BBC Finance - more racism

hallmark

danothy wrote: »

Unfortunately my sense of humour seems to be broken, it only triggers when something funny happens ...

It's all that debt making you miserable. Take up match betting, you'd be able to pay it off in a year, two at most.

danothy

hallmark wrote: »

It's all that debt making you miserable. Take up match betting, you'd be able to pay it off in a year, two at most.

Do you mean the debt that I only have a conditional liability towards? Why would that make me miserable? Paying off a student loan is the last financial thing on the list to do. Thanks for the bad advice though.

hallmark

danothy wrote: »

Do you mean the debt that I only have a conditional liability towards? Why would that make me miserable? Paying off a student loan is the last financial thing on the list to do. Thanks for the bad advice though.

Why is legally & ethically earning £10k-£20k a year in your spare time bad advice?

Serious question.

danothy

hallmark wrote: »

Why is legally & ethically earning £10k-£20k a year in your spare time bad advice?

Serious question.

I'm not so sure matched betting is ethical, that aside, I consider it bad advice to suggest someone in my situation pays off their student loan.

hallmark

danothy wrote: »

I'm not so sure matched betting is ethical, that aside, I consider it bad advice to suggest someone in my situation pays off their student loan.

Really? What on earth do you think is unethical about it? Betting is 100% legal & tax-free in the UK.




Paying off a loan is never bad advice IMO but we can disagree on that.

danothy

hallmark wrote: »

Really? What on earth do you think is unethical about it? Betting is 100% legal & tax-free in the UK.

Well it's the use of the betting exchanges, so you're using a free bet to potentially channel money from other people. Being legal and tax free doesn't mean you're not exploiting someone.

hallmark wrote: »

Paying off a loan is never bad advice IMO but we can disagree on that.

Almost always true, but with student loans the liability is limited and generally you're better off saving for a mortgage or to prevent other commercial credit being needed at some point in the future. Which is what I am doing at the moment. But is is a corner case and only really applies because of the income contingent liability.

Graham_Devon

danothy wrote: »

Well it's the use of the betting exchanges, so you're using a free bet to potentially channel money from other people. Being legal and tax free doesn't mean you're not exploiting someone.

I don't think you understand matched betting. The free bets are coming from the bookmakers.

danothy

Graham_Devon wrote: »

I don't think you understand matched betting. The free bets are coming from the bookmakers.

Yes, but to lay bets you generally have to place them on betting exchanges, and hence against individuals, at which point you're systematically putting a bookie or a punter in a guaranteed loosing position, therein lies the exploitation. I wouldn't have a problem with it if it was just bookies.

That said, you may be right, I may not understand it properly, but when I looked into it it seemed to be exploitative to me so I abandoned the idea.

I feel the same way about systematically making money from online poker too to be honest. Betting against the house is fine, but betting against people when you have an effective system isn't fair in my book as you may well be inadvertently targeting a vulnerable person.

StevieJ

If it was up to me I would ban all credit and internet gambling, even though I enjoy some of it myself. I have seen the damage that can accrue

Graham_Devon

danothy wrote: »

Yes, but to lay bets you generally have to place them on betting exchanges, and hence against individuals, at which point you're systematically putting a bookie or a punter in a guaranteed loosing position, therein lies the exploitation. I wouldn't have a problem with it if it was just bookies.

That said, you may be right, I may not understand it properly, but when I looked into it it seemed to be exploitative to me so I abandoned the idea.

I feel the same way about systematically making money from online poker too to be honest. Betting against the house is fine, but betting against people when you have an effective system isn't fair in my book as you may well be inadvertently targeting a vulnerable person.

The whole of gambling is based on people losing and people winning, and the house taking a cut.