Question re: pick 6

Good morning and well done to the Bulls.

Was listening to Clyde yesterday calling for bookies that were holding tickets on the pick 6 to put them on the tote as they might be caught with a massive payout.

So my question is: lets say "officially" pick 6 not won/carry over/no winning ticket/no dividened.

and a punter has taken a bet with his bookie, and he has the correct numbers. Does the bookie pay out the value of the net pool to the punter?
Or does he say "sorry no winning tickets on pick 6"

Just a thought?

Morning Dave,

An interesting scenario and I believe that the bookie would pay on the basis of the nett pool but bear in mind that in their terms and conditions they generally have a maximum daily win of around 200k so in the case of a massive Pick 6 payout the punter would probably wish they had taken with the tote unless they only caught a really small percentage.

GAUTENG ONLY....??????

He pays the value of the nett pool to save face with the rest of the punters.

However, all if not most tickets now say R100,000 limit.
GOBA only guarantees R200,000.
Hollywood tickets says R500,000.

GOBA (Gauteng Off Course Bookmakers Assosiation), and all +104 Gauteng bookmakers have to belong to GOBA, else they have to furnish additional guarantees with the Gambling board to the value of R500,000.
current GOBA members have about R80,000 each with GOBA and R150,000 with the Gambling Board.
so, if a Bookmaker does not want to belong to GOBA, the bookmaker can give a R500,000 guarantee at the Gambling board.
Originally the intentions was for R500,000 cash guarantee at the Gambling board, however some clever Bookmakers convinced the GAMBLING BOARD that their licenses were valued at that, and hence ceded the license as surity instead of paying over the R500,000 cash guarantee.
When some of these guys went under, the GAMBLING BOARD realised that the most they could get at the time was R60,000 for the license.

It was too late to demand R500,000 from each of the +104 bookmakers, as few or none could come up with this money.
And the free lunches and gifts could no longer be returned.
The funny part, Phumelela backed the bookmakers idea.

Hence GOBA was formed, and each bookmaker started contributing R200 per week towards the GOBA fund.
A Fund which now stands at about R8m.
The interest on this R8m is used for administrative purposes and salaries, golf days and lunch..?
makes sense, else the tax office will receive the bulk.
A bookmaker cannot claim the portion he has paid towards the GOBA fund, hence this is going to be a problem one day when the divorce needs to be formalised.

The question remains, on who's id number is the money deposited at the bank..
This can be a future problem...


HENCE, GOBA GUARANTEES a ticket to a max of R200,000, in the event that the bookmaker cannot pay.
However if the bookmaker gives you a cheque, and the cheque comes back, it becomes a case for the courts and GOBA no longer pays...???


given the numbers...
R200 per week contribution by each bookmaker...
R8m pool...
R150,000 guarantee by bookmaker at Gambling board..
R100,000 limit on tickets...
R200,000 limit by GOBA...but not bounced cheque..

should you be punting with the bookmaker..
commons sense tells you NO...
however, if you get credit with the bookmaker, then it becomes an option..
when you win..it becomes a fight..

the same old story..
rebel..we know the truth...but we continue...

The law states that no credit on gambling..

hence the R200,000 limit by GOBA per ticket....?
reasoning that a bookmaker does have R200,000 cash to pay a ticket, be it by his own means from his bank account (O/D) or by GOBA from the GOBA fund...?

However on a P6 ticket, the bookmaker does not know whether the P6 is going to pay more than R1m.
Thus, the bookmaker is breaking the law by laying the P6 bet without a R200,000 limit.
Why?
The bookmaker does not have the R1m in his bank to pay the ticket and neither will GOBA pay.
Hence, the bookmaker is now on the inverse..the punter is giving him credit..and breaking the law..

but then again, why will a punter take a P6 with a bookmaker..and not on the tote
CREDIT...CREDIT...CREDIT..stuff the law...?????
why will a bookmaker lay the P6 on credit...greed..greed..greed..or is it stupidity...???...surely does not make common sense to lay bets where one does not know the max risk...
OR is PHumelela to be blamed...4% kickback on tote turnover..

how can you lay me a P6 for R2880 and it pays R796,000.00
or a quartet for R240 + R288 and it pays R427,500.00

or does the myth still go around that punters are "mugs"...

