highest paid boss in the uk

[planetgeli]

FOBT were by far the main profit maker for bookies before the reduction in stake from £100 to £2.

The figure bandied about is 40% of their profits.

Here are some bookies whinging about the reduction, while admitting it hasn't hit them quite as hard as they claimed it would when they were lying to parliament about the thousands of job losses it would (and didn't) cause*.

Independent bookmakers hit hard as FOBT revenues plummet 40 per cent

Early indications suggest the government's decision to cut FOBT stakes to £2 has reduced revenues from the controversial machines by around 40 per... Read More

www.racingpost.com

*Yes it led to some. Nowhere near the amount claimed beforehand though.

Apologies this was only the figure for reduction in FOBT revenue.

The actual figure for profit from them is much higher. This article

Fixed Odds Betting Terminals (FOBTs) - Everything You Need To Know - Online Betting UK

Bookmakers have been on our streets since the 1960s. Before that they were a staple of racecourses throughout the country, offering odds on every race taking place and attracting punters week after week. Their constant evolution has seen them go from ‘undesirable’ locations on the backstreets of...

www.onlinebetting.org.uk

suggests a profit of £50,000 per machine (per year). This is why FOBT changed the game for high street bookies in 2004.

Look at this

Little wonder that the Gambling Commission believe that about a tenth of all money earned by the gambling industry in the UK - including other betting shop bets, lottery wagers and casinos - between April 2016 and March 2017 came from Category B2 machines. That’s around £1.8 billion of a £13.7 billion total.

(More than) A tenth. This includes lottery tickets. And casinos.

 

[8ball]

All Sports bets.

Rtp (real time payout) on an online fruitie is 95-97%

When you can get people cranking these things time after time for practically zero outlay, that’s a lot of money you can make (extract).

I’d suggest that this level of payout is carefully calibrated to extract the maximum amount of cash from the user over an extended period.

 

[bmd]

Ah, right. If it was just basic inactivity, that’s understandable. “Not losing enough regularly enough” is quite different obv.

That’s why I like your old style bookies - walk in, do your biz with cash, walk out. Not easy for them to track who was winning/losing what and how much. Means they have to do their actual job, which is keeping a book of bets.

Instead, you get the boilerplate “we regret to inform you that your betting behaviour is incompatible with our neural exploitation template” letter.

Inactivity is a reason for banning me? It's not like the room was full up, is it?

When I was getting back into work after my brain fart, I got a job in a bookies for a while. Loved it. Really loved it.

 

[bmd]

When you can get people cranking these things time after time for practically zero outlay, that’s a lot of money you can make (extract).

I’d suggest that this level of payout is carefully calibrated to extract the maximum amount of cash from the user over an extended period.

Plus it's not like you put in a quid and get 93p back. There's someone, somewhere who wins and then everyone else is drained of cash to top up the pool again. All of the FOBTs in a chain are linked. So that 97% is across the whole lot. Not just the one you're playing. They were a fucking awful thing. Terrible. Like having a room for crack addicts where you go in, stick a needle in your arm and your bank details in the machine and it just carefully doles out a dose to you until all your money is gone.

 

[8ball]

Plus it's not like you put in a quid and get 93p back. There's someone, somewhere who wins and then everyone else is drained of cash to top up the pool again. All of the FOBTs in a chain are linked. So that 97% is across the whole lot. Not just the one you're playing. They were a fucking awful thing. Terrible. Like having a room for crack addicts where you go in, stick a needle in your arm and your bank details in the machine and it just carefully doles out a dose to you until all your money is gone.

Never heard anything about linking them, but I guess it might make sense to have punters see someone near them winning regularly.

Would still work if they were just to let the probabilities do the heavy lifting, though.

 

[8ball]

Inactivity is a reason for banning me? It's not like the room was full up, is it?

It can be. Lots of places on tinternet will clear out inactive accounts from time to time. It’s just housekeeping. Not saying it was anything to do with it in your particular case.

 

[tonysingh]

Fuck, I hate the gambling industry with a passion. A pox upon anyone that works within. Its a pernicious evil.

 

[brogdale]

Fuck, I hate the gambling industry with a passion. A pox upon anyone that works within. Its a pernicious evil.

Agreed; the grip it had on my old Dad meant we were poorer and stayed poor.

 

[brogdale]

Those millions they pay themselves every day stem from the same misery of millions of other families; utter cunts.

 

[8ball]

But now the ads say “when the fun stops - stop”.

So everything is fine now.

 

[AverageJoe]

Fuck, I hate the gambling industry with a passion. A pox upon anyone that works within. Its a pernicious evil.

Cheers Tony

 

[two sheds]

I just don't see the attraction of gambling. You lose money and cunts like this woman get ultra rich as a result. It's such a con.

I don't bet - just the idea that you could lose everything if you get addicted/carried away horrifies me.

 

[two sheds]

But now the ads say “when the fun stops - stop”.

So everything is fine now.

Yes like they could be advertising heroin "when the fun stops - stop"

 

[Saul Goodman]

But now the ads say “when the fun stops - stop”.

So everything is fine now.

Oh, that's OK then. I thought addiction came into play at some stage but I was obviously wrong.

 

[tonysingh]

Cheers Tony

Sorry.

Maybe if I said most people in it? I'm sure there are people capable of more, like yourself. Surely working in a less morally bankrupt industry isn't beyond you?

