exotic payouts on betting sites

Racketeer (bookmaker) cannot charge 6 % if he has a tote on the premises.
will close his tote down.


on Turfsport the bookmaker normally inflates the ticket payout with 6%, because Turfsport takes the 6%.

so if your turfsport account printout says 6% more than the amount paid into your bank account, its fine.

how they bamboozle the vat, thats another story, as turfsport now has taken 6% on top of your winnings. 6% that does not exist.

go check the tote rules for the tax rules by bookmakers that have a tote.
debbie hawkins looked it up for me, had the same issue with my bookie..

Thanks for the replies...

Will teach me to read the terms and conditions in the future, not a major issue but could be a serious bankroll killer if your only winning marginal bets.

Have withdrawn and will be moving my account elsewhere.

The 6% tax is applicable on all winning open bets. Hollywood don't deduct the 6% but pay the tax on the punters behalf.

Mr H it is a issue of note.
In Durbs,always been supporting the lady bookie's franchise,which dosnt charge the tax on tote bets.
Few times ive ventured to other bookies and i was taxed.
Obvisously put up a fight,and used her outlets as reference,but was told to 'go take my bets there"
Besides Hollywood and SK,is there any other bookie/franchise that dosnt charge tax on TOTE bets?

thanx

Maybe JasonD can clarify it,but Hollywood did previously not charge 6% on tote bet.

That has however changed now,and if it hasn't I'm certainly due a few refunds from them.

I have just received a call from Clyde @ Hollywood to assure me that they DO NOT charge 6% tax on tote bets.

I therefore assume that it is an error on my part and I would like to thank Hollywood for the service that they provide,@ least they had the decency to call me.

I will of course have to check my payouts just in case there is a small refund due to me which would really help after some of the results lately

No bookmaker can charge 6% on tote bets.
Read the tote rules.
also see the contract rules for bookmakers that have a tote on the site

They are also not allowed to charge for credit card deposits, but some do.
If you cater to an audience of addicts, you can do as you please.