What are Bucket Shops?

I noticed a bad habit by some readers of financial blogs - too reliant and dependent on their favourite "shepherd"...

For example, got question on CPF matters, instead of checking the CPF website or contacting CPF directly, prefer to be spoon-fed...

If you get a summary from a summary from another summary, what do you think?

Want to bet there's some "oil and vinegar" (油加醋) added to the mix?

How do people get scammed?

Yup, they don't do the verification themselves.

Assuming others will do it for them, and/or have their best interest...

Think about it. Would you help others get richer than you if you do not get any benefits in return?

What are bucket shops?

I think I'll do it differently.

Anyone of you have placed 4D, Toto, or soccer bets illegally with private bookies?

There must be some "incentives" for you the retail bettor right?

If not why you would want to choose this illegal option over betting legally with Singapore Pools?

When you place your bets with these illegal bookies, they are taking the opposite side of your bets right?

These bookies are trading against you.

They make money when you lose; and they also make money when you win (bookies take a cut of your winnings).

And there's another risk.

Some of the bookies never pass your bets to their big syndicate boss.

If you win big, these bookies may "run road".

How to collect your winnings like that?

You can't complain to the syndicate boss - you don't know them.

And please hor! You can't go to the police too!

You betting illegally remember?

And that describes pretty much how a bucket shop operates. Wink.

You whiter than white bei kambing

What? You not "Hokkien peng"?

You "ang moh pie" and educated type?

You catch no ball what I say?

Hello, there's such a thing called Google.

OK, OK, don't hit the face!

Here's the Wikipedia link: Bucket shop

If you read to the  bottom, there's this "See also" section on forex scams, binary options, boiler room, and pump and dump.

You may want to explore own time own target.

Tip: Don't assume everything that's written in internet is correct or up to date.

If you got do your homework first, then if you want to jio me or the fisherman out for coffee to do verification, your questions will be much more intellectually stimulating.

Anything is better than, "What stock to buy?" or "At this price can enter?"

LOL!