** JACKPOT SYNDICATE ** OFFICIAL THREAD ** 387 SHARES FINALISED FOR AUGUST 1ST 2017 ONWARDS ** AUGUS

unknown_username

its your own money that i dont agree to obvoiusly you get it back out of winnings from either the horse winning or the jackpot coming in. 

id rather we all transfer money if need be 

StayOrGo

In Response to Re: ** JACKPOT SYNDICATE - OFFICIAL THREAD ** VERY IMPORTANT FOR PEOPLE TO INPUT INTO HEDGING OPTION QUESTION/PROCESS** SHARE DEALINGS ARE NOW FROZEN UNTIL 26TH MAY 2017:

its your own money that i dont agree to obvoiusly you get it back out of winnings from either the horse winning or the jackpot coming in.  id rather we all transfer money if need be 
Posted by MICKYBLUE

How would I get 24 syndicate members to transfer funds with 20 mins notice?

It wouldn't happen.

The thing we'd have to do, is all place our own bets on RED RUM, but those not following it closely, or able to put their own bets on would lose out. (I would hate that to happen)

Cheers,

G

unknown_username

id like others thoughts on this as well. as you say it will be getting overcomplicated on audit. i dont like feeling like i owe anyone, thats my ocd

StayOrGo

Perhaps you're right, it could get messy.

So you prefer, if there are no funds in the Syndicate account, or not enough to allow hedging, people would have to do their own bets on Red Rum?

I don't like it because it could easily result in some making a nice profit (those that do their own hedging) and others losing.

What are other people's views on this? It wouldn't be good for moral and team spirit really if some won handsomely while others lost.

Cheers,

G

P.S. I would only be owed the money for a matter of less than an hour or two.

unknown_username

if you used say £300 and horse lost we won jackpot of say 2k minus your £300. so still a decent return 

i also dont think we should do our own either and didnt say that, id happily put into kitty the night before said meeting tho.

lets get others views on this im not great at writing down whilst others are very good

StayOrGo

In Response to Re: ** JACKPOT SYNDICATE - OFFICIAL THREAD ** VERY IMPORTANT FOR PEOPLE TO INPUT INTO HEDGING OPTION QUESTION/PROCESS** SHARE DEALINGS ARE NOW FROZEN UNTIL 26TH MAY 2017:

if you used say £300 and horse lost we won jackpot of say 2k minus your £300. i also dont think we should do our own either and didnt say that, id happily put into kitty the night before said meeting tho.
Posted by MICKYBLUE

Anyone has the right to do their own, it would be wrong to stop it.

Who are we to stop people backing a horse to balance their own personal equity!

StayOrGo

In Response to Re: ** JACKPOT SYNDICATE - OFFICIAL THREAD ** VERY IMPORTANT FOR PEOPLE TO INPUT INTO HEDGING OPTION QUESTION/PROCESS** SHARE DEALINGS ARE NOW FROZEN UNTIL 26TH MAY 2017:

if you used say £300 and horse lost we won jackpot of say 2k minus your £300. so still a decent return  i also dont think we should do our own either and didnt say that, id happily put into kitty the night before said meeting tho. lets get others views on this im not great at writing down whilst others are very good
Posted by MICKYBLUE

We'd have no idea IF or HOW MUCH would be required the night before, and trust me, a logistical nightmare to get everyone to pay in such short notice.

Idea's OK, but not workable in practice.

Cheers,

G

StayOrGo

I am happy to say, no funds, no hedging on behalf of the syndicate.

But, in the scenario above, would I have a bet on RED RUM myself, to balance my own personal equity?

Absolutely I would, and I'd encourage others to do the same.

unknown_username

lets get everyones views first. 

i was replying to your post regarding getting everyone to do there own hedging which as you say wont be fair, of course i know we cant stop anyone backing anything and would not think otherwise. and getting confused here tbh

StayOrGo

In Response to Re: ** JACKPOT SYNDICATE - OFFICIAL THREAD ** VERY IMPORTANT FOR PEOPLE TO INPUT INTO HEDGING OPTION QUESTION/PROCESS** SHARE DEALINGS ARE NOW FROZEN UNTIL 26TH MAY 2017:

lets get everyones views first.  i was replying to your post regarding getting everyone to do there own hedging which as you say wont be fair, of course i know we cant stop anyone backing anything and would not think otherwise. and getting confused here tbh
Posted by MICKYBLUE

It's not a case of it not being fair, as people, "in theory" all have the opportunity to back RED RUM, it would just be very unfortunate for some if RED RUM won.

