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Is BetFair scam ?
Dear Sir / Madam, I have been betting at Betfair since 2017 and withdraw with no issue, but now they suddenly blocked my withdraw option without telling me anything. Also there is no help live support at all https://prnt.sc/tw4rp4 https://prnt.sc/tw4s6x I have to contact them via Email and they said that I have to do the KYC to verify my account (AGAIN?!) Althought I already did it long time ago, I also withdrew my funds successfully on 5th and at the morning on 6th August. But they closed my withdraw option on 6th August night https://prnt.sc/tw4upr https://prnt.sc/tw4uv1 After their support's Email, I replied back right away but till now more than 27 hours they got nothing for reply me. Sure, because they already knew that they are wrong by forcing me do the KYC again when I already did it long time ago. It occurred on: 7/08/2020 https://prnt.sc/tw4v32 https://prnt.sc/tw4v93 It made me really frustrated and it affects to my work. I need my funds to my Skrill so I can continue working as usual. My Betfair's email: [email protected] Telephone account number (TAN): HP653737 Yours faithfully, Hai Pham
When you press play button on 1£ steak you win 40p and lose 60p, and you got some dopamine boost in your brain together with nice music and beautiful graphics and you got some pleasure which is fake and everything is illusion, they want you to feel like a winner and want you to feel very comfortable, one game can have up to 400 melodies to make you excited, probably you got it, they want you to become addicted, recently you saw a lot of ads online and tv and you are wondering why? First of all it’s money business and everyone takes their share, game provides, casinos and the government, at the moment they said that problem gamblers make around 15-20% of the income in the industry, so does it needs to reach 50% to do something about it? Or not? When it’s proven that gambling is highly addictive many times and makes a lot of harm people losing everything, their partners, money, friends and relationships their homes even lives they still support this harmful activity and pretending like they doing something to stop vulnerable players. You are still wondering why? The player can use self exclusion but still can open new account with another casino, when you try blocking software there is always a way to disable it, recently almost all banks introduced block to gambling transactions but guess what you still can unblock that option few hours later and play, also you can use paypal even if your bank account is empty or blocked for gambling transactions that's how people get drowned into big debts up to 150000£ in a single day. That’s because there is another team member who wants your money yes you’re right the bank. When you lose everything you will borrow money from the bank and then you pay interest, so very nice circle( the government and the bank don’t care which casino you’re playing with as long as you play) but it can be even worse there are so many illegal casinos hiding under gambling commission license for example Betfair this is multi country company but as you can see they are not allowed to operate in France,Germany, Belgium, Canada, Portugal, Turkey, Japan, China and many more, but they do in UK and if you do a little research you can see how many people got scammed by this company, one report says: Online casinos, often take advantage of the lack of supervision and inspection from law and gambling authorities and take the money of their customers with unfair games. Very recently it was reported that in RNG roulette at Betfair online casino, number 18 appeared 11 consecutive times! The actual probability of this happening is one of trillion of spins! Yet the casinos can claim that “every 11 spin sequence is equally probable with any other” so nothing wrong with hitting 11 times back to back. Another player got football bet and while his team was winning at 80 min of the game he wanted to cash out, but the option was greyed out, and 89 min the match was draw and he lost 800£. And not just this Casino but many more around the word playing with RTP (Return to Player) so they can increase their share and even can go as low a 0% RTP yes probably you don’t believe me but this is the reality. Another player reported: “I just span approx 2500 spins on the Bonanza slot on various stakes from 2-20£ spending over 5000£… In all these spins I did not get ANY bonuses at all. I played at I believe a well known casino but think there is a glitch/error with the slot so the bonus can’t land. So do you believe that actually there is a problem with the slot or something else? Probably you can guess low or non existent RTP, and you still believe that you can get some nice and real win? Another player reported at askgamblers that when she was playing her favourite slot she hit the bonus round and won 5k from free spins but suddenly as soon as she go the the home page there was nothing no wins at all, then she contacted the support and they said there nothing on their side cant see that she actually won, so do you think that there was a glitch with the slot? Also another player reported that after winning around 7k and request the money his account was blocked even he was fully verified, then the casino said that their technical team discovered that there was problem with his account on multiple locations IP address, but the player said that this was not the case that he is the only one using the account from his mobile device and nobody else, case closed in favour of the casino and he lost 7k. Nothing in this life is perfect and do not believe anything you can see or hear, there is much more behind that you as a player can’t see, another player said trough the years(5 years) I spent nearly 30k and never won more then 500£ for few times. The biggest problem is money chasing even if you say you’re not chasing actually you do that’s why you always coming back, just remember the money you lost will never come back with gambling the only way is to work hard, and avoid everything about gambling, this is the biggest evil in the world, even on basic games you play on your phone a lot of times you can see similar things how the game is asking you to pick from the 3 boxes and you always got the lowest, no matter which box you choose. Stay positive about life and enjoy being with your loved ones, spend your time and money on things that make you happy, you don’t have to struggle and stress and live on the edge because everything is in you mind.
