Bookmaker Complains ‘I feel violated’

Posted on Posted in Betdaq, Betfair, Horse Racing

But how do the punters feel?…

Geoff Banks

Geoff Banks smiling as he flashes the cash

If you’ve already seen the video clips from the weekend. Wait! it gets better…

The weekend…

At the weekend I was sat at the screen as usual when I heard a couple of comments on Channel 4.

It was pretty frustrating to hear, having been watching the racing so long it’s extremely clear things are often said that can be quite misleading to the punters. Let me explain…

In recent weeks, you may have also seen a post from another trader about being ‘censored’ on a particular racing forum for talking about trading the exchanges. You can imagine our amazement when we were talking not so long ago to find each-others individual experiences had been much the same.

On top of that. I’ve had my questions rejected in the past by RUK as they were exchange-trading related, and making reference to additional charges applied to regular winners. It’s no guess that it was the reason either. I sent the same email several times before the producer responded, telling me it wouldn’t be read out.

These things, along with a few other reasons (maybe I’ll post another time) prompted me to record a bit of a rant, seen below.

I was quite surprised at the response on twitter when it’d been re-tweeted over 100 times within the first few hours. It appears a few people agreed with me…

However, a couple didn’t. One of which was the man at the top of this post, he didn’t hold back either. Calling exchange users sickening tax-dodgers and the like.

Anyway, it appears he likes to kick up regularly with a bit of googling and exclaims ‘Exchanges have taken the fun out of betting’.

On Monday evening I made a quick follow-up clip in response, seen below the original. Followed by Geoff’s reply…

The original video post…

Sunday’s rant

My response…

Monday evening’s clip

“In times of change, the learners inherit the earth, while the learned find themselves beautifully equipped to deal with a world that no longer exists”

I feel violated…

Can you believe it? Geoff feel’s violated. I wonder how all the punters he gives shocking odds feel?

I never would have singled Geoff out previously, and wouldn’t have if it hadn’t been for his strong words.

I can’t help but feel he made his own bed. Having looked about (YouTube) it appears Geoff, much like the rest of the racing industry is living in the past. Times are changing.

  • Hotel’s are losing income because of Air B and B.
  • Blockbuster sunk as Netflix exploded.
  • Taxi drivers are feeling the pinch due to rise of Uber

Much like the 3pm at Lingfield, the marketplace does as it pleases. It’s dictated by supply and demand.

Just look at Cassette Tapes, VHS players and Filing cabinets. Your phones replaced them all pretty much.

So when the average punter realises you can’t get better value than a betting exchange market – Will bookmakers join the history book along with the three above?

why bet anywhere else

Beat the bookie – 2 steps…

It’s been said for years; Beat the bookie!

In fact, it was probably a phrase introduced by a bookie…. before they fleeced you, while you tried it.

So how do you beat a bookie?

  1. Don’t bet with them. Use an exchange. If you’ve watched the videos above you’ll know why.
  2. Use them for their free-bet offers only. If you must, take the introductory bet offer they give you. The qualifying bet you place should be laid off on the exchange at odds as close as possible to create a no-lose situation, known as matched-betting. Once that’s done, pick up the free bet you’re given and move on to the next one! If you don’t quite understand what I mean, google it.

 

Other Articles: Betfair Trading – What, Why & How…

8 thoughts on “Bookmaker Complains ‘I feel violated’

  1. Hi Caan

    Just want to say that was BRILLIANT!! Congrats on speaking up about the bookies being rip offs not only by offering craps odds to punters but also by limiting and in some cases closing peoples accounts if they win on a consistent basis, yet they are more than happy to have people accounts open if they consistently lose. They operate similar to casinos which just pisses me off. Thank you for speaking up and showing the public the truth about whats really going on. All the best 🙂

  2. Absolutely Caan,

    The word needs to keep being spread that punters should keep or start using exchanges if they want to get value.

    Bit like the old days when exchanges first started – need to put the word about and bring people to where the best odds really are!

    Stu.

  3. Hi Caan,
    The beginning of the end. Bookies are an endangered species. I have a unique view on all you have said but I really didn’t want to post it here. Don’t be too harsh on them, Racing needs bookies. Let them do them and let us do us.
    Daniel

  4. Hi Cann. 100% agree with you. all the bookies closed my accounts or limited my stakes because i was constantly a winner , and it happened years ago, it is why i didn,t go back to them and just using exchange.

    Rgds.
    khosrow

  5. Just listened to the racingtraders podcast that was recorded December and they were talking about the betting industry and all things connected to that and great to see that your message about rip off bookie prices etc was aired. How wrong Mr Banks was in saying that exchange traders were parasites as he seemed to think that us traders who are in profit don’t pay tax yeah right Mr Banks 60% tax is what some of us pay. The parasites are the bookies who offer short prices, cartoon racing, FOBTS, foreign racing nobody interested in and daily number draws. Great to see you getting publicity Caan.
    Rgds
    Markstewrt.

  6. Hi Caan you are spot on i have been giving of to people who stand in bookies giving their hard earned to the bookie.
    If bookies give value ( which isnt very often )why are they effing crying about punters taking it.
    The simple solution is dont give value if you dont want people taking it.
    Keep battering them Caan

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