Gambling

[bennydorano]

Well, don't leave us hanging.... bet win or lose?

[illdecide]

I would dread to think what I have gambled over the years, for years I was only a 50p Yankee and a £5 football bet on a Saturday, which progressed to betting every day. I was fortunate enough that I never got hooked and that I never gambled money I didn't have, but even now when I would do the occasional bet the same guys are on the gaming machines (which should be banned in my opinion). Only gamble with what you can afford to lose is wise advice.

I'd say that's how many people start but it gets out of control.

Those FOBT gaming machines seem to be one of the biggest problems. I would very rarely be in a bookies as on the odd occasions i do a bet its generally on the phone. But I know of at least 3 guys who have got into serious problems on those machines. I really cannot see the appeal of them but these guys would not generally have been big "traditional" gamblers as such, they would have done the odd football bet and Cheltenham  but you would hear stories of them sitting in the Bookies on these machines for hours on a Saturday. The numbers that they were rumored to be losing was scary.  I know the law has changed on these to reduce the maximum stakes etc which is a start.

Not defending the FOBTs but they are limited to £100 a spin. Ban them and what will the fellas do? They will go online where they can put on a lot more than £100 a spin. How do you stop it?

That's shocking TBH...I've never played them machines but i have watched a few do it and to think they could lose £100 every time that wheel spins is remarkable. I like a flutter (as you know Don) but i've never gambled money that i couldn't afford to lose but there are so many people you see standing in the Bookies shop wearing the same clothes talking the same sh*te to the same people and they're doing it years, they obviously gamble every penny they earn as they haven't a decent pair of shoes on their feet.
I know you say if you tell the people to stop they'll go elsewhere to do it and you're prob right, there's no real answer to it all.

[bennydorano]

Regularly footering with Skybet. Cash out is a great invention but puts you in a dilemma more times, there's absolutely no doubt in my mind that it's statistically better to cash out in 90% of bets, but the gambler in me keeps me there most of the time. Have only cashed out once were I got the sickener of the bet coming in. I'd say if you continually cash out they're bound to have some algorithm in place to deal with you.

[Insane Bolt]

Well, don't leave us hanging.... bet win or lose?

Team won ok but I had no bet

[Orchard park]

Regularly footering with Skybet. Cash out is a great invention but puts you in a dilemma more times, there's absolutely no doubt in my mind that it's statistically better to cash out in 90% of bets, but the gambler in me keeps me there most of the time. Have only cashed out once were I got the sickener of the bet coming in. I'd say if you continually cash out they're bound to have some algorithm in place to deal with you.
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yeah close you down...........bookies will not keep accounts open where they  are losing.

and you get a lovely letter back telling you that you dont fit their profile of some such platitude........

[Square Ball]

My vice is poker machines. Was really bad at them many years ago. Would get paid and blow the lot and have 4 pints. Now i go to the pub with a few quid to throw into it, thats it, when its gone its gone. Have a  flutter on the National

[Hound]

Regularly footering with Skybet. Cash out is a great invention but puts you in a dilemma more times, there's absolutely no doubt in my mind that it's statistically better to cash out in 90% of bets, but the gambler in me keeps me there most of the time. Have only cashed out once were I got the sickener of the bet coming in. I'd say if you continually cash out they're bound to have some algorithm in place to deal with you.

Not sure about that. Are the bookies offering cash-out to be competitive with each other, or because it benefits them overall? I'm inclined to think the latter. It limits their risk and the cash-out value is always below what it should be, i.e. good margin built in.

[bennydorano]

I mean (by way of an example) if you're mid bet say with a 5 team accum at evens and 4 are up & 1 drawing with 20 mins to go, if you staked £20, they'd likely be offering you £40-60 by this stage - statistically speaking I think it makes sense to take your profit and go. More often than not I let it ride and get £0

[Taylor]

I mean (by way of an example) if you're mid bet say with a 5 team accum at evens and 4 are up & 1 drawing with 20 mins to go, if you staked £20, they'd likely be offering you £40-60 by this stage - statistically speaking I think it makes sense to take your profit and go. More often than not I let it ride and get £0

The way I look at it is would I be happy with getting the cash out from my initial outlay.

In above example would I be happy getting £40 from a £20 bet - the answer would be no because if that is what I wanted to win I would have backed one even money shot.

[Don Johnson]

Regularly footering with Skybet. Cash out is a great invention but puts you in a dilemma more times, there's absolutely no doubt in my mind that it's statistically better to cash out in 90% of bets, but the gambler in me keeps me there most of the time. Have only cashed out once were I got the sickener of the bet coming in. I'd say if you continually cash out they're bound to have some algorithm in place to deal with you.

Not sure about that. Are the bookies offering cash-out to be competitive with each other, or because it benefits them overall? I'm inclined to think the latter. It limits their risk and the cash-out value is always below what it should be, i.e. good margin built in.