FanDuel not honouring bet that would have paid $82k due to 'pricing error'
Article here For one New Jersey bettor, the Denver Broncos were a long shot too good to be true. New Jersey bookmaker FanDuel declined to honor a $110 bet on the Broncos on Sunday that would have paid more than $82,000, due to an error in the oddsmaking process, the company said. "The wager in question involved an obvious pricing error inadvertently generated by our in-game pricing system," a FanDuel spokesperson said in a statement. The bettor, who identified himself to News 12 New Jersey as Anthony Prince, placed the wager over the counter at the sportsbook at the Meadowlands Racetrack with Denver trailing the Oakland Raiders 19-17 late in the fourth quarter. After quarterback Case Keenum completed a pass down to the Oakland 18-yard line, putting the Broncos in comfortable field goal range, FanDuel attempted to update the live betting odds to reflect Denver as a -600 favorite. However, according to the company, an error in the live-odds feed caused the Broncos to be posted as 750-1 (+75,000) underdogs to win the game. Prince went to the counter, bet on the Broncos at the erroneous 750-1 odds and received a ticket that showed a potential payout of $82,610. At the correct odds of -600, he would have won a net $18.35. Denver kicker Brandon McManus hit the 36-yard winning field goal with 10 seconds to play, giving the Broncos a 20-17 win, but when Prince went to the counter, he was told the bet would not be paid out at the 750-1 odds. FanDuel instead offered to pay him around $500 and give him tickets to three New York Giants games. Prince declined to take FanDuel's offer and told News 12 New Jersey that he planned to hire an attorney. "They said their system had a glitch in it and they're not obligated to pay for glitches," Prince told the TV station. "A small number of bets were made at the erroneous price over an 18 second period," FanDuel said. "We honored all such bets on the Broncos to win the game at the accurate market price in accordance with our house rules and industry practice, which specifically address such obvious pricing errors. We have reached out to all impacted customers and apologized for the error." The New Jersey Division of Gaming Enforcement is investigating the matter. The sports betting regulations that are in place in New Jersey state: "A wagering operator shall not unilaterally rescind any wager ... without the prior approval of the Division." FanDuel's house rules, however, state that "where a blatant or palpable error is made in offers made, prices offered or bets accepted or in the transmission of any event on which we have purported to offer Live Betting, bets may be settled at the correct price at the time at which the bet was placed, as determined by FanDuel Sportsbook." Other jurisdictions with legal betting handle the issue differently. In Nevada, mistakes in the odds are not uncommon and can occur multiple times a month at sportsbooks. If a similar dispute happened in Nevada, the bookmaker would be required to contact the Gaming Control Board in order to investigate the matter. Some Nevada books have paid off bets that were placed on bad odds but then refused to take action from the bettors who took advantage of the mistakes in the future. In the United Kingdom, where FanDuel owner Paddy Power-Betfair has operated for decades, mistakes in the odds are called palpable errors or "palps" and generally result in voiding the bet.
Global Casino and Gaming Market by Top Key players: Caesars Entertainment, Galaxy Entertainment, Las Vegas Sands, MGM Resorts, SJM Holdings, 888 Holdings
Global Casino and Gaming Market Research (2015-2019) and Future Forecast (2020-2025)
This report focuses on global Casino and Gaming status, future forecast, growth opportunity, key market, and key players. The study objectives are to present the Casino and Gaming development in the United States, Europe, anhd China. In 2018, the global Casino and Gaming market size was million US$ and it is expected to reach million US$ by the end of 2025, with a CAGR of during 2019-2025. The report also summarizes the various types of Casino and Gaming market. Factors that influence the market growth of particular product category type and market status for it. A detailed study of the Casino and Gaming Market has been done to understand the various applications of the usage and features of the product. Readers looking for scope of growth with respect to product categories can get all the desired information over here, along with supporting figures and facts. Get sample copy of this report@https://www.lexisbusinessinsights.com/request-sample-56956 Top Key players: Caesars Entertainment, Galaxy Entertainment, Las Vegas Sands, MGM Resorts, SJM Holdings, 888 Holdings, Betfair Online Casino Games, Boyd Gaming Casino and Gaming Market: Regional Segment Analysis. This report provides pin-point analysis for changing competitive dynamics. It offers a forward-looking perspective on different factors driving or limiting market growth. It provides a five-year forecast assessed based on how the Casino and Gaming Market is predicted to grow. It helps in understanding the key product segments and their future and helps in making informed business decisions by having complete insights of market and by making an in-depth analysis of market segments. Key questions answered in the report include: What will the market size and the growth rate be in 2026? What are the key factors driving the Global Casino and Gaming Market? 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TABLE OF CONTENT: 1 Report Overview 2 Global Growth Trends 3 Market Share by Key Players 4 Breakdown Data by Type and Application 5 United States 6 Europe 7 China 8 Japan 9 Southeast Asia 10 India 11 Central & South America 12 International Players Profiles 13 Market Forecast 2019-2025 14 Analyst’s Viewpoints/Conclusions 15 Appendix Get Complete Brochure @https://www.lexisbusinessinsights.com/request-sample-56956 About Us: Statistical surveying reports is a solitary goal for all the business, organization and nation reports. We highlight a huge archive of most recent industry reports, driving and specialty organization profiles, and market measurements discharged by rumored private distributors and open associations. Statistical surveying Store is the far-reaching gathering of market knowledge items and administrations accessible on air. 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I originally intended to send this letter to the moderation team directly. However, after expressing my concerns to two /poker moderators, I was encouraged by anonymous7, our great forum leader, to post my feelings publicly to the forum rather than privately to the mod team so as to foster "open discussion about the state of the moderation team."
You and I clearly do not see eye to eye on many issues. I would like to work on improving our relationship. In order to do so, I think we need to address a few issues.
With regard to "the recent history with your site" comment you made when removing a post I made comparing the rake schedules on a number of online poker sites, I can only assume that you are referring to Full Flush PokeEquity Poker Network and their recent failiure as a company. I'm not sure what devilish things you think I am guilty of, but there is quite a bit of misinformation floating about on various Internet poker forums. It seems as if you have read this information and bought it all hook line and sinker. I would like to offer additional information in hopes of changing your perspective on the matter.
Were you aware that I have helped at least 3 investigative reporters by providing them with information for their investigations regarding Equity Network?
Are you aware that the people involved in that rediculous scam site player-protect, after talking all that unsubstantiated madness about myself and my company, are now trying to get me to join with them and add our losses to their lawsuit?
Were you aware that I suffered losses on Full Flush or did you buy the BS on the Internet that we were in on some conspiracy to steal money from our loyal customers?
Were you aware that we have been investigating Full Flush ourselves and intend to publish information that we've found?
