The gambling industry and it's victims

[typer0612]

I was thinking the other day after seeing the TV advert (bet365 i think) where you can gamble via an APP on your phone, it seems like the industry is exploiting their customers more and more offering crap odds and showing no signs of brand loyalty with their sign up (free £50 bets).

Do many of you know any gambling addicts and what is the worst gamble you have seen in your life? (whether successful or not).

The industry in my opinion should seek to help the ones who suffer as a result of their lack of ethical consideration in my opinion or is it solely the customer's fault?

P

[TheHeretic]

There are plenty of restrictions on the gambling industry. Do you feel the same way about the lottery and all their enticing scratch cards, and lucky dips, etc, week in, week out? What about the pools? Unless you want to legislate gambling entirely, (it will merely go underground), then what do you propose?

[Hoofy]

Who is forcing you to take a bet/buy vodka/spark up/cut your arms/eat that 400th pastie/skip the important business meeting to fk a prostitute/upgrade your ipad/fire up Battlefield 3 at 2am on a work night?

There is www.gambleaware.co.uk though and gambling companies link to it on their sites.

Edited by Hoofy on Tuesday 5th March 12:32

[m_cozzy]

I have shares in william hill, doing very nicely thanks.
Keep gambling people

[typer0612]

TheHeretic said:

There are plenty of restrictions on the gambling industry. Do you feel the same way about the lottery and all their enticing scratch cards, and lucky dips, etc, week in, week out? What about the pools? Unless you want to legislate gambling entirely, (it will merely go underground), then what do you propose?

Please further explain what restrictions there are? There seems to be minimal restrictions and from what i read the law has changed recently in terms of taxation in gambling.

[Hoofy]

m_cozzy said:

I have shares in william hill, doing very nicely thanks.
Keep gambling people

I am surprised it took a dive in 2008 as the recession began. I'd have thought it would have shot up from there.

[ambuletz]

^ What Hoofy said. Nobody makes you do it, you do it out of your own choice, be responsible for your own actions. It's like idiots who blame McDonalds for making themselves fat.

[typer0612]

Hoofy said:

There is www.gambleaware.co.uk though and gambling companies link to it on their sites.

Edited by Hoofy on Tuesday 5th March 12:32

The issue here is that, the industry is making money for themselves but socially costing the UK more; That is all they seem to do unless anybody knows they actually do more than that for their customers who are 'addicted'.

[Hoofy]

typer0612 said:

the law has changed recently in terms of taxation in gambling.

Oh bugger. Link please? Tell me profits are still tax-free.

[typer0612]

Hoofy said:

Oh bugger. Link please? Tell me profits are still tax-free.

Profits for the companys have changed slightly but not for the customers, what they win is their £££ no taxation change.

http://www.independent.co.uk/news/uk/politics/reve...

[cobra kid]

GG?

[Hoofy]

typer0612 said:

The issue here is that, the industry is making money for themselves but socially costing the UK more; That is all they seem to do unless anybody knows they actually do more than that for their customers who are 'addicted'.

On Betfair, you can elect to restrict your account if you are aware you have a problem. Presumably, this facility is available on other sites.

Current deposit limits
Every time you make a deposit on the Betfair website, there will be a check to ensure that you are not depositing more than your limit for the previous day, week and/or month (depending on the time period(s) you have set). The deposit limit is not affected by any transfers of money between wallets or by withdrawals. If you increase the amount or frequency (making the limit less restrictive), it will not take effect for 7 days. Decreases take immediate effect.

Current loss limit
If you increase the amount or frequency, it will not take effect for 7 days. Decreases take immediate effect.

Self-exclusion
Self-exclusion means that your Betfair account will remain closed for a minimum period of six months and will not be reactivated under any circumstances during the exclusion period (unlike a standard account closure request).

Over my dead body.

[Hoofy]

typer0612 said:

Profits for the companys have changed slightly but not for the customers, what they win is their £££ no taxation change.

Alright. Thanks for confirming. Phew.

[TheHeretic]

typer0612 said:

Please further explain what restrictions there are? There seems to be minimal restrictions and from what i read the law has changed recently in terms of taxation in gambling.

See the gambling act 2005, as well as preceding acts.

http://www.legislation.gov.uk/ukpga/2005/19/conten...

[Hoofy]

Oh, as to one of your original questions, I know people who've gambled in the financial markets (no, I don't mean Barclays and RBS ). Some guy who signed up to T2W. He sold his business for ~£1m (took him 10 years to build up), then thought he could get clever with forex. Lost the lot in 1 year.

[RSoovy4]

It's a service. You can use it or not.

People need to take responsibility. I like a gamble sometimes, but I know the limits.

[Dr Doofenshmirtz]

typer0612 said:

I was thinking the other day after seeing the TV advert (bet365 i think) where you can gamble via an APP on your phone, it seems like the industry is exploiting their customers more and more offering crap odds and showing no signs of brand loyalty with their sign up (free £50 bets).

Do many of you know any gambling addicts and what is the worst gamble you have seen in your life? (whether successful or not).

The industry in my opinion should seek to help the ones who suffer as a result of their lack of ethical consideration in my opinion or is it solely the customer's fault?

P

Why worry?
Unless you're interested in getting into it?

[typer0612]

TheHeretic said:

See the gambling act 2005, as well as preceding acts.

http://www.legislation.gov.uk/ukpga/2005/19/conten...

Issue here is the growth of online betting, the acts don't entirely cover this.

The industry themselves are profiting from it, say, if an organisation (PaddyPower for example) was clearly ethical and actively helped gambling addicts; would others who gamble start gambling with PaddyPower rather than others as they clearly are being responsible?

[TheHeretic]

typer0612 said:

Issue here is the growth of online betting, the acts don't entirely cover this.

The industry themselves are profiting from it, say, if an organisation (PaddyPower for example) was clearly ethical and actively helped gambling addicts; would others who gamble start gambling with PaddyPower rather than others as they clearly are being responsible?

Your issue seems to be gambling, not profit. Do you want to legislate adults and what they spend their money on?

[Robb F]

There is no issue. Grown adults can make their own choices, it is not the fault of a company for offering a service that some people get addicted to.