Half crowns? You must be one of those big hitters I keep hearing about
Affordability checks
- Thread starter Tanlic
- Start date
Half crowns? You must be one of those big hitters I keep hearing about
walsworth
Journeyman
Half crowns are the reason we still get odds of 13/8, 15/8 etc.
Janthefish
Apprentice
- Joined
- Mar 17, 2016
- Messages
- 54
Half crowns are the reason we still get odds of 13/8, 15/8 etc.
True and 11-10 was to win a guinea.
True and 11-10 was to win a guinea.
simmo
Senior Jockey
I'm not old enough to remember this but I think I'm correct in stating that a guinea was actually 252 old pence, so the maths on 11/10 wouldn't work out.
archie
Senior Jockey
Correct. One pound and one shilling so was actually the auctioneer's 5% commission.
I hear it from a good authority that due to Brexit fallout etc that the HRI are going rename the Irish early classics as the 'two thousand and one thousand one euro and five cents' stakes.
Punters are to be subject to two forms of "frictionless" financial risk checks as the government released its long-awaited gambling white paper on Thursday.
The proposals include what the government described as "background checks at moderate levels of spend" to look for issues such as County Court Judgements, set at a £125 net loss within a month or £500 within a year.
A second tier of checks which might indicate "harmful binge gambling or sustained unaffordable losses" would come in at proposed thresholds of a £1,000 net loss within 24 hours or £2,000 within 90 days. Triggers would be halved for those aged 18 to 24.
However, ministers added their intention was that the checks would be "frictionless" and conducted online by credit reference agencies or through other means such as open banking.
"Further information will only be requested from customers as a last resort where it is necessary to complete an assessment," the white paper added, "and the use of any data gathered through such checks will be restricted to assessing financial risk and indicators of financial distress".
The government claimed checks would happen "instantaneously", that around eight in ten players would not undergo the checks and that only around three per cent of the highest-spending accounts would have more detailed checks.
Gambling review white paper: the main proposals
- Frictionless player protection checks starting with background checks at a £125 net loss within a month or £500 within a year
- A review of the horserace betting levy
- A statutory levy on gambling operators to pay for research, education and treatment of problem gambling
- New stake limits for online slots games of between £2 and £15 per spin
- Extra powers for the Gambling Commission to tackle the black market
- Rules to prevent bonus offers such as free bets harming the vulnerable
- Closing loopholes to make sure under-18s cannot gamble
- A new industry ombudsman to deal with disputes and rule on redress
The subject of affordability checks has been one of the most controversial aspects of the government's gambling review, with campaigners having called for punters to have to prove they could afford gambling losses of as low as £100 a month.
British racing's leadership has warned that blanket affordability checks would be "highly damaging" to its finances, while Arena Racing Company last year estimated the sport was losing £40 million per annum from checks already put in place by bookmakers involving requests for personal financial information such as bank statements.
The government also revealed that a review of the levy, British racing's central funding system, had commenced. It had originally been set to happen by 2024.
The white paper said: "The government recognises the significant contribution that horseracing makes to British sporting culture and its particular importance to the British rural economy, and is keen to ensure that measures such as financial risk checks do not adversely affect the sector.
"We have therefore commenced the review of the horserace betting levy which we are required to undertake by 2024 and will take account of the changes set out in this document to ensure the levy delivers an appropriate level of funding for the sector."
Other proposals contained in the white paper include a statutory levy on gambling operators to help fund treatment services and research of problem gambling.
It will be collected by the Gambling Commission with spending approved by the government. The rate will be subject to further consultation.
New stake limits for online slots games of between £2 and £15 per spin will be brought in to mirror those found in bricks-and-mortar premises. The stakes had previously been unlimited.
The Gambling Commission will receive extra powers to tackle black market operators, the government said, through court orders and work with internet service providers to take down and block illegal gambling sites.
A new industry ombudsman will also be created to deal with disputes and rule on redress where a customer suffers losses due to an operator failing in their player protection duties.
The government launched its gambling review in December 2020 with a call for evidence, which resulted in 16,000 responses.