Are you aware that disclosing all of one's information publicly, while under threat of lawsuit, and while active investigations are ongoing is a terrible tactic?
Are you aware that in recent years we've helped sites locate DDOS attackers and stop them?
Are you aware that I personally paid the person who kept public record of Lock Poker's player debts on 2+2 and that we regularly took Lock to task? (I never once endorsed or worked with Lock Poker)
Were you aware that I provided information to Interpol to aid in their investigation of Jennifer Larson and Co?
Were you aware that our website has only backed two failed rooms in the near 11 years we've been online? Full Flush being the second one.
Were you aware that any site promoted on our website is a site that I personally have money at risk on as a player, an affiliate, and as a staker?
Were you aware that we have dropped numerous rooms in the past long before they went defunct (ex UB, AP, Cake).
Are you aware that I report real spam posts every time I see them in this forum? (ex: Hindi poker site posts, topless "need a friend posts", etc)
You condemn me for being evil, but I help people on this forum every day. On many forums for that matter. I am frequently thanked here and elsewhere. In fact as of Feb 14th, the most recent 100 "comment replies" the word 'thank" has been uttered 13 times in direct response to my posts. A pretty good ratio on a downvote and troll happy board such as /poker don't you think?
I also easily comply with the 10:1 ratio of self promotion. Contrary to some of your prior accusations, I do not reply with "one word answers" intended to inflate my post count. In fact, I devised a little experiment to prove this. I copied both mine and your last 100 posts to /poker as of Feb 6th when I started writing this letter. I removed everything but the actual responses and numbered them (files available for review to anyone who wants them). Let's take a look at my metrics versus yours over the last 100 posts to /poker shall we?
Perhaps you think my website promotes "shady" and "unsafe" sites? I disagree wholeheartedly. I reject each and every site I'm unwilling to risk my own funds on. Here's a full list of sites we work with: 888, PokerStars, PartyPoker, Unibet, Betfair, Full Tilt, Bovada, Bodog, Ignition, America's Cardroom, Black Chip, True Poker, Ya Poker (you may not know this one, it is directly owned by ACR), BetOnline, Sportsbetting.ag, TigerGaming, SWCPoker, Grand Poker, Intertops, Juicy Stakes
You will note none of those crazy "play money" Iranian, Israeli, Asian poker sites are in that list. I do not find them worthy of risking my own money on, and thus I do not offer them to our clients. Period.
Since 2006 when we opened my website, we have had TWO poker sites fail that we promoted. Full Flush, and PokesPoker. They are separated in failure by 10 years. There were over 70 poker sites that failed during that time period. I think we have a good record for keeping our players away from crappy and terribly unsafe poker sites.
The Wiki [Editor's Note: This was part of a prior letter I wrote and wish to include it here as well] Nearly 9 months ago when all of the controversy about the wiki was going on and right after TOR became a moderator, the decision was made to make the wiki only modifiable by moderators. I understand conflict of interest was the main rationale. I was also told that: "Mods believe they have the time to use the wiki in a better way than it is being used right now."
This has proved utterly false. When I was editing the wiki (and I was the main editor for a year or so), I updated it 1-4 times per month as needed. In the nearly 8 months since the wiki was taken over by moderators, it has been edited two times. The first was to remove "affiliate influence and bias." The second was done less than a month ago to update Bovada to Ignition poker, a major event which had taken place a full 3 months prior to the edit).
In taking a quick glance over the wiki I saw over a dozen things that need to be updated. However, this is not being done. Mods are not keeping the wiki up to date and it is providing false and out of date information to readers of /poker.
I was also told that:
"Mods believe they can source discounts themselves, and due to non expectation of benefit for them sourcing it can get better deals than affiliates can."
This has also not happened. Not a single deal has been sourced. In fact, things are worse. A deal that gave out thousands of free dollars to poker subscribers was scrapped and never replaced. I fail to see the benefit to the forum in removing free money for subscribers. Other moderators agreed with me and wanted to keep the program live, but were seemingly overruled.
I will admit that I was not perfect and that some things could have been handled differently in the wiki, but in the last year I edited the Wiki and the FAQ, after ground rules were set, I always sought moderator approval for changes I thought might be controversial (DaLonelyBaptist/ can confirm this). I also strived to keep the Wiki as up to date as my time would allow, which turns out to be at least 15x more frequently than it is currently being updated.
I believe that much of this stems from Touch_Of_Red 's dislike for me. I think he seeks to punish me, "the evil spammer," for some perceived harm he has suffered. I do not think I am what he claims me to be. I constantly help players with issues on this forum, 2+2, CardsChat, and other smaller forums. I receive thanks quite often and I have NEVER been banned from any forum for spamming because I adhere to the stated rules of all forums I participate in.
I do not think it is fair to reduce knowledge and opportunity for /poker subscribers simply to punish me because TOR doesn't care for me. I think that if the Wiki rules were reset to what they were prior to TOR becoming a mod, that I could do an even better job of updating the wiki than before. In fact, I've learned a little bit of reddit coding and I feel that I can improve the format of the wiki as well as keeping it up to date, useful, and providing added value to the subscribers of poker.
Thanks for your time and thoughtful consideration. I hope that we can improve our relationship and come to some mutual understanding, Prof
EDIT: To the people who still continue to bang the drum that I owned Full Flush Poker, in full, or in part, that is simply untrue. If you want to know who the owners are, look here: http://forumserver.twoplustwo.com/showpost.php?p=51452632&postcount=2282 . Were things misrepresented to me and did I believe it? It appears the sad truth is, yes. As I said above, I'm going to help anyone who gets in contact with me and lets me know how much they lost. I'm on track to have some sort of public offer up within the next two weeks fingers crossed if I can get more poker sites on board.
