Where our money really comes from… [is this moral]
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…surely it effectively comes from real gamblers. Sometimes they may make something out of us, but in the long run we make money [like the bookies] and punters lose money. A lot of this money must come from crime, and a lot of it must be putting poor people into debt. So isn’t matched betting actually very immoral?
+0December 29, 2015 at 6:46 pm
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Although some of the money comes from people who have a major gambling problem, I know lots of people who spend a few quid every week at the bookies shops or on line and they accept that over the long term they will loose money but they see it as a form of entertainment. Also now and again they will have a decent win that they can brag to their mates about.
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Andrew V i think youll find it was the person who said the old saying not Patrick.
+0Nice try 😉
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I’ve been thinking and I think that if we donate all our profits to a good charity, such as Oxfam, then it is condonable, in fact good and moral. That way, we would be helping to transfer money from the bookies to good causes. If we keep the money then although some of it comes from the bookies, some of it also comes from gambling addicts [i.e. on the exchange side, by laying that directly means that someone is gambling] so it is pretty immoral overall, because to be honest I think that most of us have enough money anyway.
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The majority of liquidity on the exchange comes from professionals and bookmakers themselves.
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lol if the liquidity comes from the bookies then they could be making a guaranteed loss out of us! [how funny if when we place a bet with a bookie, they go straight to Smarkets to match our bet!]. Also that shows that they scam people as they take bets and then get better odds on the exchange. Who are the “professionals”?
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Professional bettors/traders… The guys that have large bankrolls and use statistical methods and/or trading techniques to make a profit from the market.
The bookmakers use the exchanges as a means to hedge positions if they feel the need to.
+0@chris
“[…]some of it also comes from gambling addicts [i.e. on the exchange side, by laying that directly means that someone is gambling] so it is pretty immoral overall[…]”Strictly FYI, you might find an interesting counter in my article (or not). Last pointer I promise.
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No-one will read your article, Andrew. Besides, betting markets are simply a specific type of financial markets – a bet is no different to an option. The literature on the morality of financial markets and the stock market in general is large… check google.
+0Chin up, Mark. I find that the personal stuff is often more worthwhile than ‘the literature’.
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Chris. You some how think matched bettors are making money off the exchange? They are not. They are making money off the bookie promos.
We are only taking money off the bookies. Where they got it in the first place is the moral dilemma.
Andrew I read most of your article btw.
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Ive just read Andrews article as well until i got bored of it. Quite frankly i think its a load of rubbish. I didnt realise ive been such a social outcast for the most part of my adult life. Mind you i once got caught by the headmaster playing pitch and toss so i suppose i was always gonna be on this slippery slope.
+0Jeez, what a fun bunch!
+0Johnson!!!!! Couldn’t have put it better myself mate.
Andrew – get a real life and just butt out a decent forum and do us all a favour.
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