You are completely right. Cash out is one of the most profitable things bookies have brought in this past few years.

[Don Johnson]

I would dread to think what I have gambled over the years, for years I was only a 50p Yankee and a £5 football bet on a Saturday, which progressed to betting every day. I was fortunate enough that I never got hooked and that I never gambled money I didn't have, but even now when I would do the occasional bet the same guys are on the gaming machines (which should be banned in my opinion). Only gamble with what you can afford to lose is wise advice.

I'd say that's how many people start but it gets out of control.

Those FOBT gaming machines seem to be one of the biggest problems. I would very rarely be in a bookies as on the odd occasions i do a bet its generally on the phone. But I know of at least 3 guys who have got into serious problems on those machines. I really cannot see the appeal of them but these guys would not generally have been big "traditional" gamblers as such, they would have done the odd football bet and Cheltenham  but you would hear stories of them sitting in the Bookies on these machines for hours on a Saturday. The numbers that they were rumored to be losing was scary.  I know the law has changed on these to reduce the maximum stakes etc which is a start.

Not defending the FOBTs but they are limited to £100 a spin. Ban them and what will the fellas do? They will go online where they can put on a lot more than £100 a spin. How do you stop it?

Christ, £100 a spin!! I had no idea they could reach that level. You are probably right DJ, with online gambling being so accessible its hard to stop someone gambling if they want to. I have sat in the pub with mates on a saturday who would easily bet on 5-6 races plus a football bet. At least pre online betting you had to physically make an effort to put a bet on (even if it was just telling the barman to phone it in!)

Are bookies under any duty of care with respect to allowing people to bet if they think they have a problem?

Most bookies now have plenty of Gamcare posters etc (When the FUN stops, stop) round the place by law. Then if people want to exclude they do it themselves, they have to get a passport style photo and fill in a form and that is them for however long they wish from 6 months to life.

The online bookies are soon bringing in a thing that if you exclude from one you exclude from all who sign up to this scheme. Plenty of people just go round all the onlines at the minute, exclude from one, sign up to the next and so on.

[Avondhu star]

I mean (by way of an example) if you're mid bet say with a 5 team accum at evens and 4 are up & 1 drawing with 20 mins to go, if you staked £20, they'd likely be offering you £40-60 by this stage - statistically speaking I think it makes sense to take your profit and go. More often than not I let it ride and get £0

The way I look at it is would I be happy with getting the cash out from my initial outlay.

In above example would I be happy getting £40 from a £20 bet - the answer would be no because if that is what I wanted to win I would have backed one even money shot.

The small odds offered on football will not give the big payout that the punter wants
That's why they go for the five six team accumulator which might pay six to one etc.
However there are punters prepared to throw 500 at 4/5 to win 400. If it works out great if not too bad

[bennydorano]

Regularly footering with Skybet. Cash out is a great invention but puts you in a dilemma more times, there's absolutely no doubt in my mind that it's statistically better to cash out in 90% of bets, but the gambler in me keeps me there most of the time. Have only cashed out once were I got the sickener of the bet coming in. I'd say if you continually cash out they're bound to have some algorithm in place to deal with you.

Not sure about that. Are the bookies offering cash-out to be competitive with each other, or because it benefits them overall? I'm inclined to think the latter. It limits their risk and the cash-out value is always below what it should be, i.e. good margin built in.

You are completely right. Cash out is one of the most profitable things bookies have brought in this past few years.

I doubt the stats are available anywhere outside management in the industry but it would be really interesting to see the data. I agree they didn't bring it in for any altruistic purposes.

[Orchard park]

they will all cash you our permanently if you have a winning account or reduce your stakes to 5 cent

[Taylor]

Regularly footering with Skybet. Cash out is a great invention but puts you in a dilemma more times, there's absolutely no doubt in my mind that it's statistically better to cash out in 90% of bets, but the gambler in me keeps me there most of the time. Have only cashed out once were I got the sickener of the bet coming in. I'd say if you continually cash out they're bound to have some algorithm in place to deal with you.

Not sure about that. Are the bookies offering cash-out to be competitive with each other, or because it benefits them overall? I'm inclined to think the latter. It limits their risk and the cash-out value is always below what it should be, i.e. good margin built in.

You are completely right. Cash out is one of the most profitable things bookies have brought in this past few years.

I doubt the stats are available anywhere outside management in the industry but it would be really interesting to see the data. I agree they didn't bring it in for any altruistic purposes.

The profit margins on cash out are huge.

Simple enough to work it out is to check what the odds are on the team to win and what you would get back if you cashed out at that period.
In a fair world putting the cash out amount on the team to win should in essence return what the full bet would.

If you look at this it wont be close