Digitex To Launch Commission-Free Bitcoin Futures Trading With Zero Transaction Fees
Providence, Seychelles: Today, Digitex Ltd, announced plans to launch a cryptocurrency futures exchange where traders can buy and sell futures contracts on Bitcoin, Ethereum and Litecoin with no trading fees. Commission-free trading is made possible by the creation of the exchange’s own cryptocurrency, called the DGTX token, in which all trading profits and losses on the exchange are denominated. Traders must therefore own DGTX tokens to participate, and Digitex eliminates transaction fees on trades and covers the costs of running the exchange by minting and selling a small number of new DGTX tokens each year. The DGTX Token Sale starts on January 15th, 2018, when 700 million DGTX tokens will be sold to the public at $0.01 per token. As a former pit trader at LIFFE and also one of Betfair.com’s most successful sports traders ever, Digitex Founder & CEO Adam Todd said, “For years I dreamed of trading on a commission-free futures exchange where I could pursue high volume, ultra short term trading strategies without getting killed by transaction fees. Finally, blockchain technology has turned that dream into a reality. Removing the constraints of trading fees will quickly create highly liquid futures markets where traders of all sizes can compete on a level playing field. For short term scalpers like myself this is huge, it’s a complete game changer for how people will trade cryptocurrency futures.” Some key features and benefits of the Digitex Futures Exchange and its native currency, the DGTX token:
There are no trading fees of any kind on the Digitex Futures Exchange.
Digitex uses its own cryptocurrency, called the DGTX token, as the native currency of the Digitex Futures Exchange.
Your account balance on the Digitex Futures Exchange is denominated in DGTX tokens, your margin requirements are payable in DGTX tokens and all your trading profits and losses are in DGTX tokens.
Your account balance of DGTX tokens is held by an independent, decentralized smart contract on the Ethereum blockchain, not by Digitex.
Digitex eliminates transaction fees on trades and covers operational costs by creating and selling a small number of new DGTX tokens each year.
All new token issuance events are initiated and approved by DGTX owners through a democratic system of Decentralized Governance by Blockchain.
The demand for DGTX tokens from thousands of traders who must own them to participate in commission-free futures trading will easily absorb the small number of new tokens that are created to cover costs.
Bitcoin, Ethereum and Litecoin futures markets on Digitex will be open 24 hours a day, 7 days a week.
Traders want to trade on the Digitex Futures Exchange because there are no trading fees and decentralized account balances.
There will be an initial supply of one billion DGTX tokens (1,000,000,000 DGTX).
On January 15th, 700 million DGTX tokens will be sold to the public at a price of USD $0.01 per token (1 DGTX = $0.01).
The DGTX token sale will stay open until February 15th or until all 700 million tokens have been sold, whichever comes first.
If there are any unsold DGTX tokens at the end of the token sale on February 15th, they will be burned to increase the value of the DGTX tokens that were bought.
When the commission-free Digitex Futures Exchange becomes popular, demand from thousands of traders who must own DGTX tokens to participate will drive the price of DGTX considerably higher than its launch price of $0.01.
If you feel you missed out on the Bitcoin boom, DGTX is a great opportunity to get involved in a brand new cryptocurrency that has real world utility, at its rock bottom launch price of only one cent.
About Digitex Ltd: Digitex Ltd is an International Business Company (IBC) located in the Republic of Seychelles. Founded by a former futures trader and betting exchange trader, Digitex has developed a revolutionary new token issuance revenue model for sustainably operating a futures exchange without charging any transaction fees on trades. For more information or to arrange an interview, please contact Adam Todd at [email protected]
[need advice] professional sportsbetter with a msc degree in finance is looking for career advice
hi all, I am a male, 29, living in europe, I have a Msc in finance with 0 real work experience. During my bsc education in university I played poker for a living and I did this also 2 years after finishing my bsc. Then I left online poker, I didnt see myself play cards for the next 50 years and I started a msc in finance, finished it and wrote a thesis on human irrational behaviour with data I scraped from the sportsbetting exchange betfair.com. I found some biases in the betting markets and developed strategies which should on paper make money by exploing those biases. I decided to invest some money in it, to try my strategies with real money, now 4 years later, I made +- 500-600k US$. Currently I have a lot of my transactions automated, so my time is now more in tweaking my automated system. There are drawbacks: I am a social guy, and it is sometimes hard to be alone during the day. I have a loving family and a gf and nice friends. But still, it feels kind of lonely to crunch numbers during the day and have almost no contact with other people. second: I have had some succes, but that is no guarantee it will sustain in the future, sports betting markets might get more efficient; I might lose my edge. third: it does not matter how sophisticated my models are, the average person will see me as a "degenerate gambler". And I am not getting younger, I am almost 30 with no "relevant work experience". I have registered for the CFA level 1 exam in June and I am studying this now for a few hours a day. Do you people have any advice for me? Should I stop complaining and just keep betting the sports betting markets? or would you recommend me to look for a finance job in this hard economy and do you have some advice for my situation?
(Medium) A who's who of the London Co-Investment Fund ecosystem.
Here's a post on the London Co-Investment Fund, that I wrote over at Medium. To avoid being BlogSpam, have posted the entire text. Here. No need to leave Reddit! Feedback appreciated.
#TeamLCIF: Getting London VCs Moving
A who’s who in the London Co-Investment Fund ecosystem
European startups often whine about the lack of seed capital they can tap into. Sure, there are hundreds of venture capitalists in London, but let’s face it, London’s not “the Valley”. The typical experience for entrepreneurs is a meeting with an ex-banker or consultant who’s never worked in a startup. The VC asks for metrics and proof of traction and the entrepreneur is deflated that the VC doesn’t buy into their vision. The inevitable conclusion is that the startup is too early stage for them. The entrepreneur goes home, disappointed and slates the VC to his startup buddies. “Grow up”, I say. Don’t blame the VCs. They are custodians of other people’s money. It isn’t “the Valley” where hundreds of people have created billions of dollars of wealth, and are now pouring it back into the next generation of entrepreneurs. You can reel off Europe’s big success stories in an instant. They include: ARM, Autonomy, Betfair, Iliad, Just-Eat, MySQL, Ocado, SAP, Skype, and TomTom, and Waze. Not much else.
