Bookmaking has always been a dodgy business. The aim of the bookmaker is to basically derive an income from other peoples money on other peoples effort.
They are basically parasites that suck energy from alien bodies and give nothing back to society. They are usually bankers or accountants, but, sometimes they can be gamblers and risk their own money by taking a position and make a killing.
The gambling bookies do this by offering great odds on what they believe to be a loser. So, if the industry are offering 4/1 they may offer 6/1 knowing that any sensible gambler will take the 6/1 as it will increase any winnings by 50%. However, the gambling bookie may have some inside information that the 6/1 shot is no good or that there is a better outcome which will win, hence the better odds on what they see as the loser. This is a risky strategy unless you have great information and bookies usually do.
The banker/accountant types may have great information but they tend to be risk adverse hence they are usually very cozy with governments and regulators so they can make the rules up to suit themselves. They are also very greedy and once they make the rules up they rush to make sure they get every penny they can get.
Since the online betting industry exploded, bookies have had it easy. They can be located anywhere, make up their own rules, track their customers to within a inch of their existence getting rid of those who look like winners.
This golden era for bookies mean that any banker/accountant wanting to make easy money have a relatively easy entry point. But needing to minimize risk they tend to want easy low hanging gambling fruit, and, hence they tend to relentlessly push casino games and fruit machine type games as they can be easily monitored and is basically a lotto, where the house percentage has already been locked in.
So the question for the banking/accountant type bookies is how much does it cost to get these type of punters? The answer is very easy. All you have to do is see how much they are giving away to new sign ups and there you have it.
But some of these parasites have bigger aims. They develop strategies in which they manipulate terms and conditions where the punters are left in ‘lose/lose’ positions.
These crooks will manipulate links, rules, prices and winnings to insure the minimum payout possible. Some like Ladbrokes will turn this into a ‘revenue stream’. They will constantly pump out ‘promotions’ to rob customers and boost their balance sheet especially now they want to join forces with Corals another vampire type book maker.
This wild west customer relation attitude has finally forced the regulatory bodies such as the Gambling Commission to do something after numerous complaints. The odds of these regulatory bodies doing anything is very long as the bookmakers will bring out the argument of job losses. Effectively they will say as Lloyd Blankfein – Goldman Sachs Chief Executive said in 2009, that they are “doing god’s work”.
So in the meantime while yours truly and others campaign to stop people getting ripped off and the government look at ways to not upset ‘Gods little angels’, be very careful and leave Ladcrooks alone.