Betfair

A tax on stupidity, Ctd

No I’m not talking about voting Green, I am talking about internet gambling.

Peter FitzSimons explains how online betting agencies filter out winners:

For some extraordinary reason, internet bookies are allowed to refuse and restrict bets from punters who are too damn smart, relying on their fine print terms and conditions. Interestingly, I am told the two bookmakers who are most ubiquitous in their advertising, Tom Waterhouse and bet365, are among the “bookmakers that continuously come up in forums for closing down punters”. But it’s not just them! The practice is so widespread, apparently, that one crowd, Pinnacle Sports, even advertises “winners are welcome”, as their point of difference, while NSW TAB and Betfair, which is a betting exchange – whatever that is – is also said to give punters more of a fair go. However, for most of the rest, those who regularly win, across as few as five to 10 bets are apparently known as “toughies” and players who have won a set amount, (usually as little as $1000), are often either refused bets or limited to small wagers of $5 to $10.

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