Of course if RED RUM loses, they make more profit than those who backed it.

It would just not be ideal if half the Syndicate were "celebrating" a 20/1 winner, while others were hurting after a loss and such a near miss.

Like you say, we'll see how other's respond. Is it really borrowing money from me if a return that would always cover it is guaranteed within minutes/or an hour or so at the most?

Cheers,

G

MISTY4ME

I think everyone trusts you enough Graham, for you to 'LOAN' the Syndicate money for the hedge bets for an hour or two in that scenario, and as everyone can see from the example, it makes perfect sense, and is the easiest option

wynne1938

In Response to Re: ** JACKPOT SYNDICATE - OFFICIAL THREAD ** VERY IMPORTANT FOR PEOPLE TO INPUT INTO HEDGING OPTION QUESTION/PROCESS** SHARE DEALINGS ARE NOW FROZEN UNTIL 26TH MAY 2017:

In Response to Re: ** JACKPOT SYNDICATE - OFFICIAL THREAD ** VERY IMPORTANT FOR PEOPLE TO INPUT INTO HEDGING OPTION QUESTION/PROCESS** SHARE DEALINGS ARE NOW FROZEN UNTIL 26TH MAY 2017 : this i vote no to. if there isnt money in kitty then no hedge bets. all or nothing with jackpot
Posted by MICKYBLUE

+1

wynne1938

In Response to Re: ** JACKPOT SYNDICATE - OFFICIAL THREAD ** VERY IMPORTANT FOR PEOPLE TO INPUT INTO HEDGING OPTION QUESTION/PROCESS** SHARE DEALINGS ARE NOW FROZEN UNTIL 26TH MAY 2017:

In Response to Re: ** JACKPOT SYNDICATE - OFFICIAL THREAD ** VERY IMPORTANT FOR PEOPLE TO INPUT INTO HEDGING OPTION QUESTION/PROCESS** SHARE DEALINGS ARE NOW FROZEN UNTIL 26TH MAY 2017 : OK, that makes it easier for me. But lets just offer a simple scenario based on the following: 1) There is no (or little) money in the kitty after placing the Jackpot bet. 2) We are still in after LEG 5. 3) We stand to win £20K as long as RED RUM DOESN'T   WIN  in the last leg. 4) RED RUM's ODDS are 20/1 Are you sure you wouldn't want me to "temporarily loan" the syndicate £250 to put on RED RUM at 20/1 out of my own money to guarantee the Syndicate a minimum £5K return? A scenario like this could well happen, but you say, we chance it? Just a thought. Cheers, G
Posted by StayOrGo

In this scenario,I would say yes,as it is a no brainer.

StayOrGo

OK, looks like we have split decisions here, although it's looking like a YES to Hedging but ONLY if FUNDS ARE AVAILABLE in the Syndicate Account.

Although I have noted Misty doesn't feel this way, but if there are objections (Micky and Wynne both object from what I can see), I need to take the "cleaner" option.

Cheers,

G

StayOrGo

In Response to Re: ** JACKPOT SYNDICATE - OFFICIAL THREAD ** VERY IMPORTANT FOR PEOPLE TO INPUT INTO HEDGING OPTION QUESTION/PROCESS** SHARE DEALINGS ARE NOW FROZEN UNTIL 26TH MAY 2017:

In Response to Re: ** JACKPOT SYNDICATE - OFFICIAL THREAD ** VERY IMPORTANT FOR PEOPLE TO INPUT INTO HEDGING OPTION QUESTION/PROCESS** SHARE DEALINGS ARE NOW FROZEN UNTIL 26TH MAY 2017 : In this scenario,I would say yes,as it is a no brainer.
Posted by wynne1938

Your +1 and this comment contradict each other Wynne, which is it?

We need either a YES it is OK or a NO it's not acceptable, regarding the principle of me temporarily lending the Syndicate hedging money.

Again it needs to be unanimous or it's the "cleaner" option which would be I NEVER TEMPORARILY LEND THE SYNDICATE FUNDS.

