Comments on: BBC’s Panorama, the most famous investigative TV news show of British television (the equivalent of CBS’s 60 Minutes in the US), will air a segment on sport corruption and insider trading in the world of betting, on Wednesday, July 30, 2008. http://www.midasoracle.org/2008/07/26/bbc-panorama-betting/ Prediction Markets, etc. Thu, 02 Feb 2012 23:13:18 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Adonis http://www.midasoracle.org/2008/07/26/bbc-panorama-betting/#comment-21025 Adonis Wed, 06 Aug 2008 17:51:37 +0000 http://www.midasoracle.org/?p=7808#comment-21025 What more should be expected of a Country where general practices have become so decadent that it is <strong><em>perfectly acceptable</em></strong> for: 1. A state-licenced betting Company to restrict the free speech of its Customers arbitrarily, and without providing any reason for that whatsoever.......[This is my own, DIRECT experience with one such Company] 2. A state-licenced betting Company which openly admits to  "freezing" Time during which it abstracts a proportion of Customers' bet/lay offers into its own coffers, <strong>yet imposes Time delays on those same Customers in case another <em>CUSTOMER</em> manages to fleece them via the vagaries of Relative Timeliness.....</strong> The UK Citizenry will continue to suffer at the hands of these "New Wave" autocrats until exasperation (and profligate sufferance) generates the age-old maxim:-  "so far, and NO FURTHER". We appear to be a long way from that point yet, so there is much more hay to be made until the inevitable backlash happens, and complacency returns to the back seat. Adonis What more should be expected of a Country where general practices have become so decadent that it is perfectly acceptable for:
1. A state-licenced betting Company to restrict the free speech of its Customers arbitrarily, and without providing any reason for that whatsoever…….[This is my own, DIRECT experience with one such Company]
2. A state-licenced betting Company which openly admits to  “freezing” Time during which it abstracts a proportion of Customers’ bet/lay offers into its own coffers, yet imposes Time delays on those same Customers in case another CUSTOMER manages to fleece them via the vagaries of Relative Timeliness…..
The UK Citizenry will continue to suffer at the hands of these “New Wave” autocrats until exasperation (and profligate sufferance) generates the age-old maxim:-  “so far, and NO FURTHER”.

We appear to be a long way from that point yet, so there is much more hay to be made until the inevitable backlash happens, and complacency returns to the back seat.
Adonis

]]> By: medemi http://www.midasoracle.org/2008/07/26/bbc-panorama-betting/#comment-21013 medemi Tue, 05 Aug 2008 19:52:40 +0000 http://www.midasoracle.org/?p=7808#comment-21013 Constructiveness is hard to find in Britain these days, it’s all about money and self-preservation. That shouldn’t surprise us when we witness a society that has been infected with Thatcherism and laws that restrict people‘s personal freedom in stead of preserving it. It’s very sad to watch this, from a distance. Because it’s not the people’s fault. It never is. Constructiveness is hard to find in Britain these days, it’s all about money and self-preservation. That shouldn’t surprise us when we witness a society that has been infected with Thatcherism and laws that restrict people‘s personal freedom in stead of preserving it. It’s very sad to watch this, from a distance. Because it’s not the people’s fault. It never is.

]]> By: Adonis http://www.midasoracle.org/2008/07/26/bbc-panorama-betting/#comment-21012 Adonis Tue, 05 Aug 2008 17:59:21 +0000 http://www.midasoracle.org/?p=7808#comment-21012 FWIW, I watched the BBC programme and found it fuzzy and out of date. Their reportage is focussed on controversy generation (IMHO) and dumbed-down "excitement of the chase" instead of determining the key factors and enlightening their audience on the way that those key factors can be manipulated to produce fraud. It seemed quite clear to me that everyone interviewed that had a position of some Authority seemed far more concerned with AVOIDING addressing ANY issues than "earning their keep". Also seen ( yesterday) was this reportage (from the UK's Racing Post) regarding the UK's Gambling Commission: " The [UK] gambling commission cost the [UK] betting industry more tham £11.5 million in the year to the end of March. This includes £9.3 million for 222 staff. A thousand complaints were handled by the commission, that's £11500 to sort out each complaint. Following investigations 17 licences and 10 certificates were revoked, thats £425,925 to sort out each one. At the end of the year the commission had total assets of £6.5 million. " Quite where Joe Public goes to find <em><strong>a GC published list</strong></em> of who got canned, who got beaten up, who got warned (and for what) by this Public Authority remains a complete mystery! We pay, THEY say, it seems....... but <strong>only</strong> when it suits <strong>them</strong>. The mushroom principle survives, still...... Adonis FWIW, I watched the BBC programme and found it fuzzy and out of date. Their reportage is focussed on controversy generation (IMHO) and dumbed-down “excitement of the chase” instead of determining the key factors and enlightening their audience on the way that those key factors can be manipulated to produce fraud.
It seemed quite clear to me that everyone interviewed that had a position of some Authority seemed far more concerned with AVOIDING addressing ANY issues than “earning their keep”.
Also seen ( yesterday) was this reportage (from the UK’s Racing Post) regarding the UK’s Gambling Commission:
”
The [UK] gambling commission cost the [UK] betting industry more tham £11.5 million in the year to the end of March. This includes £9.3 million for 222 staff. A thousand complaints were handled by the commission, that’s £11500 to sort out each complaint. Following investigations 17 licences and 10 certificates were revoked, thats £425,925 to sort out each one. At the end of the year the commission had total assets of £6.5 million.
”
Quite where Joe Public goes to find a GC published list of who got canned, who got beaten up, who got warned (and for what) by this Public Authority remains a complete mystery!
We pay, THEY say, it seems……. but only when it suits them.
The mushroom principle survives, still……

