Why don't more books operate out of the U.K.?

[Kev]

Curious as to why books stay in costa rica, cur., panama, etc when they can operate with no issues in the UK?

Forgive the feeble question as I have no idea of the logistics of operating a UK based book.

UK credit card processors appear to carry a much better conversion rate than elsewhere! I'd think this would be an attractive proposition and surely a big boost to a book's handle.

 

[VG789]

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[This message was edited by VG789 on June 27, 2003 at 04:42 AM.]

 

[Tiranthax]

I figure its because the labour is much more expensive in UK and the taxation policies.

 

[Dante]

welcome chilidog to the RX

 

VG789,

www.ssp.co.uk

One of the shittiest books out there and still in business. People from Finland waited and waited their monies for months. And a weirdest thing is that some idiots are still betting with them.

Kev,

Wait couple of years and there are a lot of new books operating from Europe, but not from UK. I have had plans to jump into this business at some time and next year might be a perfect time.
Lets see....

 

[lakerfan]

If US focused book, work schedule is awkward since 4 to 7 hour time difference from US.

Labor costs

US and UK governments TOO CLOSE

 

[Tiranthax]

Thank you Dante!

 

[WildBill]

UK books make plenty of money just focusing on the high vig European business. The beauty of Europe business is that a lot of it is run by the lottery and their outrageous vig, so private businesses don't have to offer much of a better deal and they will get plenty of business. Bottom line is that UK books just booking soccer and other events to Europeans can generate tons of profit and I suspect most of them don't want to jeopardize that side of the business by getting into lower margin American sports that they don't understand and can't fathom how their competitors do things like Pinnacle's level of vig.

Maybe with Canbet there now to compete with the modest offerings of places like Sportingbet it will get more businesses involved with the US side of things. The market is certainly there and the costs aren't really that much more because a book's biggest cost and hassle is systems and telecom and in those regards the UK completely blows the other sites for offshores off the map. The cost to a book operator of an 800 call is 2 to 3 times higher than having that call go to the UK. Even more compelling is that the downtime and reliability is much higher as there is far more redundancy to the UK since many CR calls don't go through wirelines the whole way, but you can get dirt cheap wire connects to the UK. I did a lot of analysis on this for an operator and the bottom line was that even though wages are on the level of about 3 times higher, what really made it difficult was rent for an appropriate building is extremely expensive, especially since the places with good hookups to communications and a good pool of systems savvy people tends to be near the high cost areas. If you could get a book that was at least 80% internet business then UK made sense (think how Canbet and its nearly completely internet business chose to go there), but as long as people are still tied to the idea of making wagers over the phone then cheap labor and cheap rents are going to keep the advantages elsewhere.

 

[RPM]

wouldnt operating costs such as office space and things of that nature cost a lot more in uk?

 

[buddyboy]

Might have something to do with NOT having a criminal record...

just joking.

 

[GringoinCR]

You can operate out of the UK if you want to loose the US market.

 

[IntuitionBET]

one GOOD reason is it's not that easy to get a U.K.license.

 

[WildBill]

Good point. Also money in trust seems to be a concept that is like a foreign language to most offshores

Still I believe many of the big players could get licensed and afford the business, its just they like CR or wherever they are and like the cost advantages it gives them. It just goes to prove the value of a safe jurisdiction means very little to those that bet offshore. After all over half of the people that do bet probably assume they will eventually lose so why even worry about details like jurisdictions is probably their thought.

 

Intuition BET,

Difficult to get a licence in UK?? There are thousands of bookmaker and betting office licences granted. I don't know what is a licence fee for internet betting, but normal bookmaker licence is £160 (3 years) and renewal of that licence is £20. Betting office licence is £125 (3 years) and renewal £25.

Casino licecnes are more expensive £8 200 (1 year).

 

[VG789]

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by Faceless:
VG789,

http://www.ssp.co.uk

One of the shittiest books out there and still in business. People from Finland waited and waited their monies for months. And a weirdest thing is that some idiots are still betting with them.

Kev,

Wait couple of years and there are a lot of new books operating from Europe, but not from UK. I have had plans to jump into this business at some time and next year might be a perfect time.
Lets see....<HR></BLOCKQUOTE>


SSP is indeed ,nothing but shit!

 

[GringoinCR]

Did you notice the CR troops in Iraq? You add up the math.

 

[PariActionOffice]

The Uk is just finally formalizing legalized gaming as until now, it has happen in places like the isle of Mann etc. and under brick and mortar licenses. They expect to have their fully legal online-only licenses by first quarter 2004

But to anwser your question in a word:
taxes

 

[slots]

I run out of the UK. It is WAY more expensive here for one. Why be here? Well if you are going to want to advertise in the UK, you have to have a license here and pay tax. In terms of booking american sports as your main function, it wouldnt be so easy with the time diff, not getting as much live sat TV coverage, etc. Bet365 does it full on, but they are about it. The other thing is your two main merchant banks RBS and NatWest are starting to ask for seven figure amounts to hold as bond for running betting thru their credit card systems...Most small guys won't bother. That said, if your operating a global shop, then the UK has many plus points.

 

[exilarch]

Here is the reason: Most books from CR,Caribbean,etc. could never obtain a license in the UK.They are too sleazy. That's why all the bookmakers here all have aliases.

 

[exilarch]

Here is the reason: Most books from CR,Caribbean,etc. could never obtain a license in the UK.They are too sleazy. That's why all the bookmakers here all have aliases.