That Approved Betting Partner thingy explained..

Hypothetical question from the floor at the Paddy Power share holders conference..
‘Mr Chairman, are we members of the BHA Approved Betting Partner thingy?’
‘Err, not quite yet, our mates at Betfair gave it a bash, but we’re not sure..’
‘ah, ok, right then. How much does it cost to be a member?’
‘The execs want 5 million in small denomination notes, in a brown envelope left in the toilets at Wiltons’
‘ehm, I see, what do we get for the cash?’
‘Well, let me explain, they say we get to spend another million on sponsoring 4 runner races at Ludlow and so forth, pay for wifi, maybe a betting shop, that kind of thing.’
‘Is that in the 5 million??’
‘Oh, ehm (consults) – no, they just say we get to spend the million. And we get a super G man badge for adding our name to the list.’
‘Anyone famous on the list???’
‘No’
‘Do we get invited to any racetrack parties?!??’
‘No, that’s for toffs not spivs’
‘Well,’ (looks puzzled) ‘~ Do we get a great deal on that Levy thingy when that comes up??!~?’
‘No’
‘I see. Well, why don’t we just take the 6 million in a dividend..?’

Author: Geoff Banks Racing

UK's Leading Independent Bookmaker. We pay our tax and Levy to British Racing as an Approved Betting Partner. And no begging a proper bet here, large or small stakers welcome! Text, phone, APP or website. Private Client Wagering at its best. :) View all posts by Geoff Banks Racing