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VAT - Provision of Gambling Strategies

VAT - Provision of Gambling Strategies

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Hi All, 

I have a client that has come to me with a very new business concept one I have never come across before and therefore unable to find any legislation that this fits into. 

His trade is in his own words

"What l sell is called information products in that l provide information to give gamblers a chance of using different strategies that l created to win at betting exchanges.

This comes in a couple of formats one being a monthly selection service at a low monthly cost where we provide the strategy and what to do in different scenarios plus the selections to use, but not the criteria.

The other is a full strategies programme including all criteria plus support and selections for a higher price point"

I am leaning towards 20% standard rating all his sales which are £200k this quarter but not sure if anyone has come across a similar business or scenario. 

Any help would be greatly appreciated! 

Thanks 

Replies (8)

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chips_at_mattersey
By Les Howard
08th Oct 2019 20:26

Unless you are selling exempt gaming or betting services, it must be standard rated.

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RLI
By lionofludesch
09th Oct 2019 09:13

This is arbitrage.

It's not gambling and it's not exempt.

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By bernard michael
09th Oct 2019 10:16

Do people still fall for that old rubbish ? The only person who wins is the system seller

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Replying to bernard michael:
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By Accountant A
09th Oct 2019 15:40

bernard michael wrote:

Do people still fall for that old rubbish ?

Sadly - and a lot of them apparently - "his sales which are £200k this quarter".

bernard michael wrote:

The only person who wins is the system seller

I wouldn't touch people like that with a bargepole. Feeding off other people's inadequacies.

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Replying to bernard michael:
RLI
By lionofludesch
09th Oct 2019 15:48

bernard michael wrote:

Do people still fall for that old rubbish ? The only person who wins is the system seller

Well, that's very disrespectful to the turf branch of accountancy.

The way to win is to lay bets, which you can do on exchanges such as Betfair. There's no system to it, just a bit of effort. Effectively, you become the bookie and, as we know, the bookie always wins.

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By bernard michael
09th Oct 2019 15:59

Remember he's charging for the "system"
Laying bets on Betfair tends to be as much a gamble as betting to win in the usual way. I'd be very surprised if his customers/mugs can learn anything from this wise owl that they couldn't gain from a well aimed pin.
The problem is that the "mug" loses twice once to the bookie and once to pay for the system

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Replying to bernard michael:
RLI
By lionofludesch
09th Oct 2019 16:11

Indeed.

My point is that you don't need a system, you need to work.

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By The Dullard
30th Sep 2020 16:56

I have a gambling strategy; I buy the Racing Post and find a nag with long odds and a name I like the sound of and put a Pony on it. Having now flogged it to death, I thought I'd now share it with everybody. VAT-free donations happily received.

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