Cheers,

G

mkgunner

In Response to Re: ** JACKPOT SYNDICATE - OFFICIAL THREAD ** VERY IMPORTANT FOR PEOPLE TO INPUT INTO HEDGING OPTION QUESTION/PROCESS** SHARE DEALINGS ARE NOW FROZEN UNTIL 26TH MAY 2017:

In Response to Re: ** JACKPOT SYNDICATE - OFFICIAL THREAD ** VERY IMPORTANT FOR PEOPLE TO INPUT INTO HEDGING OPTION QUESTION/PROCESS** SHARE DEALINGS ARE NOW FROZEN UNTIL 26TH MAY 2017 : In this scenario,I would say yes,as it is a no brainer.
Posted by wynne1938

100% agree

unknown_username

can people vote on whether to let Graham lend money to syndicate if need be please, all this reply to posts is getting confusing

MISTY4ME

In Response to Re: ** JACKPOT SYNDICATE - OFFICIAL THREAD ** VERY IMPORTANT FOR PEOPLE TO INPUT INTO HEDGING OPTION QUESTION/PROCESS** SHARE DEALINGS ARE NOW FROZEN UNTIL 26TH MAY 2017:

OK, looks like we have split decisions here, although it's looking like a YES to Hedging but ONLY if FUNDS   ARE AVAILABLE  in the Syndicate Account. Although I have noted Misty doesn't feel this way, but if there are objections (Micky and Wynne both object from what I can see), I need to take the "cleaner" option. Cheers, G
Posted by StayOrGo

I don't think you ought to count my opinion Graham, because I'm not in the syndicate. I just offer my opinion as an interested outsider. I just think in certain limited circumstances, as you've shown, it would be sad to miss out on the recovery of the initial outlay. It's almost like praying that they don't hit that 1 outer..... and we all know that can happen!

Dollie

In Response to Re: ** JACKPOT SYNDICATE - OFFICIAL THREAD ** VERY IMPORTANT FOR PEOPLE TO INPUT INTO HEDGING OPTION QUESTION/PROCESS** SHARE DEALINGS ARE NOW FROZEN UNTIL 26TH MAY 2017:

In Response to Re: ** JACKPOT SYNDICATE - OFFICIAL THREAD ** VERY IMPORTANT FOR PEOPLE TO INPUT INTO HEDGING OPTION QUESTION/PROCESS** SHARE DEALINGS ARE NOW FROZEN UNTIL 26TH MAY 2017 : Yes Dollie, that is a slight problem, especially if starting to hedge prior to LEG6. However, as a return is guaranteed, I could potentially use my own money to do it, but again, this causes the audit to get more messy. Cheers, G
Posted by StayOrGo

As long as the transactions are transparent, I do not see an issue with the audit process. Nor do I see a problem with the loan process, with a guaranteed return the "loan" is for a very short period.

StayOrGo

OK, I have made some posts, purely to show people examples of scenarios that may happen.

I now need you all to look at those "examples" and answer the following question now that you may perhaps understand the situation better. Any NO's and I will not hedge with my own funds.

For clarification, I will be taking no personal risk, as any money hedged would always be covered by the return, so don't worry on my account.

The question is:

"IS IT OK "in principle" or NOT for me to temporarily lend the Syndicate hedging money?"

A simple YES or NO please.

Any NO's and I will NOT hedge with my own funds.

Cheers,

G

wynne1938

In Response to Re: ** JACKPOT SYNDICATE - OFFICIAL THREAD ** VERY IMPORTANT FOR PEOPLE TO INPUT INTO HEDGING OPTION QUESTION/PROCESS** SHARE DEALINGS ARE NOW FROZEN UNTIL 26TH MAY 2017:

In Response to Re: ** JACKPOT SYNDICATE - OFFICIAL THREAD ** VERY IMPORTANT FOR PEOPLE TO INPUT INTO HEDGING OPTION QUESTION/PROCESS** SHARE DEALINGS ARE NOW FROZEN UNTIL 26TH MAY 2017 : Your +1 and this comment contradict each other Wynne, which is it? We need either a YES it is OK or a NO it's not acceptable , regarding the principle of me temporarily lending the Syndicate hedging money. Again it needs to be unanimous or it's the "cleaner" option which would be I NEVER TEMPORARILY LEND THE SYNDICATE FUNDS. Cheers, G
Posted by StayOrGo

Yes I agree to you lending the syndicate money .

MAXALLY

YES.*

*If you clearly state the amount and post receipts on thread for someone to acknowledge. Also, only if YOU are ok doing it in regards to own funds etc.