A white paper setting out the government's plans was expected to be published by Christmas 2021 but a succession of ministerial changes at the Department for Culture, Media and Sport (DCMS) resulted in publication being repeatedly postponed.
Announcing the government's proposals, culture secretary Lucy Frazer said: "We live in an age where people have a virtual mobile casino in their pockets. It has made gambling easier, quicker and often more fun, but when things go wrong it can see people lose thousands of pounds in a few swipes of the screen.
"So we are stepping in to update the law for those most at risk of harm with a new levy on gambling operators to pay for treatment and education, player protection checks and new online slots stake limits.
"This will strengthen the safety net and help deliver our long-term plan to help build stronger communities while allowing millions of people to continue to play safely."
The proposals include what the government described as "background checks at moderate levels of spend" to look for issues such as County Court Judgements, set at a £125 net loss within a month or £500 within a year.
A second tier of checks which might indicate "harmful binge gambling or sustained unaffordable losses" would come in at proposed thresholds of a £1,000 net loss within 24 hours or £2,000 within 90 days. Triggers would be halved for those aged 18 to 24.
However, ministers added their intention was that the checks would be "frictionless" and conducted online by credit reference agencies or through other means such as open banking.
"Further information will only be requested from customers as a last resort where it is necessary to complete an assessment," the white paper added, "and the use of any data gathered through such checks will be restricted to assessing financial risk and indicators of financial distress".
The government claimed checks would happen "instantaneously", that around eight in ten players would not undergo the checks and that only around three per cent of the highest-spending accounts would have more detailed checks.
Gambling review white paper: the main proposals
- Frictionless player protection checks starting with background checks at a £125 net loss within a month or £500 within a year
- A review of the horserace betting levy
- A statutory levy on gambling operators to pay for research, education and treatment of problem gambling
- New stake limits for online slots games of between £2 and £15 per spin
- Extra powers for the Gambling Commission to tackle the black market
- Rules to prevent bonus offers such as free bets harming the vulnerable
- Closing loopholes to make sure under-18s cannot gamble
- A new industry ombudsman to deal with disputes and rule on redress
The subject of affordability checks has been one of the most controversial aspects of the government's gambling review, with campaigners having called for punters to have to prove they could afford gambling losses of as low as £100 a month.
British racing's leadership has warned that blanket affordability checks would be "highly damaging" to its finances, while Arena Racing Company last year estimated the sport was losing £40 million per annum from checks already put in place by bookmakers involving requests for personal financial information such as bank statements.
The government also revealed that a review of the levy, British racing's central funding system, had commenced. It had originally been set to happen by 2024.
The white paper said: "The government recognises the significant contribution that horseracing makes to British sporting culture and its particular importance to the British rural economy, and is keen to ensure that measures such as financial risk checks do not adversely affect the sector.
"We have therefore commenced the review of the horserace betting levy which we are required to undertake by 2024 and will take account of the changes set out in this document to ensure the levy delivers an appropriate level of funding for the sector."
Other proposals contained in the white paper include a statutory levy on gambling operators to help fund treatment services and research of problem gambling.
It will be collected by the Gambling Commission with spending approved by the government. The rate will be subject to further consultation.
New stake limits for online slots games of between £2 and £15 per spin will be brought in to mirror those found in bricks-and-mortar premises. The stakes had previously been unlimited.
The Gambling Commission will receive extra powers to tackle black market operators, the government said, through court orders and work with internet service providers to take down and block illegal gambling sites.
A new industry ombudsman will also be created to deal with disputes and rule on redress where a customer suffers losses due to an operator failing in their player protection duties.
The government launched its gambling review in December 2020 with a call for evidence, which resulted in 16,000 responses.
A white paper setting out the government's plans was expected to be published by Christmas 2021 but a succession of ministerial changes at the Department for Culture, Media and Sport (DCMS) resulted in publication being repeatedly postponed.
Announcing the government's proposals, culture secretary Lucy Frazer said: "We live in an age where people have a virtual mobile casino in their pockets. It has made gambling easier, quicker and often more fun, but when things go wrong it can see people lose thousands of pounds in a few swipes of the screen.
