Not had a single bet for 6 months (raffle tickets, Lottery tickets, scratch card, sport, anything), having more or less had a bet everyday for 23 years
Not had a single bet for 6 months (raffle tickets, Lottery tickets, scratch card, sport, anything), having more or less had a bet everyday for 23 years
I open an account with, let's say £200. After 12 months of backing 3 horses per day as 3 singles and a trixie each day, let's say I now have £ 10,000 in my betting account.
The bookmaker could close my account and keep all the money? That's outrageous if so!
Or am I missing something?
They don't keep your money, you simply can't bet with them any more.
So I could still withdraw the 10k, I just wouldn't be able to place any more bets?
Yes - but they have been known not to pay out if they feel that "foul play" has occurred.
If you have been successful over that period to that extent it would be unusual for you to keep that sort of money in your betting account because:
(1) Bookies have been known to go bust
(2) Any one bookmaker is unlikely to offer the best odds for all your bets
The other issue is what happens to unclaimed winnings or "sleepers" as they are known - these will, I believe, go back to the bookmaker after a period of time which, to my mind, is totally wrong.
If there are issues of potential fraud or money laundering or a suspicion that the funds are the proceeds of crime then bookmakers, in collaboration with the relevant authorities, will hold funds pending further investigation. That is their legal and regulatory responsibility.
That aside, if an account is closed then any money still in the account will be returned to the customer, but you are correct in that a customer should not keep large sums in their account as bookmakers have been known to go bust! It is not a requirement for bookmakers to hold client funds in separate untouchable, ring-fenced accounts to protect against this, so be sure to check to see if your bookmaker does - some do and some don't. If they do then your money is always safe.
what would you class as large amounts mate just out of interest?
I open an account with, let's say £200. After 12 months of backing 3 horses per day as 3 singles and a trixie each day, let's say I now have £ 10,000 in my betting account.
The bookmaker could close my account and keep all the money? That's outrageous if so!
Or am I missing something?
They don't keep your money, you simply can't bet with them any more.
So I could still withdraw the 10k, I just wouldn't be able to place any more bets?
Yes - but they have been known not to pay out if they feel that "foul play" has occurred.
If you have been successful over that period to that extent it would be unusual for you to keep that sort of money in your betting account because:
(1) Bookies have been known to go bust
(2) Any one bookmaker is unlikely to offer the best odds for all your bets
The other issue is what happens to unclaimed winnings or "sleepers" as they are known - these will, I believe, go back to the bookmaker after a period of time which, to my mind, is totally wrong.
If there are issues of potential fraud or money laundering or a suspicion that the funds are the proceeds of crime then bookmakers, in collaboration with the relevant authorities, will hold funds pending further investigation. That is their legal and regulatory responsibility.
That aside, if an account is closed then any money still in the account will be returned to the customer, but you are correct in that a customer should not keep large sums in their account as bookmakers have been known to go bust! It is not a requirement for bookmakers to hold client funds in separate untouchable, ring-fenced accounts to protect against this, so be sure to check to see if your bookmaker does - some do and some don't. If they do then your money is always safe.
what would you class as large amounts mate just out of interest?
No more than you need for your current day's betting - or for example you might deposit an amount on the first day of Cheltenham to cover you for the four days but that's about it. There's no benefit from keeping it in the account - unless you want to hide it!!
It's all relative - if your a £10 a race punter then £100 or so might be enough - if you're a £10,000 a race punter then you'll need more!!
I open an account with, let's say £200. After 12 months of backing 3 horses per day as 3 singles and a trixie each day, let's say I now have £ 10,000 in my betting account.
The bookmaker could close my account and keep all the money? That's outrageous if so!
Or am I missing something?
They don't keep your money, you simply can't bet with them any more.
So I could still withdraw the 10k, I just wouldn't be able to place any more bets?
Yes - but they have been known not to pay out if they feel that "foul play" has occurred.
If you have been successful over that period to that extent it would be unusual for you to keep that sort of money in your betting account because:
(1) Bookies have been known to go bust
(2) Any one bookmaker is unlikely to offer the best odds for all your bets
The other issue is what happens to unclaimed winnings or "sleepers" as they are known - these will, I believe, go back to the bookmaker after a period of time which, to my mind, is totally wrong.
If there are issues of potential fraud or money laundering or a suspicion that the funds are the proceeds of crime then bookmakers, in collaboration with the relevant authorities, will hold funds pending further investigation. That is their legal and regulatory responsibility.
That aside, if an account is closed then any money still in the account will be returned to the customer, but you are correct in that a customer should not keep large sums in their account as bookmakers have been known to go bust! It is not a requirement for bookmakers to hold client funds in separate untouchable, ring-fenced accounts to protect against this, so be sure to check to see if your bookmaker does - some do and some don't. If they do then your money is always safe.
what would you class as large amounts mate just out of interest?
Betfair has a team specifically looking at money matched at silly prices.
Let's say the only money matched on a market is £2,000 at 1.01 on something that should be say 1.30. This is either a rick or, more likely, two connected accounts working together i.e. one has offered to lay @ 1.01 and the other has then chosen to back it at that price. It could even be that the layer's card has actually been stolen so, upon settlement and assuming that the backer has won, the funds end up in a legitimate account held by the actual (or associate of the) thief.
Some Racing Post "stable tours" can be quite informative, some tell you next to nothing whilst others can be used as fish and chip paper without even opening due to their misinformation or, more likely, omissions.
