From today's Daily Telegraph, and poor old Ed Wray is upset about taxes. A pity that Betfair don't feel the same way about the Premium Charge, a tax on success whatever you care to call it.
http://www.telegraph.co.uk/finance/6686216/Betfair-chairman-Ed-Wray-Too-many-hurdles-in-the-way-of-enterprise.html
About Me
- Cassini
- I have had a life-long interest in sports and after studying Pure Mathematics with Statistics at secondary school, have been fascinated by odds and probability. The first system I came up with was a simple one - back the favourite and double up after a loss until a winner. Simple enough in theory, and I told my Dad about it. Not being a betting man himself, he ran it by some of his colleagues, and came home to tell me that it wouldn’t work because a long losing run would mean that the bank would be empty. Then there was always the possibility that the winner would be returned at odds-on, meaning that the total returns would not match the outlay. Not what a ten year old wants to hear! Only slightly daunted, I then went on a search for the Holy Grail, the secret to riches that I knew was out there somewhere. Finally in 2004 I stumbled across an article about Betting Exchanges and four years later I was able to make a steady profit.
Absolutely un****ing believable! Usual bleating and whingeing from Betfair towers when they feel hard done by whilst shafting the very people that help get them where they are.
ReplyDeletelol¡¡¡
ReplyDeleteWhat a fuc*** fariseo!!
Excess at Betfair is getting confused with success.
ReplyDeleteThe only thing that's really unf**king believable is the knee-jerk reaction of numpties who haven't bothered reading the article. He's not complaining about *his* tax position. He's talking about how New Labour have taken away incentives for *other* entrepreneurs to gamble on starting up a company *now*.
ReplyDeleteIf the tax situation back in 1999 had been as unfriendly to entreprenuers as it is now there might not have been a Betfair. There'd be no Premium Tax and no commission, but there'd also be no blogs by "pro punters" or eye-watering tax-free winnings being raked in by idiots too dumb to understand the phrase "don't bite the hand that feeds".
Tom the numpty obviously doesn't pay the Premium Charge. There's more excess than you can imagine at Betfair and someone has to pay for it. Some of us were the major liquidity providers in the early days of Betfair so please don't give me that $h*t about 'biting the hand that feeds me'.
ReplyDeleteSorry to disappoint, but I've paid nearly £2,400 of the tax since it came in. I would cry about the fact that I've "only" made £71.5k instead of £74k, but unlike you I haven't got my head so far up my arse that people mistake me for DJ Sunset.
ReplyDeleteI get why the deluded used to cling to the idea that it's them doing Betfair a favour rather than the other way round "I provide liquidity" ROFL. We provide liquidity and they provide the platform and the customers to win from. I don't know what you think a fair division of the spoils is (but I'd love to see what you think a fair split is). However deluded people were last year (and I'd recommend you read the blog posts on here from last September predicting how the "liquidity providers" would punish Betfair by moving over to Sporting Options clone Betdaq to remind yourself), how can you still be deluded now?
When you take your bets off Betfair and put them up on Betdaq where does the liquidity go? It goes nowhere. It stays exactly where the real (non bot) losing customers are. However inflated your ego is that's pretty conclusive proof that you're kidding yourself if you think you're doing Betfair a favour.
If you can think of another situation where the party that's trivial to replace gets 80% of the spoils and the one that can't be replaced is happy with just 20% then let me know.
Reading you numpties moaning on and on reminds me of the bankers demanding their bonuses because they deserve them. If your "liquidity" is worth more than 10p take it somewhere else. If it isn't change the record FFS.
And just in case you're wondering it's TomH. The joy of predictive text.
ReplyDelete£2,400 is that all?! Small fish in a big pond who obviously doesn't mind bending over on a Wednesday and taking it up the **** from Betfair! DILLIGAF as what you think TOMB?
ReplyDeleteLook's like you've got my number seething assassin. You are spot on. I'm not one of the "big shots" making £100k+ tax-free out of Betfair. I imagine you have a very large penis too. Congratulations.
ReplyDeleteIt's not an issue of whether I "mind" Betfair charging me to use their site, any more than I mind Tesco charging me for my shopping. If it's a shit deal I take my business elsewhere. But here's a list of sites where you can make £2k+ every week:
1. Betfair
2. Err
3. That's it.
Hey TomH and TomB, maybe you must let betfair sodomize you. It´s the "hand that feed you", after all.
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