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Bet 365 are described or referred to as bookmakers. They are nothing of the sort. They never seek to make a book. Their purpose is to recruit punters who Bet 365 know will lose. Denise Coates is the clever girl who worked all this out and has applied computerised IT systems to make it economically possible.
When my account with Bet 365 was closed eighteen years ago the manager in question noted my poor record at Spreadex when he was there employed and was content for me to lose money at Bet 365. In the event, I took Bet 365 for perhaps £50,000. At which point I had a friendly telephone call from Bet 365 and was advised that my account was no more.
They engage in deceitful advertising (“if it interests you it interests us” – a form of flattery but actually just a reassertion that a punter at Bet 365 is categorised and constantly reviewed as a sucker from day one and therefore that punter can declare himself interested in whatever takes his fancy as a betting medium). This causes them to advertise widely to recruit suckers. It’s not very nice.
Even so, HMG has most unwisely tried to influence a citizen’s private thoughts. And, as part of this Big Brother mission, a Nigel Adams, the “sports” minister, wants football clubs to rein back on accepting advertising from the likes of Bet 365. This alleviation of responsibility on the part of the citizen is extraordinarily foolish and patronising. It will end in tears.
In the meantime, one can readily see why Denise Coates does not float her company. For flotation would entail its being scrutinised.
Back at Betfair I myself have had to endure a constant stream of drivel generated in response to the Gambling Commission’s intrusion in effect into my affairs. The stupidity of this enquiry can hardly be believed.
Book review: David Owen’s In Sickness and In Power (£6 on Amazon) was published getting on for fifteen years ago. I only started to dip into it a fortnight ago. It is very well written and so interesting since so many prominent leaders have been seriously ill when in power. Lord Owen provides a devastating analysis of Blair in relation to the 2003 Iraq campaign. Blair suffered (and perhaps still suffers) from hubris and that did it for him. Hubris was of course feared by the ancient Greeks. It’s a mental condition brought on by success.
Yesterday’s BBC Radio 4 featured (1.30 p.m. to 2.00 p.m.) the extraordinary heroism of a lady, Lilo, and her family when resisting the Nazis pursuant to the July 1944 plot to assassinate Hitler.
Finally, I bought Jersey Oil and Gas (LON:JOG) at 143p first thing this morning. It is now 130p offer. I may have missed the point but for a stock that could go over £10, this strikes me as a smooth move.