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Gordon goes to the carboot sale!

13

Comments

  • carolt
    carolt Posts: 8,531 Forumite
    Heyman wrote: »
    http://en.wikipedia.org/wiki/The_Tote

    Nothing new - Gordon's been trying to shift it since 2006, and it was in the manifesto to do it in 2001!

    We own a bookies?

    The state owns a bookmaker? Why?

    How ludicrous. If there's money to be made by selling it, then let's sell it!

    What else do we own I don't know about?

    Is there a state-owned greengrocers, or second-hand car dealers, !!!!!!?

    Sell them all!
  • lostinrates
    lostinrates Posts: 55,283 Forumite
    I've been Money Tipped!
    edited 12 October 2009 at 8:26AM
    The Tote has been a political hot potato in some circles for all my adult life. In recent history, last year? Sale of the tote was raised, then everything went quiet again (and I had a feeling is was discussed earlier in Labour government too?)

    The Tote was important when established, essentially it was counteraction to illegal betting, but this time has passed (IMO). Its not the only betting that the Goverment are invloved in..the Lottery of course.
  • kennyboy66_2
    kennyboy66_2 Posts: 2,598 Forumite
    The Tote and other bookmakers used to have a symbiotic relationship with horse racing in the days when there was nothing else to bet on - neither would have survived without each other. The bookmakers used to give as little as possible to racing, balanced by mots of the Tote's profits going back into racing.


    The Tote might have been worth upto £400m a couple of years ago, but bookmakers profits have started to fall, partly because of recession, partly because more internet competition.

    The majority of bookmakers shops are profitable only because of FOBT's - which are the crack cocaine of gambling and really should be banned (these allow people to play roulette etc. to stakes of £100 per spin).

    Now considering that Ladbrokes and William Hill, the 2 biggest bookmakers, have both issued profit warnings in the last 3 months, we can guess that its probably not the best time to sell the Tote.
    US housing: it's not a bubble

    Moneyweek, December 2005
  • Treadmill
    Treadmill Posts: 1,102 Forumite
    The tote seem to be doing rather well, there are more Tote shops on the high street than you used to see, might be a bad time to sell a bookies though, Ladbrokes are in the middle of raising cash because times are hard, so I would think the Tote who are not as well known or innovative probably have a fair bit of debt.

    I'd expect somebody like Paddy Power of Victor Chandler to buy it and so expand into more high streets
  • Wasn't it the Dartford Crossing that was supposed to be "Given back" to the people around 6 years ago when it was fully paid for????...

    sceaming Labour !!!!!!!s... promise something and then renage on it, still we should have known..

    Yep, in 2003. Labour couldn't afford to keep that promise as Brown needed to pay off the bridge loans in his own consituency, so they could be toll free.
    RENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
    Read the sticky on the House Buying, Renting & Selling board.


  • amcluesent
    amcluesent Posts: 9,425 Forumite
    I wouldn't mind buying a student (via their debt). They would be my serf.
  • Mr_Mumble
    Mr_Mumble Posts: 1,758 Forumite
    "The state is the great fiction by which everybody seeks to live at the expense of everybody else." -- Frederic Bastiat, 1848.
  • kennyboy66_2
    kennyboy66_2 Posts: 2,598 Forumite
    Treadmill wrote: »
    The tote seem to be doing rather well, there are more Tote shops on the high street than you used to see, might be a bad time to sell a bookies though, Ladbrokes are in the middle of raising cash because times are hard, so I would think the Tote who are not as well known or innovative probably have a fair bit of debt.

    I'd expect somebody like Paddy Power of Victor Chandler to buy it and so expand into more high streets

    There are more bookmakers on the street because of FOBT's which generate a net profit of £667 per machine per week - and shops are allowed upto 4.

    If these were banned (and there is a pretty strong case), you could see the number of high street bookmaker shops fall by 50%.

    Still, you can't say Labour hasn't been good for business (if you were a bookmaker or lap dancing club).
    US housing: it's not a bubble

    Moneyweek, December 2005
  • nickj_2
    nickj_2 Posts: 7,052 Forumite
    is there something slightly ironic that now gold is at a record high , he daren't sell any . that's if we have any left to sell ,
  • kabayiri
    kabayiri Posts: 22,740 Forumite
    Part of the Furniture 10,000 Posts
    Sell orrfff the monarchy, on a timeshare basis. Should bring in a King's ransom.

    I even have a slogan :- "King for a day" :)
    (think I have nicked it from somewhere though..)
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