The Betting Exchange Issue.......Again

I did transfer 30,000 pounds (winnings from a treble) from my betfair account to standard bank, a few years back when we could still use our credit cards to transfer funds from RSA to betfair.

the money is taken from your betfair account...and then you wait....
3 months...2 calls from SARS...wanting to know where I got the money.....3 calls from standard bank telling me that SARS still have my money...

then they started blocking our credit cards.
no brains...when I bring money INTO the country...they should be happy..I will spend it in the RSA economy....more VAT for them, more PAYE from the salesman, more company tax from the company that sell me products....
but then economics was never their strong point....

I am limitted to R4,000,000 on money (from R750,000) that I take out of the country.
surely I can take the money out any way I want, cash, travellers cheques, buy something on the net, pay for somethings on the net.....
think about it..the guys that came to the soccer world cup...used his credit card in the UK (at his desktop) and paid his hotel in RSA....

we have these trade agreements with the EU...how must we do business with them...
if I want to spend my R4,000,000 on holidays, investing in shares, gambling or drinking it out, it is surely my................

then we sign double tax treaty's with mauritius and UK....which says....
if I paid my tax in Mauritius (Freeport - 0 % tax and 0% vat)....I have paid my tax in mauritius...hence I dont have to pay tax again in RSA.......
same applies to UK betfair....

they should have investigated the consequences of the tax treaty's before they signed them...
too late to cry SARS....

O'h ...where did I get the R4,000,000....to take out...
I wrote a letter to SARS informing them..
That for each time I get robbed, hi-jacked or broken into, I will deduct R1,000,000 from the taxes I have to pay them..
Also wrote that they have 21 days to object to my ruling, else we will consider it as a default ruling...
well, never heard from them...


they still owe me R3,000,000 which I hope to recover this year...

so...to SARS.... be of good cheer, take courage....by the end of this financial year we could be on equal terms again....

Andre on the subject of your cabbages do you just grow them or do you puff a couple -

lol

no more...or no less than the average punter.....
SARS will get cabbages if they want more money.....
guess they would rather take the cabbages than RANDS...
cabbages=GREEN GOLD

Betfair set to list shares on Stock Exchange

BETFAIR on Tuesday announced their plan for a long-awaited £1.5 billion flotation on the London Stock Exchange.

The leading betting exchange, which was launched ten years ago by Andrew Black and Edward Wray, is currently owned by 14 major investors who hold 75 per cent of the company.

Betfair, which abandoned plans to list their shares in 2005, expect to float before the end of October and send out prospectuses within the next two weeks.


In a press release, Betfair said it intended to apply to be listed on the stock exchange and to proceed with an initial public offering of shares. The IPO is expected to comprise the sale of a minimum of ten per cent of existing shares. Betfair is not offering any new shares for sale.

The company said it had identified "multiple opportunities to secure future growth", highlighting geographical expansion and "the high-growth football market".

Betfair, which is estimated by some to be worth £1.5bn and employs more than 2,000 people, also announced their results for the financial year ending April 30, 2010, with group revenue increasing 13 per cent to £340.9 million. However, pre-tax profit fell 63 per cent from £47.5m in 2009 to £17.8m, which the company put down to increased marketing ahead of the World Cup and the start of a £25m technology investment programme.

The investment in attempting to attract new football-based punters appears to have paid immediate dividends as sports revenue increased by 24 per cent to £63.5m in the first three months of the 2010/11 financial year compared with the same period last year. Games and poker revenue grew by 26 per cent to £16.7 million and three per cent to £6.1 million respectively compared with the first three months of the 2009/10 financial year.

Commenting on the results and proposed flotation, chief executive David Yu said: ‘‘Betfair's unique and highly sophisticated exchange platform technology is at the very heart of the company's success in establishing itself as the world's largest international online sports betting provider.

"For ten years, Betfair has delivered sustained revenue growth and continued profitability, and this success, along with our debt-free balance sheet, underpins our confidence to continue investing in the many opportunities we see before us for the long-term success of the business."


Betfair's chairman Edward Wray said: ‘‘Today is an important landmark in Betfair's story, which has been characterised by extraordinary innovation, success, growth and profitability since its launch ten years ago.

"Becoming a publicly listed company will provide Betfair with the heightened profile and enhanced transparency that will help us cement our long-term relationships with customers, regulators and business partners around the world.''

Betfair will keep growing, William Hill, Coral and the likes win fold in the next 2 years. We have already seen that William Hill only makes £37.40 per shop per day. Hence their shares will tumble once Betfair list. Most shareholders in William Hill will swap for Betfair, driving William Hill shares down.
The products offered at the William Hill outlets are tipical of non operational thinking in the Leeds office.
Most punters are irretated by the Cartoon network they produce in favour of showing live horse racing. More time and effort is spend marketing Wonderball, tea time 49's, cartoon dogs, cartoon dogs over hurdles, cartoon horse racing, cartoon horseracing over jumps, cartoon speedway bikes, cartoon F1 race cars, and now cartoon bicycles. What cartoons are next? Flintstones.

From this product set it is evident why the only make £37.40 per day.
The strange part - Coral and the others model after the same stupid cartoon model.

Perhaps soon they will have cartoon punters, punting at these +2300 William Hill cartoon outlets.
Coral have allmost the same number of outlets. Same with Ladbrokes and the rest.

The RSA bookmakers are no better or worse that the William Hill'.
William Hill will without fail give you 2 points below the actual betting when it it a race outside the UK.
Betfair would offer perhaps 5 to 8 points better than any of the UK bettingshops.

As for the RSA bookmakers, most are on their last straw.
As for the bookmakers with multiple outlets (modelling after the UK betting shop model), the time will come during 2011.

Like most companies before them , they went on -
1. Expansion drive
2. Right sizing of the group - current mode
3. Next DOWNSIZING of the group
4. Then CAPSIZING of the group

Perhaps a few bucket shops will survive, once the Gambling board legalize a BETFAIR (maybe INTERBET) in RSA