Cheltenham festival week and I was thinking of an expression my grandmother would often use to discourage betting, and about the business model of the bookmaker (turf accountant, bookie etc).

“You never see a bookie on a bike”

Bookmakers rely on 2 things to make their business model successful-

  1. Honesty, their word is their bond, never a quarrel bet with Joe Coral etc.
  2. Transparency, all the prices are displayed in real time very visible on their boards or in their shops, and you can either take a price or opt for the starting price, it’s your choice.

In all my many years enjoying a flutter, I have never felt cheated by a bookie, and any mistakes have been swiftly and courteously corrected, to my complete satisfaction (they see it as very important to retain existing customers)

It may not quite fit our ‘slow selling’ model, but it seems to work very well because I’ve never seen a bookie on a bike.

By brendan@slow-selling.org

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