[minet123]

Don't mess with the Vegemite Syndicate

http://www.smh.com.au/business/retai...#ixzz3ANbdglzt

[Optional]

The Australian outlet of Bet365, which began taking bets in 2012, reported a $40.8 million loss in its 2014 financial year.

I think this really goes to show how a bloated UK system bookmaker that has been able to skim losing players and limit winners to build their business stands up in a more proper regulatory environment where they are somewhat expected to profit from bookmaking rather than targeting losers.

Let's hope the old Australian ethos about a bookmaker being required to gamble with anyone to hold a license holds up a bit longer.

[RonPaul2008]

I think this really goes to show how a bloated UK system bookmaker that has been able to skim losing players and limit winners to build their business stands up in a more proper regulatory environment where they are somewhat expected to profit from bookmaking rather than targeting losers.

Let's hope the old Australian ethos about a bookmaker being required to gamble with anyone to hold a license holds up a bit longer.

Tons of books heavily limit, delay, or outright ban players who get good lines at their book instead of improving their bookmaking skills. One U.S. facing book that aggressively does this is rated A+ here.

[Optional]

Tons of books heavily limit, delay, or outright ban players who get good lines at their book instead of improving their bookmaking skills. One U.S. facing book that aggressively does this is rated A+ here.

Agree. It happens everywhere in the world and bettors seem to act like it is normal and is ok.

I grew up believing a bookmaking license was a privilege that came with loads of restrictions to ensure everyone was treated "fairly".

It's changed massively in Australia recently. But hopefully this is a sign that govt (who is addicted to gambling tax income here) is seeing that it won't be smart to throw the punters to the wolves totally.

Bookmaking is not a normal business. It shouldn't be a license to only take profitable bets or bettors. As that is a license to fleece people for guaranteed profit. They should have to gamble too to keep the business model fair!

Plenty of bookmakers have gone broke in Australia, as it should be in any business sector. These UK books act like have a right to a profitable business guaranteed by law. What other business sector in this world thinks like that??

[Spacefrog]

Bookmaking is not a normal business. It shouldn't be a license to only take profitable bets or bettors. As that is a license to fleece people for guaranteed profit.

Very well said. I couldn´t agree more with you, Optional.

[Hareeba!]

Wonderful to see the ranks of my disciples swelling

[JayZ]

Bet365 has already lost several cases in the UK brought to the Advertising Standards Authority relating to its bonus offers and associated advertsing.

http://www.asa.org.uk/Rulings/Adjudi...x#.U-3umeNdWSo
http://www.asa.org.uk/Rulings/Adjudi...x#.U-3u1eNdWSo
http://www.asa.org.uk/Rulings/Adjudi...x#.U-3t8-NdWSo
http://www.asa.org.uk/Rulings/Adjudi...x#.U-3uAONdWSo
http://www.asa.org.uk/Rulings/Adjudi...x#.U-3uAeNdWSo

[shaunovery]

Recently the forum seems to be a crusade to put punters off bet365

Of course it's the punters choice who to bet with ,

I've never been limited there and looking at my history I'm well ahead so I'm not a losing player

Even recently there stilling sending me mails about 25% free credit on my next deposit in time for the new soccer season

[jjgold]

Its hit or miss with bet365 and getting banned
so many guys win and still play there

Its about staying under the radar in many cases

[shaunovery]

Its hit or miss with bet365 and getting banned
so many guys win and still play there

Its about staying under the radar in many cases

Exactly coach keep under the limits you don't get noticed , plenty of books to play with for bigger limits

[T4TRUTH]

well no it is of course a license to operate and how they choose to operate is their business right, bigger profits more taxes take a chance and get buried so either way says tough for the book maker. limiting winners and skimming losers, well is not really book making is it. book making is to squeak out a profit by catering to both the losers and winners equally. so the old fashioned book making yes is gone but fundamentals of the game have never changed, so many just do not understand those basics.

[lecubs28]

I think this really goes to show how a bloated UK system bookmaker that has been able to skim losing players and limit winners to build their business stands up in a more proper regulatory environment where they are somewhat expected to profit from bookmaking rather than targeting losers.

Let's hope the old Australian ethos about a bookmaker being required to gamble with anyone to hold a license holds up a bit longer.

does bet365 australia have some kind of regulation on how quickly they can limit winners or something? i can't think of any reason why they would operate any differently than the european division

[Optional]

does bet365 australia have some kind of regulation on how quickly they can limit winners or something? i can't think of any reason why they would operate any differently than the european division

Only for horse racing I think lecubs. They have to lay anyone to lose $1000 on local events.

The NT regulator seems to allow them to limit as they wish for sports but I don't think they are game to try and be as ruthless as they are with UK and the rest of world. As too many people like me get all indignant about it still.

The only reason it is different is because historically Australia has had proper bookmaker regulation actually designed to protect players instead of only caring about bookmaker viability. So the people expect it and push back.

Thankfully there remains enough general interest that stories about books limiting players or voiding winners for stuff like bad lines still make the mainstream newspapers.

[Dr.Gonzo]

I think this really goes to show how a bloated UK system bookmaker that has been able to skim losing players and limit winners to build their business stands up in a more proper regulatory environment where they are somewhat expected to profit from bookmaking rather than targeting losers.

Let's hope the old Australian ethos about a bookmaker being required to gamble with anyone to hold a license holds up a bit longer.

The loss is the product of an advertising blitz to get their brand name out there and gain market share, how much did William Hill pay for Centrebet and Sportingbet?

[Optional]

The loss is the product of an advertising blitz to get their brand name out there and gain market share, how much did William Hill pay for Centrebet and Sportingbet?

Probably a part of it.

Betfair lost about 25 million last financial year too though.

I think it is genuinely tougher for books to make money here due to both the regulation and public interest/sentiment about what bookmaking should be.

[eddie701]

Coral limited me to €1.50 horse racing because my horses were winning. At the same time I was losing on the Tennis and they have not limited me on tennis.
Talking about cherry picking accounts.
Engineering an individual account were it can only lose money.

[Dr.Gonzo]

Probably a part of it.

Betfair lost about 25 million last financial year too though.

I think it is genuinely tougher for books to make money here due to both the regulation and public interest/sentiment about what bookmaking should be.

There hasn't been the liquidity on Australian racing that they would have liked.

I don't, the books who take a bet market themselves on that fact whilst the others ban liberally. No one can point to taking bets as a loss leader in my opinion. The minimum obligations on NSW racing doesn't start to September so I don't accept that as a factor up until now.

If regulation has hurt them it's the TAB monopoly on betting shops and the live wagering ban.