Filling the Vacuum
The crunch point for startups seems to be at the seed level. But there are a few avenues for entrepreneurs to pursue. Foremost is the collective of accelerators in London, who’ll give a startup the ability to run on fumes. Notable firms include: Seedcamp, Startupbootcamp, Techstars and Wayra. As good as Seedcamp and the accelerators are, they are not silver bullets. First time entrepreneurs need their own source of funding. Typically from friends and family. If you don’t have the self-belief to tap your own network, then you’ll probably find that others won’t have the belief in you either. Perception is almost as important as reality.
The Unsung Hero
In this “tough” environment, there is an unsung hero for early stage start-ups. It’s the London Co-Investment Fund. And shockingly, it’s got little mainstream press. Imagine a £25m fund explicitly designed to help early stage businesses in London, backed by the London Mayor’s Office, working with 10 of London’s best early stage investors. It’s not too good to be true. But it is complicated, though not in a bad way. It all started six years ago, when John Spindler persuaded the European Union & the London Mayor’s office to back Capital Enterprise, an organisation bringing all the universities, accelerators and VCs of London together. Next, he launched the Capital Accelerator Program in 2013, which has paid for staff at London VC firms and helped over 130 startups raise money. CAP has injected both dynamism into London’s VC community and paid for additional resources to vet and support early stage start-ups. But increasing the resources and expertise at London’s VCs was never going to be enough. Thus the creation of the London Co-Investment Fund in partnership with Funding London. In December 2014, after 18 months of negotiation, Boris Johnson took to the stage at City Hall to announce the investment of the city’s money in the fund. Now, London based startups can get a significant boost to their funding by getting the London Co-Investment Fund to invest in them alongside one of the founding VC partners. Roll forward to September 2015, just 10 months later, and 25 businesses have received funding. That’s more than any single early stage VC firm in London. Note, these startups have successfully raised a total of £18 million, with the London Co-Investment Fund contributing £3.5 million.
What’s the Catch?
Yes, there are multiple catches and complications, but none should deter you from wanting to play a part in the London Co-Investment Fund’s eco-system. Firstly, the fund doesn’t exist as a stand alone entity. It was co-founded by John Spindler’s Capital Enterprise and Maggie Rodriguez-Piza’s Funding London. Capital Enterprise review all the applications and Funding London manages the actual fund. On a day-to-day basis, Puneet Raj Bhatia is the man in charge. Secondly, it’s a co-investment fund. If one of the 10 VC partners isn’t interested in your start-up, then the London Co-Investment Fund can’t play. Why? The fund are custodians of government money. So they have to leave the business negotiation to the VCs. It’s what protects us all from falling foul of the EU’s state-subsidy rules. Thirdly, it’s government money. So the Greater London Authority needs to know what’s happening, i.e. they have information rights. And top of their agenda is seeing job creation in London. Fourth, the London Co-Investment Fund takes 25% of any fundraising. The whole aim of the fund is to encourage private investment in London based start-ups. Private money must take the lead, rightly so. Remember, the first 25 start-ups have raised a total of £18m, with £14.5m coming from the VC partners and £3.5m from the fund. Finally, bring your own money to the table. If you don’t have friends and family or a group of angels willing to be the first 25%+ of your fund raise, then you are probably dreaming. Yes, as a first time entrepreneur, you are dreaming and wasting your time.
Getting into the eco-system
So there are two gatekeepers: Capital Enterprise and the VCs. To get to Capital Enterprise, you need to fill in the online application form. Then John and his colleagues, Rosa Glover and Sia Georgieva will get back to you with feedback. If you’re the right fit, you get invited to join their “Green Light Programme”. That’s a weekly mentoring evening over 8 weeks, where you meet with the different VCs and the other illuminati of the London VC community. For example, Mike Butcher of TechCrunch gave a brilliant talk on how to interact with journalists. Getting to the VCs can be via the Greenlight Programme or you can go direct. To some extent, meeting the VCs on your own, may be a plus. That way you stand out. You’re a a startup they know independent of the London Co-Investment Fund.
The Trailblazers
So who are the VCs and what investments have they done with the London Co-Investment Fund already? Back in December 2014, 5 VCs joined the eco-system: AngelLabs; Crowdcube; Firestartr; London Business Angels; and Playfair Capital. Yes, yes, Crowdcube isn’t a VC, I know. Though a couple of the other partners aren’t traditional VCs either. They’re more like angel networks.
AngelLabs
AngelLabs is a vehicle for over 30 angel investors, pooling their resources together to source deals. Andrew Fullerton, Kevin Chong and Maria Dramalioti-Taylor run the show. They vet the deals and present them to their angels. It’s an a la carte arrangement. With 29 companies in the portfolio today, the Lab is working well! Since joining the eco-system, AngelLab has co-invested in 4 startups with the London Co-Investment Fund, including Chaser & We Now Comply. Both are B2B businesses, though AngelLabs doesn’t have a narrow remit.
Crowdcube
Crowdcube’s the UK’s leader in crowdfunding having over 200,000 investors on it’s books, and having raised over £100m for 300 companies. Stuart Nicol leads the team that vet’s the London Co-Investment Fund deals. To date five deals have successfully raised funds via Crowdcube, including Chirp, Droplet, Gamesgrabr, Powervault & Shoot Gardening. Clearly the range of investments is broad, but there is one common theme, are they businesses that the “crowd” can connect with emotionally. So complex technology and B2B businesses are less obvious for this partner.
