Greg Bortz has a legal exchange?

I got the same whatsapp from three different sources today.  I don't believe the Vee Moodley running it angle but I for one would be VERY excited about being legally able to lay a horse in South Africa. I hope the rumor in that regard is true.

Anybody know anything outside of the whatsapp message?

Also don't believe the VEE part

All I'm going to say there is already a legal exchange in South Africa

Bob Brogan wrote:

Also don't believe the VEE part

All I'm going to say there is already a legal exchange in South Africa

Care to share....

naresh wrote:

Bob Brogan wrote:

Also don't believe the VEE part

All I'm going to say there is already a legal exchange in South Africa

Care to share....
 

INTERBET  the rest is up to the imagination

Bob interbet is nothing close to an exchange. You cannot lay horses unless you are a bookmaker..

If Bortz has bought Interbet and wants to do the Betfair thing I'm pretty sure the senior partner in that alliance would be properly pissed

wrote:

Bob Brogan post=876863 user

INTERBET  the rest is up to the imagination

Leave it to the social media type of imagination where all the bullshit baffles brains bs comes from?
Only licenced bookies are allowed to lay - years ago  [must be 8 at least] I was stopped from using their "exchange" unless I was willing to pay 800 odd a month to belong, but no laying - I posted their "dear john" email on this forum at the time
On 1 may 2016 it was this: Kindly be informed that our Trading Department has taken a decision to reduce your betting liabilities to R500.00 per event with immediate effect.Our trading systems suggest that your betting patterns on Interbet resemble more of a professional rather than a casual nature. Our policy is to limit the liability per event for customers such as yourself and rather direct you to the more professional Interbet betting exchange zone where higher limits are available on the major sporting and horseracing markets that are available on that site.Thanks and kind regardsThe Interbet Team

And then on 13 March 2017 it was this:
 Hi DOur systems reveal that your betting patterns on Interbet are of a professional rather than a casual nature. Our policy is that professional and bookmaking users are subject to a monthly subscription of R799 per month. Should you wish to continue to utilise the Interbet exchange, kindly acknowledge that you are amenable to the subscription with effect from 1 April  2017, or alternatively please notify us if you do not wish to continue on that basis and your access to the exchange site will be suspended.  Thanks and kind regardsThe Interbet Team

Many years ago I introduced Betfair to Interbet with the intention of having the ABC forum as part of a punter to punter exchange.

I am aware that Betfair has changed a bit over the years but the concept of having youngsters trading with their computers was a massive opportunity to get new punters into the game.

The exciting part was rather than just a win or lose bet they had the opportunity to trade out at any time on specific events eg football 0-0 half time for a small profit. 

The book Betfair for Dummies was a good introduction and I had many copies at the time.

I was invited to the Betfair offices for a tour and also treated to a day at Kempton Park and the Cheltenham festival with them.
These experience I will never forget and my passion for a punter to punter exchange in SA will always be a dream.

The official stance in SA was you could only lay if you had a bookmakers license 

Good Punting 👍 

















Sent from my Galaxy

Hey don’t shoot me, I’m not the messenger!

Bob Brogan wrote:

All I'm going to say there is already a legal exchange in South Africa

Care to share....

INTERBET  the rest is up to the imagination
 

Bob since I assume you of all people would know what an EXCHANGE is, I can only assume you have chosen to take the piss with this comment. 

I made contact with Greg .


He has not been on social media for many months, so has not seen these posts. I asked him some direct questions, and can confirm the following:

He has nothing to do with Interbet. He has not bought Interbet. He is not buying Interbet. He was surprised by my question.

As far as any involvement with Vee, he was even more surprised. He says that rumour makes absolutely no sense, and was confused how something like this would even have arisen. His sole interaction with Vee is through normal NHA / racing operator interactions. There is zero relationship outside of that.  Other than the NHA being responsible for investigating  illegal betting, he couldn't understand how Vee's name could or would be connected with a betting exchange.  His opinion was that this was a baseless rumour. 

Greg is however constantly exploring ways to freshen up, strengthen, improve, innovate a failing industry. 


I asked his thoughts on a betting exchange and he views it the same as looking at other revenue opportunities (e.g.  looking at facilities at their racecourses such as Padel courts, restaurants, building residential homes, building kids entertainment areas.) He said he was constantly looking at new sources of revenue - primarily outside of betting, but some within the betting framework too. Anything he can to boost the profitability of the company (and hence racing). 


Good Punting 👍

Can you please ask Mr Bortz about FantasyGo owned by Kenilworth Racing  

When will they introduce Fantasy Horse racing. Thanks.

Thor wrote:

Bob Brogan wrote:

All I'm going to say there is already a legal exchange in South Africa

Care to share....
 

INTERBET  the rest is up to the imagination

 

Bob since I assume you of all people would know what an EXCHANGE is, I can only assume you have chosen to take the piss with this comment. 
 

NO!

Interbet is an exchange 100%

Since exchange betting is illegal (or not allowed) in South Africa you can only use if you have a bookmaker license

That's why big punters, owners, and trainers are using Betfair and Playgate through middlemen etc (the same people that tell punters to use the tote)