Andrewest Wrote:

---

> The law states that no credit on gambling..
>

I understood the old 'law' on credit and gambling has long since been superseded by the new credit act. The old law gave protection to a gambler who borrowed money from a lender when the lender knew it was for gambling. Somewhat different from not paying a legal gambling debt but people tried to use it to get out of legitimate losses.

Otherwise can you point us to law you mention?

Jack,
a mate is head of organised crime....not the godfather..lol..but cops..
he pointed out that in february this year the laws were split..
1. game of skill
2. game of chance

and that offenders will be charged under the new racketeering act..
no bail..
min 15 years..

and that NO CREDIT CAN BE GIVEN for gambling...
he explained about the casino too..
that the credit card is swiped under a different company than the casino company to bypass the law..

will see him tomorrow and get the act numbers, get my friendly attorney to email the details and I will post it.

the issue i wanted to highlight was not the "NOT PAYING"..
I assume all gamblers pay, some sooner and others later..its an ego thing..

its the issue between the lines...
a bunch of outies giving credit to another bunch of outies...
and perhaps that's what Clyde wanted to say..lol..
many a truth is spoken in jest....

Bookmakers you cannot stand the P6 today (Saturday) because it could be a big payout.
I know you are all broke, but this one can break you.
You need to take all P6's back on the tote, even if the punter owes you lots.
Even if you have to settle the tote tomorrow with your own money (which you dont have, and have to borrow), because the punter is not going to settle you till next monthend, when he gets paid again.

hence the sad state of affairs...
Clyde's warning....

bookies that cannot afford to give credit(because they have to settle the tote the next day) giving credit to punters, who owe them fortunes, playing P6's who cannot afford to play cash on the tote..

...legal gambling debt...

Assuming that the law which they have split in February into :
1. game of skill and
2 game of chance,

states : NO CREDIT for GAMBLING....

do we still have legal gambling debt...which can be recovered by a court..

or do we revert to these tow truckers....
balled....
full of tramp stamps....
studds in the nose, lips...
plastic boob jobs (sorry I mean muscles)...
injected with (stagazol.or something like that.??) (the stuff they give race horses)....
coke...
9mm gun to collect the debt....such a big guy with a gun...makes you think...

lol...can only be fun..
wonder.....
if they wake up in a government mortuary...
3am with toe tag....
wrong name on the tag..
naked..

do you think they will continue the debt collection process...

barend used a prodder...believe it is 10,000 volts...500kg horse jumps...
or the USA bear spray..drops a 700kg bear...

jack

Government Gazette
volume 517
Cape town
14 july 2008
No 31245
section 13


Substitution of section 13 of Act 7 of 2004
13. The following section is hereby substituted for section 13 of the principal Act: 25
"Restrictions on granting credit to gamblers
13. (1} A person licensed to make any gambling activity available to the
public must not extend credit contrary to this Act or any other law, in the
name of the licensee or a third party, to any person for the purposes of
gambling. 30
(2) Despite subsection (1), an interactive provider may not extend credit
to any person for the purposes of engaging in interactive games.".




based on this all bookmakers must be closed down by tomorrow.
dont they send a copy of the turfsport system on cd to the gambling board each week for auditing..thats what is supose to happen..maybe we have forgotten about this by now..too much effort..too many problems...

from there the gambling board can see each bookmakers accounts, all giving credit
but they cannot close them down..their names appear as account holders too..?
like ICASA..why do you want us to lower the rate from R1.25 to 22cents..how do you expect these guys to pay our handshakes every month..

same as Phumelela, also giving the bookmakers credit on their tote outlets..
the bookmaker only has to pay tomorrow..many a bookmaker has had his lines cut..because he did not/could not pay the tote account..in time...????..at all..
but that was a day later..the law was still broken..listed company..
where are the auditors..checks and balances..or are they taking bribes too..
thats the "balances" and the "Cheques" they understood...?
all should be in jail...CEO,CFO,CIO and the AUDITORS...

"lekker hier in die nuwe suid afrika", "die wette is vir die poepols", "nie vir ons mense nie"...afrikaans..get your mate to translate...

and if the bookmaker send old "gummy bear" with his "plastic muscles"..the poor guys get 15 years..no bail..racketeering...

what has the industry come to...ag shame..

lets find a winner..and back it on acoount...