Firestartr
Firestartr has 20 startups in its portfolio today. Axel Wehr is the Principal from Firestartr that you’re most likely to meet at any of the fund’s events. Like the other partners, Firestartr doesn’t have a formal fund structure but has a network of angels and investors that back their deals. To date, Firestartr’s co-invested in 5 startups with the London Co-Investment Fund, including Tritto, Urban Massage & We Are Colony. Here you can see a “platform” theme.
London Business Angels
London Business Angels has been going for over 30 years and has one of the largest networks of angel investors in the UK. With the London Co-Investment Fund, they’ve backed 9 companies including Captive Media, Desktop Genetics, FlatClub, LaSalle Education, & Step Jockey. This puts them out in front, as the leading partner for the fund. A position they can probably maintain if they remain interested in a broad range of start-ups.
Playfair Capital
Playfair Capital are the cool kids of the eco-system. Based at Warner Yard they rub shoulders with TechStars and it’s UK cohort. The whole setup has the same energy as Passion Capital’s White Bear Yard. Both eco-systems in their own right. Taking the glass elevator to the “investors floor”, overlooking the startups below, is a slightly unnerving experience. Though the smile of Playfair’s Joe Charlesworth and relaxed style of Fede Pirzio-Biroli immediately put any jitters to rest. As the firm’s name implies, they are on your side, easy to work with and startup friendly. With the London Co-Investment Fund they’ve co-invested in Dojo & Pronto Technology. Both are B2C firms, though Playfair has plenty of B2B and B2B2C startups in it’s 30+ portfolio.
Swelling the Ranks
This September, the eco-system doubled in size. Five new VCs joined the fund’s ecosystem: Craigie Capital; Downing Ventures; EC1 Capital; Forward Partners, and; Seedcamp. Imagine, one application form getting you on the fast track with 10 of London’s best early stage VCs?
Craigie Capital
Alasdair McPherson is the point man for Craigie Capital. An angel investor in his own right, Alasdair’s got a love for fintech. He’s regularly seen mentoring at Barclays Techstar and Startupbootcamp. Though the team at Craigie Capital isn’t focused on fintech. They are fans of B2B models including SaaS, Big Data, Security and plays on regulatory change.
Downing Ventures
Downing Ventures is a part of Downing LLP who manage a number of Venture Capital Trusts, Enterprise Investment Schemes, OEICs, and other financial vehicles. Matt Penneycard is the point man. With 20 startups in their portfolio today, there isn’t a narrow focus with both B2C and B2B plays welcome.
EC1 Capital
Like many of the other partners, EC1 works with a network of angels to fund their deals. Yannick Roux is the point man. In 3 years they’ve funded over 20 companies at the seed level. The portfolio has a broad make up.
Forward Partners
Forward Partners’ founder, Nic Brisbourne has been a VC in London since before the dotcom boom & bust. He’s got one of the more thoughtful blogs in the UK’s venture community. But unlike the other partners, Forward is not a generalist. They focus on ecommerce companies and have a dedicated team that help the 30 companies they’ve backed scale.
Seedcamp
You’d have to be disconnected from the Internet to not have heard of Seedcamp. Carlos and Reshma have been running his accelerator since 2007. They are well connected to Index Ventures and other large venture firms. Seedcamp’s backed over 200 start-ups with cash and they’ve mentored thousands more. If you’ve not applied to Seedcamp Week, even to get exposure to their army of mentors, you are doing your startup a disservice. But the obvious question is, why does Seedcamp want to join the London Co-Investment Fund’s eco-system? Simple, they’ve now got a €20 million fund. Their model has evolved. Seedcamp is no longer just an accelerator getting startups off the ground. They don’t have to hand over the baton to their VC partners anymore. The teams they back in their accelerator can grow with Seedcamp through the Seed round, and possible beyond. Working with the London Co-Investment Fund is a good way for Seedcamp to put some of its new €20m fund to work. Tom Wilson’s the point man.
Who’s Missing?
There are a number of obvious VCs that are not in the eco-system: Accel; Amadeus; Balderton; DN; Index Ventures, Notion; Octopus; Passion; ProFounders, and; WhiteStar; come to mind. Then there are the crowdfunding platforms Seedrs and Syndicate Room. Why? As far as I can tell it’s a combination of three factors. Firstly, many of these VCs have access to the deal flow themselves. No founder ignores them and should try to pitch them directly. They are well staffed and can deal with the volume. As such, they just don’t need the London Co-Investment Fund to act as a gatekeeper and co-funder. Secondly, they are structured as funds, with committed capital, often running to the hundreds of millions of dollars. They lead investments themselves. There isn’t any need to have someone else’s money in the deal, especially government money, benign as that money may be. And finally, seed rounds are the exception, not the rule for these firms. Face it, if you’ve $100m to invest a year, do you want to write twenty cheques of $5m or two hundred cheques of $500k. Which model is more scalable?
Making a Difference
The London Co-Investment Fund has been operational for ten months. Over 700 start-ups have applied to the programme. Half of those start-ups contacted the fund directly. Half came via the VC partners. The fund is already making a valuable impact with the fund already backing 25 startups. It’s no wonder the eco-system has just doubled in size. While the UK press are out chasing unicorns, London’s startup community is starting to notice an important change. Local government isn’t just talking about London’s tech cluster. It’s putting money to work. The goal for the Mayor’s office is to back 150 startups over 3 years, via the London Co-Investment Fund, creating up to 2,600 new jobs. That’s one investment a week. So what are you waiting for. Click here and get your startup into the London Co-Investment Fund’s ecosystem. We did and we couldn’t be happier.
In the last ten to twenty years there has been an increased push to rehome and retrain as many horses as we as a sport can. I personally try to rehome every horse that leaves the yard to a good home, provided the owner is willing and doesn't want to keep it themselves. I wouldn't say that selling horses, particularly race horses, for slaughter is common practise here. I haven't encountered any instances personally. Horses are frequently run aged two or three in this country as well however I think it's wise to mention that while they do work hard it is not in our or the horses interest to overwork or break them down. In our yard if a young horse is showing signs of struggling we will ease off and give them time.