It's just I live in a town where if I walk from the bus station to the of the high st, I'll pass 6 betting shops and 2 of those amusement aracades. All this in a walk of maybe 15 minutes and through a town severely deprived with huge social issues.

Gambling is a tax on the poor, simple as that.

 

[8ball]

Oh, that's OK then. I thought addiction came into play at some stage but I was obviously wrong.

No. It’s all fine.

 

[AverageJoe]

Sorry.

Maybe if I said most people in it? I'm sure there are people capable of more, like yourself. Surely working in a less morally bankrupt industry isn't beyond you?

It's just I live in a town where if I walk from the bus station to the of the high st, I'll pass 6 betting shops and 2 of those amusement aracades. All this in a walk of maybe 15 minutes and through a town severely deprived with huge social issues.

Gambling is a tax on the poor, simple as that.

It's OK. I was teasing.

Although I am a terrible cunt.

Not really

 

[tonysingh]

It's OK. I was teasing.

Although I am a terrible cunt.

Not really

Fucks sake.

Cunt.

 

[stdP]

Fuck, I hate the gambling industry with a passion. A pox upon anyone that works within. Its a pernicious evil.

I was offered a job by some gambling company or other about a decade or so back - the money was incredible, about 30-40% more than the going market rate as well as double-time overtime, big fat pension contributions, no dress code, no set hours, the works.

I'm happy to say I turned it down - a very dear friend of mine had a boyfriend who was addicted to gambling; not only had he convinced them to lend him 20k to cover his debts, but as it later turned out he'd also applied for fake loans and a remortgage of their house - left them 50k in the hole when the entire charade was exposed. I was lucky enough to be affluent enough to be able to turn down a job with money like that on an ethical stance, but I'm plenty sure there's lots of people since who can't.

 

[Spanner]

Gambing is far worse than smoking. Smoking can't legally be advertised. The same rules should be applied to gambling.

Apart from advertising, why is gambling “far worse than smoking”?

Why should “the same rules should be applied to gambling”?

 

[Spanner]

I just don't see the attraction of gambling. You lose money and cunts like this woman get ultra rich as a result. It's such a con.

A con is when you are told “you can’t lose”. Most bookies are quite upfront when they say “you can’t win”. Watch the adverts.

By the way, calling a woman a “cunt” is out of order.

 

[Saul Goodman]

Apart from advertising, why is gambling “far worse than smoking”?

Why should “the same rules should be applied to gambling”?

Because I said so.

 

[AverageJoe]

Unlike a lot of people who earn this kind of money (and there are loads, it's just that we don't know them necessarily) Denise Coates has at least kept her company in the UK, paid proper taxes and used multiple million of pounds to set up charities.

She could have easily gone the Amazon, Facebook and even a lot of other online gaming companies and moved offshore to stop paying this. But she didn't.

So Denise Coates. Created a monster but kept the monster tamed by putting over £200million into charitable projects.

VS. Amazon, Facebook etc who moved offshore to hide their profits.

Who's the real monster. Because I guarantee a lot more people use the latter two products than the former..

 

[Saul Goodman]

Who's the real monster.

Denise Coates

 

[AverageJoe]

How

 

[Saul Goodman]

How

She preys on vulnerable people. She ruins lives and families, and earns a fortune for her troubles. Giving a little back to charity is both bollocks and tax deductible.
Jimmy Savile did a lot of charity work, too.

 

[AverageJoe]

Saul, Google Teddy Sagi and Calvin Ayre in the same industry. And then maybe Google "Internet billionaires".

You're post is glib. And pretty shit. I expected more from you as you seem to be an educated voice on these boards.

Maybe I'm wrong.

 

[AverageJoe]

She preys on vulnerable people. She ruins lives and families, and earns a fortune for her troubles. Giving a little back to charity is both bollocks and tax deductible.

The laziest response ever. I'm ashamed to know you and your awesome breakfasts

 

[AverageJoe]

If you want to get angry. Get angry about the bosses of charities and the money they earn. They didn't even set up the company. They don't even have any game plan apart from "let's pay six figures for a TV ad asking people to donate a few quid. Then let's pay seven figures to run a TV advertising campaign."

See. It's all all fucked. There isn't a job in existence that doesn't upsell or promote products. From your corner shop to the massive multinationals selli g or doing whatever.

To hit on Denise Coates year after year is lazy, tiresome and missing the poi t as your focusing on her as opposed to the millions of companies that are happily relieving you of your hard earned cash withoit you knowing it.

 

[Saul Goodman]

The laziest response ever. I'm ashamed to know you and your awesome breakfasts

Bet365 boss Denise Coates’ charity ‘sitting on donations worth millions’

The charity run by the gambling tycoon Denise Coates has been accused of sitting on millions in donations. Coates, 53, the joint chief executive of her family

www.thetimes.co.uk

It has no website, but according to the Charity Commission the Denise Coates Foundation received £85 million in donations up to March last year but spent only £9.9 million.

Kishan Patel, from the gambling harm group Talkgen, said that the money could be used to fund services to address gambling addiction. “Research, education and treatment into gambling harm has been chronically underfunded for several years now and the Denise Coates Foundation sits on £300 million and [has] never made any donation to reduce or prevent gambling harm,”