On-course Prices To Online Customers? Bookie Michael Cannon Tells Us About His New Betting Service

Michael Cannon's New Betting Service

• 💡 Michael Cannon is launching a new service to bring racecourse prices to off-course customers, aiming to offer a fairer betting experience.
• 🎯 The service addresses the problem of online bookmakers restricting or closing accounts for winning punters, which Michael finds unacceptable.
• 💬 Customers interact by texting their bet requests (horse and amount) via WhatsApp, and Michael responds with the confirmed price or an alternative.

Competitive Pricing and Operations

• 📈 Michael aims to be very competitive, especially at the front end of the market (horses with lower odds), often beating industry show prices.
• 🛠️ The operation involves Michael at the racetrack and his son or staff at home managing online bets and liabilities to ensure timely processing, especially in the last 90 seconds before a race.
• ✅ All transactions are handled via bank transfer, with winnings returned to the originating account, adhering to licensing rules.

Fair Play and Punter Benefits

• 🤝 Michael explicitly states he will not ban winning punters, emphasizing that if there are losers, there must be winners.
• ⚠️ He will, however, ban those who consistently try to exploit minor price discrepancies rather than genuinely betting on competitive prices.
• 🚀 The service offers a way for struggling winners to get their bets on and for punters to "lose slower" by getting better value.

Challenges and Industry Outlook

• 🧩 Setting up the service involved staggering paperwork, including 58-page documents on KYC and anti-money laundering, making it difficult for others to replicate.
• 📉 Michael expresses concern about the decline in racecourse attendance and criticizes many racecourses for not doing enough to attract visitors, relying too heavily on media money.
• 🔮 He predicts that at least 10 racecourses will close in the UK over the next decade due to these issues and lack of effort from management.