BF exchange in Denmark - questions

[herewego]

I really thank you Kafkaesque

[Kafkaesque]

No problem. Are you moving to Denmark, or here already? Where are you from?

[herewego]

I plan to be there in the winter
I'll contact you if things go well
Currently I'm few thousand miles away
Thanks again
You have a great forum here

[Kai]

It's illegal in Denmark to have gambling as your primary occupation, but the specific law is noted with unless through an entity that has been specifically approved.

Not heard that one before, seems a tad bit extreme. I remember a friend telling me a few years ago that he couldn't trade horse racing from Denmark because of Danske Spil, but I did hear that things have since changed for the better over there.

[Kafkaesque]

It's illegal in Denmark to have gambling as your primary occupation, but the specific law is noted with unless through an entity that has been specifically approved.

Not heard that one before, seems a tad bit extreme. I remember a friend telling me a few years ago that he couldn't trade horse racing from Denmark because of Danske Spil, but I did hear that things have since changed for the better over there.

Yep, I hate Danske Spil and then some. The old monopoly, in amongst it on horses. It took them until early 90's to set up bookmaking/betting, apart from a "pick 13" scheme. It also held a license (the only license, apart from casinos) on poker which they didn't take up for the longest while. They tried to paint poker as a problem gambler's game, because they knew, they couldn't compete in the market. While putting up slot machines with no second thought.

The market has undergone changes to break up the monopoly, but to this day the Danish lottery only pays out 60% out the take iirc. The rest is split as taxes, charity (mainly supporting local sports and culture), and admin costs. Talk about being a sucker's game! Or as the joke goes in poker/betting circles: An extra tax for people too dumb to understanding the most basic math!

[Kai]

Oh I believe you, it's definitely not the first time I hear someone ranting about Danske Spil

As bad as it sounds, at least Betfair has a proper licence in Denmark and you have the freedom to trade and not worry about paying tax. Don't take that for granted, there's worse places to be trading from. Not even complaining about my own country, there's far worse places. Croatia was comfortably positioned in that grey area for a long time until the local bookmakers couldn't compete anymore with the likes of Bet365 so now we're pretending to be communist China and trying to build a Great Firewall of our own.