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Shock POLL Result: Why Ethics Matter to Traders…

Why Ethics Matter
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Do ethics factor into your trading plan? A recent poll brings a surprising result… 

I was surprised to hear that just 27% of traders that contributed even think about betting ethics in relation to their trading activities.

For the other 73% I think that’s a bit of a mistake. Here’s why!

Why Do You Ask?

Last week I was sat mulling through the afternoon as usual, exchanging the odd message with another long-time trader when the topic of conversation changed to betting activity and ethics…

Having been around longer than I, the other party suggested that many complain about racing’s integrity – but don’t even consider it when trading. 

POLL

As course users will already know – it’s something I pay plenty of attention to, but I wanted to put it to the masses. Hence the poll.

Lots, None & A Little

To me, the first category doesn’t need explaining much. Betting ethics are a market contributor, a variable to be considered – and so it makes common sense to some kind of opinion bouncing around in your bag of tricks. It could even be profitable to build short-term strategies around them.

Secondly – not at all. A harder answer to gauge, because there could be legitimate reasoning for disqualifying this line of thinking from your trading plan. Considering there is a mildly different option within the fourth answer, it’s probably best not to jump to conclusions. To have chosen this answer doesn’t necessarily mean an unawareness of betting ethics on the overall trading markets…

If you voted ‘Not at all’ then feel free to let us know why in the comments below. I should add; trading successfully doesn’t mean you have to include this variable. Just that it’d be wise (in my opinion).

Thirdly – a little. Similarly, this choice shows a sense of awareness to the situation, no qualms with that.

Why Would it?

This answer (and the fact that 33% of you went for it) is my main reason for writing this post.

Think about it: horse racing, it’s not the most ethical sport is it?

Possibly not the worst, I think greyhounds betting may just edge ahead there – but horse racing is about betting, there’s no two ways about it.

I can sense those whom love the sport getting upset as I type, but it’s just reality. No betting would mean no horse racing, it’s what keeps the wheels spinning on the whole industry.

So, with this being the case – think deeply.

Sad as it is, people do crazy things when it comes to money. Many of which are unethical, so why would a horse built around exchanging money be any different? More importantly, if you’re looking to trade your way to success – why not think about one of the biggest factors that could ‘warp’ a betting markets overall picture?

Sure, it may not be every race one after another but on the occasion there’s a lot of lost potential for those with their eyes shut! Worse still, a painful experience of you’re on the opposing side of things.

We’ve all read those stories in the media about monster gambles and well co-ordinated punts going down, so why not attempt to profit off the back of them? It’s just logical, surely.

Next Read: My Addiction Shared Publicly… 


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5 thoughts on “Shock POLL Result: Why Ethics Matter to Traders…

  1. There are a fair number of horses I do not trade because of ethical issues (yes, I voted that ethical issues matter lots), such as those with medical intervention to make them better runners, horses given blinkers, etc. Why? For the same reason I do not buy (to name an example) Nestle products. If a horse is made to suffer in order for its “owner” to gain, it’s a no for me, just like a product made by a company that puts profit far above anything. What most people do not realise is that by ignoring the ethical side, they are condoning the unethical actions. If I buy Nestle products, I condone the 3rd World genocide they actively engage in by giving away “free” formula milk samples to mothers who can never afford to buy formula, but miss the chance to have the baby latch on to their breasts, thus condemning their own baby to starvation, and I condone the fact that the CEO is of the opinion that water should not be free. The very same goes for horses. If a stable is only interested in profits without taking into consideration the horses’ well-being, not only will they go down, but take all the punters and traders with them. I prefer a clear conscience in everything I do, and I’ll never get why someone would ignore such factors because we all know, karma can be a bitch.

  2. I was thinking more than betting ethics than the horses welfare type ethics…

    In terms of betting. Although I can sympathise with your opinion 100%.

  3. Hi Caan, have just finished your book which was fabulous. Looking to get into cricket trading big time as I move away from matched betting (a fabulous second income was made but I don’t feel it is sustainable). Do you have any blog posts on cricket trading or know anyone or anything that I might be able to learn more about?

    Also, any chance of a blog post on your trading setup? Would be fascinating to see what types of internet connection you are using, PC etc.- Keep up the great posts, Leslie Chow.

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