Oh yeah. They are clever bastards. You can often tell when it's time to retire a horse from racing because instead of carrying on the race when they get round the course and near to the stables they will try and pull up.
This website is run by the governing body of racing and has lots of good information on racecourse and fixtures.
Once you have decided on where you want to go I suggest visiting some of the individual racecourses website as they are much more detailed. If you are visiting London during summer I do suggest going to Windsor they do fantastic evening racing, generally on a Monday night where you can get to the racecourse on a boat that comes up the River Thames. Cool huh?
Horse racing as a sport happens all year round however some elements of it are indeed seasonal.
For example Flat racing is predominately held over Summer, this is because these horses are generally smaller and appreciate 'faster' (read harder) ground.
During Winter we get most of the National Hunt meetings. National Hunt is the full name for jumps racing. Generally speaking horses are larger and as such need softer ground to prevent injuries and slow them down.
Horse racing is a fun and enjoyable pastime. It's great to get a lot of people together and go and have a few drinks and a couple of bets on horses, it really is exciting when there is money on it. It's a good fun day out and provided you budget like any other day out, it doesn't have to be really expensive either.
Welfare is a tough question to answer briefly but I will give it a shot and if their is more interest I can write up a larger response. I personally feel that the majority of trainers provide a very high level of welfare for their horses. We really do love the animals regardless of what people may say. Racehorses get treated especially well, better than most horses kept just for riding I would argue. We are incredibly strictly regulated on animal welfare issues and the punishments are severe for the very few people who do break the rules.
I personally am not a huge gambler, I have a little flutter every now and then but for the most part It don't gamble. I have not ever seen someone ruin their lives through betting but that's not to say it doesn't happen I'm sure.
It's to make them go faster, it causes the horse no damage and Jockeys are carefully regulated. Limits are set in place for how much a whip can be used and bans and fines for excessive use are common.
Horses are big animals and the whip is primarily a correctional tool, they are trained to respond to it and it's used to keep them under control. Most schools of equestrianism use the whip in some form.
Horse racing is the second most attended sport in the UK, we also hold something like 6 of the highest 10 sporting fixtures in the UK each year. However the average age of the racegoer is getting higher and higher, at a higher level than I there must be a push to encourage a younger audience to attend racing. Racing in this country is coming under attack from decreasing in funding by the betting industry. Every year we receive less money to go towards prize money and such due to an archiac system called the Levy which is supposed to provided the sport with a proportion of bookmakers profits. Improvements look to be being made in this are as the Government, I believe, is pushing to regulate the betting industry differently allowing online betting in particular to be properly taxed and the money collected. It's tough for trainers right now. There aren't as many trainers around than there were in 2007. The recession hit us hard as unsurprisingly the first cost most people shed was a racehorse in training. Ultimately though the situation does start to look like its improving, people are buying horses again and yards are starting to be a bit larger each year. The next one to look out for is China. Racing is becoming very popular there and gambling isn't even legal on mainland china. If China liberalises at the rate it has been it may only be a few years before they regulate the betting industry and everything really kicks off.
Our top flight horses travel all over the world to contest titles. This is called "raiding" and foreigners come to England to do it too! The Breeders Cup is something every trainer wants to win. As for the Middle East the main draw is the money. It is insane. Next Saturday is the Dubai World Cup held at Meydan. They built this huge racing complex way out in the desert and hold loads of expensive racing at night to avoid the heat. Pretty surreal compared to here. I don't know of any South American horses running under rules and I'm not certain why they wouldn't. I suppose they don't have any good enough to warrant the expense of travelling over.
Racing is held all over the UK Some of the most popular meetings are Royal Ascot, the Derby Meeting at Epsom and Glorious Goodwood on the Flat. Thousands of people attend these three or four day long meetings every year and it's really quite a sight!
Over the Jumps the most popular are the Cheltenham Festival and the Grand National meeting at Aintree in Liverpool. The Cheltenham Festival is a personal favourite of mine as the atmosphere is truly electric, around 60,000 people attend each day.
Edit: Whoops! Yes meets is a fine phrase. More commonly people will say meetings, fixtures or races.
Your father sounds like a proper horseman. Id like to think I can spot a good one but not nearly as well as my father or my grandfather. It's a skill we all pick up the more we watch.
My favourite to go to as a racegoer would have to be Newbury. The facilities are amazing and the racing is generally of a really high quality both on the flat and over the jumps. Professionally in recent years we have had some success at Plumpton down on the South Coast near Brighton, it's a nice little country course.
Not for my yard no sadly but I would love to come over for some of your racing. Some of my extended family take a few horses out there every now and then. It's every trainers dream to raid a Breeders Cup!
I have no idea to be honest. It's probably very very low, it's a hard thing to pull off and the punishments are very strict. Life long bans and potential criminal prosecution.
A few do attempt it of course, a big ring got taken down a few years ago. It's a shame that this is an issue that press fixate upon really as on a day to day basis you don't even think about it within the Industry.
Not at all! Jockey's are professional sportsmen in a job where if you can't make the weight you can't ride. Some jockey's have to be very light while others can afford to be heavier, it depends on their role as every horse generally requires a different weight based on their handicap rating (A whole other kettle of fish).
Jockeys not only have to be light but have to be incredibly fit and strong. It's really hard work to ride a horse in that style for possibly four miles. Most jockey's I know aren't just good jockeys they are athletes who are proficient at most sports. They really seem to love golf.
It's important to note that during the day most of them work for a trainer as well. They will ride out maybe three or four lots in the morning before going racing sometimes.
Form is the big one. Form over a comparable distance with comparable ground conditions. You can start to make educated guesses each way after that if you start to take in other variables like equipment etc.
