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Bucketshop betting (tax free beer money)

Discussion in 'Journals' started by Businessman, Nov 20, 2022.

tradingpoker
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Businessman said:
If Mr Whale wants to bet £1000 on Tesla. That requires over £6 million in margin at todays prices.

So Mr Whale needs to put up £6million.

For Mr Whale to be considered a consistent loser, he would have already have had to have lost £10 million+ to the spread bet firm already. Anything less might not be enough for Mr Wale to flagged yet as a big time loser based on the size he wants to do.

So yeah, if he has already lost £10 million to the spread bet firm may well take the other side of his trade next TSLA at £1000 a point. If not they will hedge most of the risk off in the underlying.
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This is not correct, maybe for some firms it could be, I can't comment there. For IG index this is not close to how they do business

#21 Nov 27, 2022

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