and here is why.
This information comes from Ladbrokes own website.
• Betting is a low margin industry – from every pound,
about 85p on an over-the-counter bet and 97p on
machines is paid back to the customer
• Gaming Machines (previously known as FOBTs)
were introduced widely in 2002
• They contribute an average of 40-50% of a
betting shops profit
http://www.ladwbrokesplc.com/~/media/Fi ... t-2012.pdf
Even with my crap maths that means tht the FOBTs are contributing more to the profits than the over the counter betting activity.....So what you say!
In a test case, Newham council in east London dismissed an application for a new Paddy Power betting shop on the grounds that it would make more money from gaming machines than from traditional betting on horses and sports results.
The local authority said this meant the application did not meet the licensing conditions of 2005 Gambling Act – the first time such a power has been exercised.
http://www.guardian.co.uk/uk/2013/mar/0 ... ting-shops
Reading between the lines it would seem High Street Bookies need to have more profits coming from their sportsbooks or they may have to have a change of use for their shops. If Exchanges were available in some way in shops that may push the bookies figures in the right way somehow.
Any thoughts ?
Ladbrokes conspiracy theory???
The gambling act actually doesn't say anything about the issue. The situation is that bookies first have a general betting license and then because they have that license they can have fobts. The gambling commission gets returns from bookies and only in extreme cases has it taken any action.
I noticed that laddies were putting up their own prices on betdaq in the golf 2 balls at the weekend, but for very small amounts.
The technolgy for them to use the exchange in shops would be pretty complex, they couldn't use counter staff because of the danger of ricks and disputes over price changes, so they could only really have some sort of self service terminal with player cards. So can't see how it would be veru profitable.
I noticed that laddies were putting up their own prices on betdaq in the golf 2 balls at the weekend, but for very small amounts.
The technolgy for them to use the exchange in shops would be pretty complex, they couldn't use counter staff because of the danger of ricks and disputes over price changes, so they could only really have some sort of self service terminal with player cards. So can't see how it would be veru profitable.
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steven1976
- Posts: 1744
- Joined: Tue Jan 19, 2010 6:28 am
what do you mean by they were putting up their own prices on the golf?dav3214 wrote:The gambling act actually doesn't say anything about the issue. The situation is that bookies first have a general betting license and then because they have that license they can have fobts. The gambling commission gets returns from bookies and only in extreme cases has it taken any action.
I noticed that laddies were putting up their own prices on betdaq in the golf 2 balls at the weekend, but for very small amounts.
The technolgy for them to use the exchange in shops would be pretty complex, they couldn't use counter staff because of the danger of ricks and disputes over price changes, so they could only really have some sort of self service terminal with player cards. So can't see how it would be veru profitable.
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steven1976
- Posts: 1744
- Joined: Tue Jan 19, 2010 6:28 am
what do you mean by they were putting up their own prices on the golf?dav3214 wrote:The gambling act actually doesn't say anything about the issue. The situation is that bookies first have a general betting license and then because they have that license they can have fobts. The gambling commission gets returns from bookies and only in extreme cases has it taken any action.
I noticed that laddies were putting up their own prices on betdaq in the golf 2 balls at the weekend, but for very small amounts.
The technolgy for them to use the exchange in shops would be pretty complex, they couldn't use counter staff because of the danger of ricks and disputes over price changes, so they could only really have some sort of self service terminal with player cards. So can't see how it would be veru profitable.
yeah I said they could do that, but I don't see how it would be very profitable (and there are possible money laundering and other regulatory issues)jimrobo wrote:easy enough really! have a self service terminal you have to prepay. Put the bet on from the exchange prices.....get a confirmation matched bet ticket printed......get paid out over the counter on a successful bet.
A) Don't think that would be legal. B) it would cost too much anyway in particular when you consider that most of the market would have mobile apps.jimrobo wrote:not if they made it account only terminals rather than anonymous?? hell they could bang them anywhere! in train stations/airports/shopping places!
The only advantage I can see is that people might be allowed to open accounts (bringing in ID docs etc) in high street shops then deposit cash in accounts for mobile apps etc. Still a bit of a money laundering risk though and not quite sure about the licensing implications.
pretty sure terminals would be remote gaming equipment under the gambling act so will require the necessary licenses. Prob not a problem if the govt license changes go thru as the will have to get a license anyway, but a can of worms until then.
No thats a general betting license. I looked at the gambling commission website and lads do have a remote license but BDaq are alderney licensed so as I said can of worms.
I can't see them looking at anything in the shops at all until the remote gambling tax/licensing issue is sorted out.
I can't see them looking at anything in the shops at all until the remote gambling tax/licensing issue is sorted out.
maybe they are looking at other avenues for the exchange? for example customers that have had their accounts limited to just redirect their bets onto the exchange and not have to limit their size? There is probably a lot of extra liquidity they can naturally hedge on the exchange themselves once you;ve taken out commission problems. Especially once the exchange has started to grow.
As it stands now anything that would stimulate the economy would be given a green light. If Osbourne thought building 100 new super casinos would put more money into the treasury he would allow it. They do not care about peoples lives and misery.
Our once great nation of innovators and manufacturers have been dismantled by successive Governments, they stand by and watch communities and towns be destroyed while they do nothing to stop it. While all the time letting the City of London have free reign to do whatever they want. The City is now the biggest casino of all time, and most of the financial instituions are no better than bookies. The best bit is they do it with other peoples money.
Now't to do with Ladbrokes, but you know me, I like a rant
Our once great nation of innovators and manufacturers have been dismantled by successive Governments, they stand by and watch communities and towns be destroyed while they do nothing to stop it. While all the time letting the City of London have free reign to do whatever they want. The City is now the biggest casino of all time, and most of the financial instituions are no better than bookies. The best bit is they do it with other peoples money.
Now't to do with Ladbrokes, but you know me, I like a rant