Adonis

]]> By: medemi http://www.midasoracle.org/2008/07/26/bbc-panorama-betting/#comment-21000 medemi Tue, 05 Aug 2008 07:38:54 +0000 http://www.midasoracle.org/?p=7808#comment-21000 <em>We are all not fully informed about internal things that happened in companies, obviously. - </em>FWIW, I made up my mind yesterday, before the major event. It's not one of both, you're both. I suppose that's a healthy combination in a tough environment. Should anyone want to get personal with me, please don't hold back. I'm quite used to that. We are all not fully informed about internal things that happened in companies, obviously.
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FWIW, I made up my mind yesterday, before the major event. It’s not one of both, you’re both. I suppose that’s a healthy combination in a tough environment.
Should anyone want to get personal with me, please don’t hold back. I’m quite used to that.

]]> By: medemi http://www.midasoracle.org/2008/07/26/bbc-panorama-betting/#comment-20993 medemi Mon, 04 Aug 2008 21:42:15 +0000 http://www.midasoracle.org/?p=7808#comment-20993 We are all heartbroken about it, betfair. Our legal dream team. :-D Make it a short celebration. We are all heartbroken about it, betfair. Our legal dream team. :-D
Make it a short celebration.

]]> By: Chris F. Masse http://www.midasoracle.org/2008/07/26/bbc-panorama-betting/#comment-20991 Chris F. Masse Mon, 04 Aug 2008 15:10:01 +0000 http://www.midasoracle.org/?p=7808#comment-20991 Some comments from Ed Murray here were deleted by me. Defamatory. - I told Ed Murray <strong>MANY TIMES</strong> not to publish defamatory material against BetFair. He did it again. - It's with deep regret and sadness that I am banning Ed Murray from commenting here. Some comments from Ed Murray here were deleted by me.
Defamatory.
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I told Ed Murray MANY TIMES not to publish defamatory material against BetFair. He did it again.
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It’s with deep regret and sadness that I am banning Ed Murray from commenting here.

]]> By: Chris F. Masse http://www.midasoracle.org/2008/07/26/bbc-panorama-betting/#comment-20987 Chris F. Masse Mon, 04 Aug 2008 10:22:39 +0000 http://www.midasoracle.org/?p=7808#comment-20987 @medemi: "people are wondering whether Chris is a bit naive, or simply very smart." - We are all not fully informed about internal things that happened in companies, obviously. @medemi: “people are wondering whether Chris is a bit naive, or simply very smart.”
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We are all not fully informed about internal things that happened in companies, obviously.

]]> By: medemi http://www.midasoracle.org/2008/07/26/bbc-panorama-betting/#comment-20986 medemi Mon, 04 Aug 2008 01:19:31 +0000 http://www.midasoracle.org/?p=7808#comment-20986 There was no reaction on the betfair forum about the programme because people already know what is going on. Panorama chasing 2 criminals who look like idiots ? You can find those in any area. Panorama failed big time, this time. They probably made a deal with Mark Davies of betfair not to ask any hard questions or else they wouldn't get in. It was pathetic. If that is the best you can do then I really fear for Britain's future. I'm not saying they should expose more criminals, there seems to be no purpose, no goal. You can implant every person with a chip and you won't notice a bloody difference. There was no reaction on the betfair forum about the programme because people already know what is going on. Panorama chasing 2 criminals who look like idiots ? You can find those in any area. Panorama failed big time, this time. They probably made a deal with Mark Davies of betfair not to ask any hard questions or else they wouldn’t get in. It was pathetic. If that is the best you can do then I really fear for Britain’s future. I’m not saying they should expose more criminals, there seems to be no purpose, no goal. You can implant every person with a chip and you won’t notice a bloody difference.

]]> By: medemi http://www.midasoracle.org/2008/07/26/bbc-panorama-betting/#comment-20982 medemi Sun, 03 Aug 2008 22:10:41 +0000 http://www.midasoracle.org/?p=7808#comment-20982 Ed, - I think it's beautiful given the unfortunate circumstances. The moment you reveal their names (should you know them) is the moment you'll become a victim yourself. The same applies to Chris when he choses to pick sides. I'm sure a lot of people are wondering whether Chris is a bit naive, or simply very smart. It's one of both and I have a pretty good idea by now which one it is. As for you Ed, simply keep doing what you are doing as long as you're being honest. And return the problem to betfair by bringing it out in the open, a problem which originated from them in the first place. This could be poor advice though. Either way, have fun. :-) Ed,
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I think it’s beautiful given the unfortunate circumstances. The moment you reveal their names (should you know them) is the moment you’ll become a victim yourself. The same applies to Chris when he choses to pick sides. I’m sure a lot of people are wondering whether Chris is a bit naive, or simply very smart. It’s one of both and I have a pretty good idea by now which one it is. As for you Ed, simply keep doing what you are doing as long as you’re being honest. And return the problem to betfair by bringing it out in the open, a problem which originated from them in the first place. This could be poor advice though. Either way, have fun. :-)

]]> By: Chris F. Masse http://www.midasoracle.org/2008/07/26/bbc-panorama-betting/#comment-20976 Chris F. Masse Sun, 03 Aug 2008 17:28:44 +0000 http://www.midasoracle.org/?p=7808#comment-20976 @Ed Murray: Ed, I talk tough to all sides. - Ed, BetFair has a policy to fire any employee who would look into traders' accounts and use that info for personal use. @Ed Murray: Ed, I talk tough to all sides.
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Ed, BetFair has a policy to fire any employee who would look into traders’ accounts and use that info for personal use.

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