"So we are stepping in to update the law for those most at risk of harm with a new levy on gambling operators to pay for treatment and education, player protection checks and new online slots stake limits.
"This will strengthen the safety net and help deliver our long-term plan to help build stronger communities while allowing millions of people to continue to play safely."
HopeValleyMatt
Amateur Rider
- Joined
- Jan 8, 2019
- Messages
- 38
I’ve never understood throughout this never ending saga why sports gambling and casino gambling haven’t been clearly defined as 2 separate entities. Why haven’t any of the media challenged this?
I remember way back when ‘slots’ were first a thing I’d won about 80 quid on the horses and I thought I’d play it up on the casino. I lost it all in about 10 minutes. I’ve never touched them again! How can you beat an algorithm set up for the house?
I remember way back when ‘slots’ were first a thing I’d won about 80 quid on the horses and I thought I’d play it up on the casino. I lost it all in about 10 minutes. I’ve never touched them again! How can you beat an algorithm set up for the house?
HopeValleyMatt
Amateur Rider
- Joined
- Jan 8, 2019
- Messages
- 38
Absolutely
I'm a serious antepost punter, and along with the problems of having access to accounts this will pretty much kill me off.
A clear case of punishing the sensible majority because to the reckless minority.
A good start would be to shut down the slots and casino games.
And presumably the degenerates that live in the bookmakers and spend all their wages will be fine to carry on as usual.
Just ridiculous.
A clear case of punishing the sensible majority because to the reckless minority.
A good start would be to shut down the slots and casino games.
And presumably the degenerates that live in the bookmakers and spend all their wages will be fine to carry on as usual.
Just ridiculous.
Tanlic
Banned member
After cheltenham I pulled out almost all my winning which was a bit of a nightmare.
It's seems all is ok until yu want to draw out alot of money and I don't see that changing.
If joe blogs hit a winning streak and gets into the thousands you can bet suddenly certain rules will apply and they will want to know the last time he went to the toilet if he tries to withdraw it.
I reduced my max bet from 4 figures to a max bet of 100 pounds and to date I have had one bet at that, on GDC
and I am glad to be out of it.
I loved punting heavy, did it for years but this constant want to know your business they can shove where the monkey shoved its nuts.
I assume I am not alone in this way of thinking and the racing game wiill suffer badly because of it.
It's seems all is ok until yu want to draw out alot of money and I don't see that changing.
If joe blogs hit a winning streak and gets into the thousands you can bet suddenly certain rules will apply and they will want to know the last time he went to the toilet if he tries to withdraw it.
I reduced my max bet from 4 figures to a max bet of 100 pounds and to date I have had one bet at that, on GDC
and I am glad to be out of it.I loved punting heavy, did it for years but this constant want to know your business they can shove where the monkey shoved its nuts.
I assume I am not alone in this way of thinking and the racing game wiill suffer badly because of it.
Tanlic
Banned member
double post
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Tanlic
Banned member
I had several decent bets from 7.2 to 3.4 on Brighterdaysshead which added up comes to too much or not enough if she wins. Low and behold didn't I get a message from Betfair exchange saying they needed more information from me....thay asked what do you do for a living? I replied this in Thai....they haven't asked for any further info
ฉันเป็นฝันร้ายของเจ้ามือรับแทงที่เกษียณแล้
ฉันเป็นฝันร้ายของเจ้ามือรับแทงที่เกษียณแล้
Had a warning shot myself today.
ps Paul Blomfied seems to have called it correctly,yet is labelled naive by a rag that derives most of its income from the bookies.
We punters seem to be paying membership for the RP to sell us down the river. :blink:
ps Paul Blomfied seems to have called it correctly,yet is labelled naive by a rag that derives most of its income from the bookies.
We punters seem to be paying membership for the RP to sell us down the river. :blink:
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simmo
Senior Jockey
Cause I've got my greedy grubby paws on it and don't want to give it up.
Tanlic
Banned member
I wonder how much it would cost Betfair and how long it would take for Betfair to check 5 million customers