Bookie, Match Betting and Gambling Commission
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Just read the following on the Guardian Web Site, what do you guys think?
+0July 25, 2017 at 8:30 am
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1. He shouldn’t be going after matched bettors, he should be going after fraudulent accounts. It is his responsibility to verify customers identity – its the law. But a long registration/verification process will put off customers, so its up to him to find the balance that’s best for his business.
2. Nobody is forcing him to offer promotions. Much better incentive to join a bookie would be fair odds (instead every book is biased in their favour) and a promise not to ban winning customers.
3. I agree that fake accounts are wrong but not as wrong as the crimes of greed that bookies have been committing for years. They will knowingly let known gambling addicts spend their life savings. They will knowingly let criminals wash their money through their firms. They will freeze the accounts and steal the balances of ordinary ppl. They will ban you for just winning a few bets.
What website are they referring too? Is it Profit Accumulator? Fees of 115?
It is a bit worrying all the same that matched betting is being highlighted, maybe there are too much of us now and they will soon pull the plug on the free bets.
I really don’t get his point about free bet promotions. It is very easy to give value and incentive without giving free bets, just stick up enhanced odds on a market that you can’t lay or some concurrent multiple.
+0One problem they need to look at is gubbing people. If they actually let everyone get on with their own business and not gub us then there would be no need for people to make extra accounts up.
+0Well they might be getting a few more sign ups now… currently offering £50 gree bet a month if you bet 50 times on the app. £10 per bet, no mention of minimum odds. Ok if you can keep QLs down.
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Given that we try our utmost to lose our bookie bets (with the exception of ew arbing), they should be embracing us as customers not restricting/banning.
+0I read about this guy a few weeks ago greeting about something else… I suspect that his family business is going down the tubes and he is looking for someone to blame.
+0Very interesting. It seems that his beef is mainly with multi accounting not matched bettors. Although he would prefer not to give free bets if he could avoid it, but it’s part of being a bookmaker these days.
Something I have been thinking about lately is the business model of a bookmaker. Is it possible to be a bookmaker which is fair, which doesn’t ban and is transparent? My feeling is the very nature of the business requires delusion and immorality.
Pinnacle is the only example I can think of which sets it’s self from the rest.
I second your point 3 Fog, they’ll give it but can’t take it.
Chris, I’m not quite sure how you can try to lose at the bookmaker, you may wish but trying seems redundant.
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This guy… he chats about his disappointment in MB and making things ‘risk free’ but read the about page and ‘He maintains high profile pitches at several of the major racetracks such as Ascot, York and Cheltenham’
We all know that on course bookies offer disgustingly low odds and then lay on the exchanges to cover their liabilities and get a profit. Ignorance is bliss.
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On the plus side, his site has some good offers 😉
+0What’s he website ?
My Mam, Dad, brother, sister have been wanting to join this gambling lark.
+0My Hamster wants to open an account at this guys site.
Hes worried about the KYC though as he doesnt look 18 in his passport photo!
+01) I’d never heard of him until now. Just googled him and discovered his website and its freebet offer so have added that to my ‘to do’ list. Thanks!
2) Cry me a river! Bookies just don’t like it up ’em do they? They’ve had it their own way for years with their ridiculous overrounds and the like and now that a small number of people are taking advantage of the bookies own offers they don’t like it. He might have a point with the multi-accounting but the odds are still massively in the bookies favour.
+0Geoff Banks is quite a poisonous character unfortunately. And I’m not surprised that he is campaigning to end all matched betting.
Several years ago he totally lost it and hurled personal insults at me via email and then accused me of being a big bonus hunter without a shread of evidence.
I wouldn’t of minded if he was actually correct, but I’d only being taking part in their sign up weekly offer for 2-3 weeks. Plus I had actually used some of the free bets given to gamble on the Grand National and other big sporting events. Winning on the Grand National obviously highlighted my account, and I’m guessing the abuse and accusations were all they needed as an excuse to close my account.
As others have implied, if Geoff Banks doesn’t want the stress and hassle of taking the time and effort to actually weed out the obvious multi-account abusers and arb hunters, from the casual punter and occasional matched better, then he should stop offering the bonuses!
To be honest, I am really surprised the Profit Accumulator/Maximiser site has not already been shut down last year when MB’ing died a death.
How those type of referral sites are still operating whilst obviously condoning fraudulent multi-accounts is beyond me!
+0The ironic thing is the larger portion of ppl taking note of his article will be then registering with his site and taking value off him!
Prepaid MasterCard…. interesting extra approach he suggests too.
He won’t be taken seriously. It’s as bad a read as an angry customer, he isn’t addressing a key point just having a rant about multiple things.
As noted multi accounting seems to be want he wants to address, but goes off track.
Matched betting or not makes no odds to him, if I’m taking value off him why does he care if I take the full risk or share some value for insurance via the exchange?!As also noted if he’s that frustrated with the norm then step out of it. Sod offers, but also sod the limits… give us a pinnacle style offering that includes horses (like blacktype thought they would before joining the masses)
+0Great publicity for an otherwise unheard of bookie! Just a PR stunt IMO.
+0Chris, over time the value comes from the bookie, so the majority of people will win at the bookie and lose on the exchanges, that is why they dont want matchbetters.
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