'Consultation over the Gambling Introductory Offer Loopholes board' blog discussion

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Comments

  • Pricy147
    Pricy147 Posts: 1,320 Forumite
    matched betting board is equal to payday loan companies! LOL

    Give me a break. The loans and credit card boards are more aligned with legalised loan sharks than this board.

    The main problem with the board are the people who dive in without understanding the concept and/or have little self control.

    Having firstly started on this board over seven years ago (after stumbling across it) - it has changed my life - paid for an extension on the house - 2 (expensive) new cars, and endless other things.

    suggestion: why not 'hide' the board content to all users - except those that have completed a questionairre that clearly highlights they understand the concepts - and also accept any risks based on the content they read.

    as for truly risk free - as others have said - nothing on the board or in life is truly risk free. How about the recent forah over the foreign currency exchange (Crown Currency Exchange). you need to use your head in this life, and use your own judgement on what information is good or bad.

    closing the most profitable board on the forum is senseless and will block others from profting from a lucrative hobby. I can go elsewhere - but not everyone can.
    To Stooze or Not To Stooze - Theres only one option :D
  • crowding
    crowding Posts: 673 Forumite
    I find the forum to be amazingly useful, and without it I certainly wouldn't be in a stable financial state right now.

    I would argue that the majority of the offers are risk-free, if they're being done by someone who exercises the most important rule of matched betting - caution.

    I've been MBing for 6 months and I've made 'mistakes' which have led to an account somewhere being limited but no financial loss.

    The community over the past few months particularly has started to get a lot of reckless/cocky new users who have ended up losing money by cutting corners and acting on impulse rather than informed decisions.

    I do understand that under certain definitions GIOL may not be suitable for these forums. I would hate to see it go though as this forum has easily been my most valuable resource (well, Oddsmonkey is up there too) in helping me earn ~£5000 in just under 6 months, for very little of my time.

    Users such as Jobbingmusician, Grumbler, Red Joker and others are fantastically helpful and I like to think 6 months on that I now a degree of understanding where I can help others.

    The trouble arises when fresh Matched Bettors believe they know everything and choose not to take on advice and act without fully understanding things.

    Something unfeasible that I think would be great would be giving access to the current offers e.t.c only after a user has proven they have done their research:

    I have taught a few friends how to MB now, and I would hate to have a friend come to me and say they've lost loads of money doing something I encouraged them to do. I instruct them to go and read the Introductory Guide provided on these forums and pass a short verbal test with me before I agree to refer them to Betfair and their get them started with their first offers.
  • jaydeeuk1
    jaydeeuk1 Posts: 7,714
    Debt-free and Proud!
    Forumite
    blades123 wrote: »
    There are a number of mis-conceptions which people are posting to try and close this site down. I think one was from earlier today which has been deleted. You said arbing wan't risk free. How is arbing not risk free? Ain't that the point of match betting i.e to find arbs?

    To be fair, arbing is slightly more risky than just doing a straight matched bet for a small loss. We might be able to distinguish between a palp and a valid bet, but a new starter won't. If you're lucky, the book might pay out on adjusted odds, if they're gits, they won't pay out at all (I have a list somewhere of books to avoid like this)

    And for the record, I haven't placed an arb bet for 2 years ;)
  • meher
    meher Posts: 15,911
    Combo Breaker First Post
    Forumite
    no need, imo, to consider shutting down or phasing out when the site is going global :snow_grin like google and wallmart, it should be about cleverly containing the gamblers :cheesy:
  • blades123
    blades123 Posts: 2,634 Forumite
    To the mods. If you are going to close the forum, please wait until after Chelts as that is our biggest Match betting day.
    I use multimatcher lazza which has the tab "bonus if 0-0"
  • From a commercial perspective, I wonder how much new traffic comes to this site from other forums thanks to GIOL?

    I started a thread about MBing on another UK business forum, even busier than MSE (I think), the first post points to MSE. Almost 1500 posts later, not one person has complained they have lost money or what we do is not risk free nor unbusinesslike or should be avoided.
  • Narc
    Narc Posts: 422 Forumite
    This was inevitable really, it was the most contentious topic area in the forums so I'm not surprised it is being let go under the guise of different reasons.

    The information there is good, the warnings clear and these offers a just a fraction as complex as most financial products and services - compare a bookmaker offer with the T&Cs on a mortgage.
  • jbet
    jbet Posts: 4,815 Forumite
    It is certainly interesting reading this thread and some people make very good points about other areas of MSE, that could equally give cause for concern.

    The word Gambling should never have been used for this board because it isn't, it is Matched Betting. Probably part of the reason the board is going to be closed is because of that word.

    It is a shame because the knowledge of the majority who use and contribute to this board is really strong and some of the techniques that have been formulated via thread discussions are staggering.

    The risks of matched betting are advertised on this board, its just a shame that "the children" have to be protected. A shame they can't go and play somewhere else (on MSE) and make similiarly stupid decisions on a loan or a mortgage.

    Matched Betting has radically changed many many people's lives, including mine. The people who say there is a risk of losing thousands are the ones who don't understand matched betting, can't be bothered to do their research or just troll for the sake of it. There are many of us that didn't do PRS.

    I am sure that there will be a phoenix from the Ashes, long live GIOL.

    433255phoenix_rising.jpg
    North London is Lilywhite
  • Mat_P
    Mat_P Posts: 202 Forumite
    blades123 wrote: »
    There are a number of mis-conceptions which people are posting to try and close this site down. I think one was from earlier today which has been deleted. You said arbing wan't risk free. How is arbing not risk free? Ain't that the point of match betting i.e to find arbs?

    Secondly, this is not gambling. We do not gamble and will never do. If people bothered to read the threads on how to Match bet, they will see that at any point, we do not gamble and if you follow the rules then you should never gamble. Why place a bet which could easily lose when you can match bet and make money.

    Finally, if you followed the rules, you should be ignoring offers that are. +ev where you can lose money. The offers which are "what-if" and "stake refunded if someone scores" are risk free. If you follow the spreadsheets (making sure you understand them first) then you can place the correct bets / lays with out losing money. They should be posted on here and it is made very clear to people by other posters what they should be doing i.e wait for team news. If there if no way of locking profit, then don't do the lads offer.

    Sadly this is the level of ignorance now commonplace on this board.
    Lack of effective guidance from the one active board guide through naivety leads to situations such as the costly PRS debacle.
  • meher
    meher Posts: 15,911
    Combo Breaker First Post
    Forumite
    Just like you have he mse labs, you could have a locked mse conference room up there and invite some astute and experienced folks from the gambling board and other related sites to discuss this with the mse team and have a brainstorming session on how to save it - it is a money saving site and one such board ad users only to be expected. Better than letting people leave this board for exclusive gambling sites.
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