I couldn't agree more, going is vitally important however generally speaking when we run a horse on different ground than normal we are hoping it will overcome it.
Headgear is a really useful tool, sometimes they go really well. Other times it has no effect. Sometimes the effects deteriorate over time. Generally if one of mine is wearing head gear for the first time it means we have worked it at home and it's worked really well.
By horse seed do you mean semen? If so in the Thoroughbred Bloodstock Industry Artificial Insemination is banned. Only natural coverings are permitted. Race horses are still crazy expensive though. People can spend millions of pounds on one horse.
As for most gruesome I don't have any really awful ones about horses. We have had some nasty falls and one went through a barbed wire fence once but nothing truly disgusting. Likewise never seen any botched geldings or surgeries. But they do happen, I like to think the vet we use is pretty good so I hope it won't happen anytime soon!
One, limits the number of stock from a single stallion. AI decreases the cost of covering so semen would be more readily available. You would end up with thousands of foal in the same year by the same sire. Thats a quick way to fuck up your bloodlines.
Two, why would they change to it? Now all the selling power is held by those who it would affect most. The studs which own the stallions make millions of pounds a year in coverings, if they saturate (literally in this case) the market they will make loses.
Three, racing is an international sport, if one country did it and no one followed suit very quickly they would find themselves isolated with a horse population that couldn't compete abroad.
Hey man! Hope I can help. Trainers charge the owners of horses a training fee. This is generally a daily charge plus extras . Sometimes it's very hard to make money as a trainer, a lot of people don't turn a profit training racehorses many just do it for the fun and the lifestyle.
Generally breeding, if the mare and stallion are good the horse has a better chance of being good. Ideally you compare the horse to a full sibling however this is rare and you generally end up comparing them to half brothesister on the maternal side.
I think it's a truly impressive spectacle that is the hardest test we throw at our toughest horse and jockey teams. I don't feel it's representative of the day to day life in the racing world however.
Aww come on. G4S as in the men being done for manslaughter? Trust me when I say we hate those hired security at the big meetings more than you do. We normally know the guy on the gate because it's been the same one for maybe twenty years. However at the big meetings they roll out extra staff and they get lost in the crowd somewhere...
Everyone wants their horse to perform at the height of it's ability so it's tough. Hopefully you have owners who understand it's just a patch and that fortune will turn round in the long run.
Yards as a general rule of thumb don't really on prize money to fund themselves, it does however draw in new owners!
The brad and butter is training fees through a daily cost per horse plus extras.
One or two wealthy owners who love the sport and who have three or more horses each are what every yard really needs. These owners are hopefully loyal and will use you year after year, topping up their stock. They are the ones who keep racing afloat.
A lot of the time it's basic riding skills, shortening and quickening stride etc but the real aim is to get them to respond as well to the rider as possible. They have to respond to being asked to quicken or shorten. Ultimately each horse is different and generally the rider changes a lot to suit the horse.
To be perfectly honest by this point I'm just glad I have got them there, it's the jockey's job to make sure he gives them a proper race. If you watch a race you will see the jockey uses his entire body when quickening, they still use their heels as much as they can!
You can see as they come round the corner the jockey is holding his hands in a way that the bit just makes contact with the horse and holds it steady. When they ask them to go faster they break that contact and the horse no longer feel the bit and are physically encouraged by the jockeys movement.
I think that maybe historically that could be the case but less so in this day and age. Nowadays corruption is rare and much easier to detect, staff welfare is very important and they have their own unions which continually lobby for better conditions.
There is a few things that may happen. If the race is far away the horse may travel to the racecourse the night before. This is to allow it to recover to be in best condition as long travel is taxing to the horse.
If it's at home I will give it less bulky feed at it's morning feed. Just high energy protein generally. We will then jump in the box and drive to the racecourse to arrive a few hours before the race. I think travel is a consideration when considering under performing horses.
Most common reasons for underperformance... I'd have to say the ground. If the ground isn't to the liking of the horse it can have a real effect on the way they run the race.
We try to rehome them just as well as the best ones. A lot of owners really care about their horses and take them back for their retirement. If nothing can be done sometimes they have to be put down which is always sad.
My best advice is find your local trainer and offer to work on weekends. They may pay you but they might not. If you're lucky they will give you a chance.
Hey there, I don't really know much about Japanese racing apart from it's got one of the best prize money returns! I think we can learn a lot more from you than you could from us.
They do indeed need to carry more weight. This done in the form of weight plates, these are made of lead and added to a special weight cloth worn under the saddle.
I try to go with as many as I can, either to lead up and groom or to saddle up. Sadly I don't have as much time as I used to but I still make all the effort to go. Especially for my favourites.
Fantastic! I quite frequently go to Fontwell and Plumpton which are both nearby (kinda) haven't raced at Brighton though. I will have to alert the redditors next time I'm there...
Just start to follow racing a little, try and understand how it works. As for books I don't really know anything personally but some people are great fans of the Dick Francis novels which are based round horse racing however I can't say I have read them.
Im yet to have a good racehorse, maybe I could let you know in around 30-40 years? I might find one by then...
But seriously some guys have a really good strategy, Nicky Henderson is always right up there on the Jumps side and Aidan O'brien recently has been incredibly good. I think the trick is to lots of wealthy owners!
Who knows? I doubt Shiekh Mohammed would have actually turned to his trainers and said "Use drugs bro." I would imagine that the environment of pressure he puts on those who work for him is so great they feel like they have no choice.
Sadly not the Gold Cup! I went on Thursday for the World Hurdle and it was a really great day. Cheltenham is one of the best courses in the country and I really love that part of the Cotswolds.
Yeah some are better suited to different kinds of races. Some like to be in front all the way and hate to have other horses compete with them. Other like to slowly build from the rear of the field and then burst forward using their turn of foot. Others just plod along at the same pace and hit the line just right.
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