Struggling with a title for this thread so will TRY - Bookies held to ransom

easy Wrote:

---

> Flash
>
> Its the biggest downfall imho of sa racing. Its a
> social crime and ruins lives MINE included.
>
> The situation is the equivalent of a drug dealer
> giving drugs away unlimited to a junkie but
> because he has 200 junkies paying him £10 a week
> he is still coining it.
>
> Its a real shame , not 1 bookie offering credit
> does a credit check, they prey and they have zero
> moral and ethical responsibilities to the junkies,
> i know as i suffered this 1 st hand.


I have not thought of that before and the new Credit Act would make that illegal if my brief reading of that act is correct -

Theres no signed agreements mr h,if you dnt pay you get a baseball bat to yr knee caps

Soodum NO you dont, if you dont pay you get asked when can you pay, that pay even if its miniscule is suffiecient to keep things going.

Ask yourself the following

If you owe a bookie 500k are you not better off getting a bodyguard for 10k a month for 50 months?

Im referring to ppl who avoid making any sort of payment easy,you,ll be surprised how a couple
of smacks or worse a threat to tell yr wife will make a oke pay

google jack ramsden

Interesting quote by jack

a good horse can do a bad time but a bad horse can never do good time

I just love these little vignettes! If I am to believe all the bile about bookmakers being spewed in the posts above then the missing part of the story must have gone something like this :

There I was. An innocent 20 year old. Minding my own business at the local milkbar when this sleazy individual came up to me and said : Wanna have a free bet on the 2:30 race at Greyville? Because I was too innocent to resist I accepted the offer and the horse won! Before I knew it I was hooked. Later I fell in. I'm not to blame. The bookmaker made me do it.

You can substitute 'bookmaker' with any of the following : Car salesman, credit card provider, bond originator, bank manager, furniture dealer etc.,

In the modern era nobody ever takes responsibility for their ill-considered actions. That's the real problem.

Garrick

Peal me a grape, of course i take responsibility but only for the 1st weeks transactions. Once i fail to settle then surely account should be closed?

Or are yu telling me car salesman are facilitating people in purchasing motors from them and then when they miss the 1st instalment they recommend an upgrade?

If pick and pay ran like this they would be bankrupt because they have a tangible product that exchanges hands, with a bookmaker on credit terms its just a number on a screen. I recall backing a 14/1 shot to win 200k and it drifted, by then i owed 400k so it made no difss to him.......

Its not the same and the punter in this case is NOT INNOCENT BUT things would be very very very different for bookies if mugs like me never existed. Chipping in with a few quid a week.

And garrick for certain of the 2000 punters punting on tick in sa today i guarantee you 1900 were offered credit as opposed to asking. They were identified as losers and lured in

Sick

Easy - I cannot speak for bookmakers as I am sure they all have their own 'styles' insofar as conducting their businesses are concerned. But, judging from the stories that have been relayed to me over many years, a bookmaker relationship often goes something like this :

A punter, for whatever reasons, will habitually patronise a bookmaker as a cash client. After a period -and usually for convenience - an account will be opened as it offers the once-a-week settling option. A lot of bookmakers used to insist on a cash deposit and a facility would then be discussed, negotiated and agreed upon at that point. I am aware of very few instances where bookmakers openly solicited clients who were totally unknown to them and simply granted them credit. That's been my experience.

When a client 'falls in' it is not simply a case of 'laughing it off' for the bookmaker. Apart from obvious overheads such as rent, staff etc., the bookmaker also has obligations such as VAT and betting tax to deal with incurred by a punter who has also inevitably had winning bets which incur these charges alongside the losing bets. So as nice as it might appear to 'beat the punter' (another grossly misunderstood aspect of the relationship) the bookmaker can end up with a negative cashflow created by the aforementioned expenses. Believe me - they cannot simply tell the authorities to wait for their due on a Monday morning.

The example I used of credit providers is valid. The whole system is inter-related. I know of plenty of punters who draw money from their credit cards and incur charges both for the withdrawal and, thereafter, the debt at astronomical rates when they cannot repay the money. I now actually SEE people using their cards at supermarket checkouts and specifying 'Budget Account' when asked how they wish to pay.
Plenty of merchants will effectively assist you in acquiring more debt if you are able to satisfactorily complete very simple & arbitrary questionairres regarding your financial status.

For example - the current flavor of the month in the motor trade is the 72 month repayment period + residual. This in an environment where the AVERAGE car ownership term is 3 years. Have a good look at the status of that account at the 36 month mark - you will certainly have to pay in if you want out! But who cares - you are probably boss eyed by the next shiny vehicle and there are ways to ensure you end up with it!

And don't tell me you haven't had an approach in the last 12 months by some organization offering an easy loan? Or debt consolidation?

As I said earlier - you have to take RESPONSIBILTY for your actions. Because when the wheels fall off you are on your own.

Garrick

Yes valid points but the 50k bet goes in via a call never gets logged and if it does it goes in as a 50rand bet

my word.. they can take the money and upgrade to HD now instead of making the feeding the fat rebel to do nothing except gain more weight and talk shit