Stables such as Pipe and Jonjo fall into the latter category due to their big owners calling the shots when it comes to gambles being landed.
Ruby Walsh came out and said Faugheen was 100% then 3 hours later he's out for the season, it's all games and smoke screens.
Agreed, although Ruby probably said that in hope rather than expectation.
You may well have the same source as me, Marc, on Melon - it isn't Mullins but somebody who knows the Mullins set-up better than most. The same source as Limini last year and the last time he was seen was driving a flash new Merc on the back of it!!
Melon's chances are very solid, despite what Moon Racer's idiot owner says. His winning time at Leopardstown was 6 seconds slower than Petit Mouchoir's winning time (3.7s fast) on the same day in the Irish Champion - and that was a hard fought race. Ruby never moved on Melon and for the last 2 furlongs Melon's sectional time was actually quicker by just being on the bit!
I'm still full of hope, even if Moon Racer runs - but yes I know it's the hope that kills!!
Bob's Boy out again tomorrow at Ludlow (3.40). I'll post the info from Greatrex tomorrow but I'm not overly optimistic!
Looks a tough race and nothing expected today - really just running to get his handicap mark.
Nothing wrong with that run and confirmed that the horse will get the trip in the right conditions.
Definitely - very pleased with the run, and you're right he does get the trip. £763 prize money too so paid for the trip and half a month's training fees!!
The two in front are smart performers - let's hope the handicapper is gentle on him and we can really have some fun!!
I'll admit that I'm not Andrew Tinkler's biggest fans but I liked the way that he made the horse battle for 3rd place. Ignoring the obvious prize money, had he not done so, you wouldn't have been any the wiser so far as the trip is concerned.
Equally, let's face it, gone are the days when you could get away with the handicapper not seeing all he needs to know from a tenderly handled animal. And I suspect that he might give the horse a more beneficial mark than had he tried to hide anything albeit that the winner is rated 132 plus.
I'll admit that I'm not Andrew Tinkler's biggest fans but I liked the way that he made the horse battle for 3rd place. Ignoring the obvious prize money, had he not done so, you wouldn't have been any the wiser so far as the trip is concerned.
Equally, let's face it, gone are the days when you could get away with the handicapper not seeing all he needs to know from a tenderly handled animal. And I suspect that he might give the horse a more beneficial mark than had he tried to hide anything albeit that the winner is rated 132 plus.
Yes just spoke to Warren and he's encouraged and would expect a 110 rating, which he believes would be fair.
Bob's Boy out again tomorrow at Ludlow (3.40). I'll post the info from Greatrex tomorrow but I'm not overly optimistic!
Looks a tough race and nothing expected today - really just running to get his handicap mark.
Nothing wrong with that run and confirmed that the horse will get the trip in the right conditions.
Definitely - very pleased with the run, and you're right he does get the trip. £763 prize money too so paid for the trip and half a month's training fees!!
The two in front are smart performers - let's hope the handicapper is gentle on him and we can really have some fun!!
Handicapper has given him a hurdles mark of 111 - happy with that.
He still has to get round. The likes of Cue Card and Kauto (who went off 8/11) failed to do so.
And sadly he still has to line up. Every year we have some obvious looking favourites that fail to do so but this year seems to be one of the worst.
Such are the perils of ante post betting especially as, at the front end, there can be very little advantage.
All we can hope is that the horse comes back as good as ever. And that Bob's bonus isn't too great as a result of his defection ;-)
this year is one of the worst i can remember for faves not running, i didnt touch tc for the gold cup as price was too short and was stung last year by cue card failure.
Comments
I feel so much better for it.
It's all relative - if your a £10 a race punter then £100 or so might be enough - if you're a £10,000 a race punter then you'll need more!!
Let's say the only money matched on a market is £2,000 at 1.01 on something that should be say 1.30. This is either a rick or, more likely, two connected accounts working together i.e. one has offered to lay @ 1.01 and the other has then chosen to back it at that price. It could even be that the layer's card has actually been stolen so, upon settlement and assuming that the backer has won, the funds end up in a legitimate account held by the actual (or associate of the) thief.
Anti post Melon bets looking better.
Let's dance will probably run in the Neptune.
Min won't get a run before the festival
He has clearly had a setback and is weakening slightly in the market, but he still may run of course.
Stables such as Pipe and Jonjo fall into the latter category due to their big owners calling the shots when it comes to gambles being landed.
You may well have the same source as me, Marc, on Melon - it isn't Mullins but somebody who knows the Mullins set-up better than most. The same source as Limini last year and the last time he was seen was driving a flash new Merc on the back of it!!
Melon's chances are very solid, despite what Moon Racer's idiot owner says. His winning time at Leopardstown was 6 seconds slower than Petit Mouchoir's winning time (3.7s fast) on the same day in the Irish Champion - and that was a hard fought race. Ruby never moved on Melon and for the last 2 furlongs Melon's sectional time was actually quicker by just being on the bit!
I'm still full of hope, even if Moon Racer runs - but yes I know it's the hope that kills!!
The two in front are smart performers - let's hope the handicapper is gentle on him and we can really have some fun!!
Equally, let's face it, gone are the days when you could get away with the handicapper not seeing all he needs to know from a tenderly handled animal. And I suspect that he might give the horse a more beneficial mark than had he tried to hide anything albeit that the winner is rated 132 plus.
Such are the perils of ante post betting especially as, at the front end, there can be very little advantage.
All we can hope is that the horse comes back as good as ever. And that Bob's bonus isn't too great as a result of his defection ;-)