Monday 15 August 2011

Betting shops set to outnumber the High Street banks

Bookies are opening at a rate of 11 a month according to the Gambling Commission.
Banks, meanwhile, shut 14 branches a month, many offering up the space to betting shops.
The public may therefore be relieved to find that their access to the two types of gambling establishment remains almost constant, despite difficulties in distinguishing the two…
Think of it as the difference between private and public i.e. if a betting shop fails to make a profit, it goes bust, whilst a failing bank is bailed out by the public purse…its losses socialised whilst its profits are privatised… 

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