Starting My Own Bookmakers

Bollocks because he doesn't have to and you think he should, or bollocks because you suspect our answers? If the latter, I can assure you that there is no need to show any liquidity whatsoever to start up as a bookmaker.

It may also surprise you to learn - it certainly surprised me - that in order to start a spread betting organisation you only need to show liquidity of £30,000. (That was four years ago, it may or may not have changed since)
 
A guy I know stands as a bookmaker at various meetings and point to points.The game plan is never to arrive with a serious wedge and take on everybody-it is to arrive with the least possible amount and take the handy money.
 
Keep your shirts on guys.

I have just spoken to my independent Bookmaker in the UK(about 2minutes ago)

Hi advises me that,although there used to be no requiremnet to proove liquidity.It is now part of the Liscencing procedure and £30000-£50000 is the norm.
 
Luke, I agree completely, speaking as one who has been/ still is addicted to fruit machines. I have lost thousands in them and they should be banned. They are disgusting creations.
 
Without trying to sound cold hearted, i really have no problem in taking peoples money should they lose. In the same vein, i have no troubles in paying people out should they win.

I understand gambling can ruin families and the like, but isnt lager exactly the same? I think a compulsive gamber is a bad thing, but isnt an alcoholic? Both can be equally destructive yet i see no criticism of boozers.

Anyway, i'm getting off the point, i will definitely visit the Bookmaking exhibition and get some information there. I hope there are companies designed to help startups as some of you have said, i've got a lot of questions to ask!
 
I can see there being a moral difference in gambling on a game of skill where, at least theoretically, it's possible to win in the long term, and a game of chance where, long term, it's stastically impossible to come out on top.
 
This is a description of the problems created by FOBTs ("pokies" in Anzac parlance) in New Zealand. It is representative of similar findings in South Australia, Tasmania, Ontario, etc..

Part One: The Case for “No More Pokies”

8 A recent report (October 2003) ‘Problem Gambling Geography of New Zealand’ from the Public Health Intelligence Applications Laboratory, School of Earth Science, Victoria University of Wellington, examined several important issues in relation to non-casino gaming machines (pokies) in New Zealand. In particular, they examined the distribution of pokie machines across New Zealand with respect to:

• Deprivation
• Other known gambling risk factors (for example: ethnicity, income level, unemployment, educational level)

Deprivation

9 In April 2003, there were 20,138 pokie machines across New Zealand. The authors found that pokies were much more likely to be found in the more deprived areas of the country. 47% of all non-casino venues and around 53% of all pokie machines are found in areas rated as deciles 8, 9 and 10, the poorest communities in New Zealand.

10 The results clearly show that as the level of poverty increases, so too does the numbers of pokie machines. Indeed, the authors note that pokie density ranges from 21.5 machines per 10,000 people (or one machine for every 465 people) in decile 1 areas (wealthiest) to 133.7 per 10,000 people (one machine for every 75 people) in decile 9 areas (among the poorest people in New Zealand)...


Pokie addiction

12 According to the latest figures for 2003 from the Problem Gambling Foundation of New Zealand (PGFNZ), 85% of all new problem gamblers seeking treatment in New Zealand are addicted to pokie machines. For women the figure is even worse at 93% (n=632).

13 PGFNZ estimates that more than 50 cents of ever dollar going into a pokie machine comes from the pocket of a problem gambler.

14 According to PGFNZ, pokie addiction is growing at a rate of more than 30% a year.

15 In the six months from 3 July 2003 to 3 December 2003, PGFNZ in Auckland saw 647 new clients, 549 of whom were pokie addicts (85%)....
Click to expand...

Add to these statistics the corruption of the political process as governments too become addicted to the revenues from these machines.
 
PDJ-it is very honest and courageous for you to say so.
Denisco-I have no problems with bookmakers-I just don't like slot machines.How do you rate your chances of success.
 
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