On a lighter note, I also vote NO on placing a bet on REDRUM....even I know that would be a lost leader

unknown_username

YES

StayOrGo

In Response to Re: ** JACKPOT SYNDICATE - OFFICIAL THREAD ** VERY IMPORTANT FOR PEOPLE TO INPUT INTO HEDGING OPTION QUESTION/PROCESS** SHARE DEALINGS ARE NOW FROZEN UNTIL 26TH MAY 2017:

YES.* *If you clearly state the amount and post receipts on thread for someone to acknowledge. Also, only if YOU are ok doing it in regards to own funds etc. On a lighter note, I also vote NO on placing a bet on REDRUM....even I know that would be a lost leader
Posted by MAXALLY

Any hedging bets will of course be detailed on the thread, with receipts, prior to the off of the race in question.

Ideally someone will reply to those posts before the off, so that it is not editable by me after the event.

This way we'll have a clear audit trail.

Acceptable from an audit perspective Dollie? I will of course also supply you and Snuffer screenshots and transaction references in the usual manner.

Cheers,

G

Snuffer

In Response to Re: ** JACKPOT SYNDICATE - OFFICIAL THREAD ** VERY IMPORTANT FOR PEOPLE TO INPUT INTO HEDGING OPTION QUESTION/PROCESS** SHARE DEALINGS ARE NOW FROZEN UNTIL 26TH MAY 2017:

In Response to Re: ** JACKPOT SYNDICATE - OFFICIAL THREAD ** VERY IMPORTANT FOR PEOPLE TO INPUT INTO HEDGING OPTION QUESTION/PROCESS** SHARE DEALINGS ARE NOW FROZEN UNTIL 26TH MAY 2017 : Any hedging bets will of course be detailed on the thread, with receipts, prior to the off of the race in question. Ideally someone will reply to those posts before the off, so that it is not editable by me after the event. This way we'll have a clear audit trail. Acceptable from an audit perspective Dollie? I will of course also supply you and Snuffer screenshots and transaction references in the usual manner. Cheers, G
Posted by StayOrGo

I can perform the task of replying to your posts before the off as I like to follow the thread on Jackpot days.

From an audit perspective I can't see any complications with Dollie, (and/or myself) and yourself agreeing to the repayments.

unknown_username

ive slept onit and if everybody is ok with this fine by me. but we need more coming forward and not jut usual suspects

mkgunner

YES

Dollie

In Response to Re: ** JACKPOT SYNDICATE - OFFICIAL THREAD ** VERY IMPORTANT FOR PEOPLE TO INPUT INTO HEDGING OPTION QUESTION/PROCESS** SHARE DEALINGS ARE NOW FROZEN UNTIL 26TH MAY 2017:

In Response to Re: ** JACKPOT SYNDICATE - OFFICIAL THREAD ** VERY IMPORTANT FOR PEOPLE TO INPUT INTO HEDGING OPTION QUESTION/PROCESS** SHARE DEALINGS ARE NOW FROZEN UNTIL 26TH MAY 2017 : Any hedging bets will of course be detailed on the thread, with receipts, prior to the off of the race in question. Ideally someone will reply to those posts before the off, so that it is not editable by me after the event. This way we'll have a clear audit trail. Acceptable from an audit perspective Dollie? I will of course also supply you and Snuffer screenshots and transaction references in the usual manner. Cheers, G
Posted by StayOrGo

Yes.

OK from an audit point of view, particularly as Snuffer will be observing in real time.

StayOrGo

I think with the soft ground and the open card (other than LEG 5) we will NOT ATTEMPT tomorrow's Jackpot at York despite the rollover. So the team can stand down tonight.

Cheers,

G

StayOrGo

Hi all.

Currently there is a roll over of £19,455, I anticipate that probably another 12-15K will go in the pool tomorrow, totalling around the £34K mark if it rolls over.

If £34K rolls over then you can expect at least the same will be bet, making a pool of 70K if it rolls over Saturday too.

IF, big IF, as I said, it isn't won on Saturday and 70K rolls over, there would probably be another 50k added, making it £120K to play for on Sunday (70K ish roll over, plus at least 50k bet)

Lots of if's and buts, figures probably conservative, but we'll see.

We won't attempt tomorrow (Fri), tough card, probably won't attempt Saturday, but probably will attempt Sunday if it rolls over.

Cheers,

G