17 replies to this topic

[evildrugmonkey]

Hi all. Im having trouble with regaurds to a recent collection i went too.
i will throw some figures at you. Total cash in m/c = £188. less 15% vat = £164 roughly. club is on 50/50 split giving them total £82. Ok so far. Prob is the liscence fee. B4 is roughly £840 a year which goes to the gov. The deal this club gets is that my comp pays the liscence and they pay 12 equal installments each month (interest free loan if you will) of £77 . So i took the £77 from the £82 leaving them £5! clearly not viable as not many punters play it.Problem is that the club say i should of took the liscence fee from the £164 cash. Which = £87. Now do the 50/50 giving the club £43.5. Basically i need to khow which method is correct. Many thanks in advance for anyone who can help.

[cgleisure]

Hi all. Im having trouble with regaurds to a recent collection i went too.
i will throw some figures at you. Total cash in m/c = £188. less 15% vat = £164 roughly. club is on 50/50 split giving them total £82. Ok so far. Prob is the liscence fee. B4 is roughly £840 a year which goes to the gov. The deal this club gets is that my comp pays the liscence and they pay 12 equal installments each month (interest free loan if you will) of £77 . So i took the £77 from the £82 leaving them £5! clearly not viable as not many punters play it.Problem is that the club say i should of took the liscence fee from the £164 cash. Which = £87. Now do the 50/50 giving the club £43.5. Basically i need to khow which method is correct. Many thanks in advance for anyone who can help.

for starters the vat is wrong should be 17.5% if its on 50/50 id take the vat out and then do the split then take licence from there share
and id either change the machine or put a £5 one in there if thats all its taking in a month

dont worry bout it as thats the bosses problem

[Starleisure]

for starters the vat is wrong should be 17.5% if its on 50/50 id take the vat out and then do the split then take licence from there share
and id either change the machine or put a £5 one in there if thats all its taking in a month

dont worry bout it as thats the bosses problem

Agreed with the VAT comment.

Agreed with the way its split, reason is you just stated its a loan as they have to pay the licence back, its not your fault there not pulling enough money in there site.

[Guitar]

I would definately say it should come out of their share. Its their site.

[Matty.N]

and i also agree

why should you lose on takings just because they are?

business is a mean world, if the company did it to everyone then im sure a hell of a lot of money would be lost

[fruitman69]

Well unless the law has changed that i dont know about I wouldnt be posting this sort of thing on a public forum tbh as its actually illegal for you to be on a 50/50 share on a AWP, if the gaming board get wind of it your gonna be in pretty big trouble.

[Guitar]

Well unless the law has changed that i dont know about I wouldnt be posting this sort of thing on a public forum tbh as its actually illegal for you to be on a 50/50 share on a AWP, if the gaming board get wind of it your gonna be in pretty big trouble.

Uh why? Its a 50/50 share of the profits between the site owner and amusement supplier, not a 50/50 payout. Surely that percentage is not legislated.

[bowie]

I'm sure i read somewhere it's illegal to profit share aswell.

[shaun2097]

you are only allowed to charge a rent on a machine as an operator.
unless the law has changed, that was the law when i was an frutie engineer many years ago.

and the licence fee should be paid out of the sites split, otherwise you are paying toward the licence fee twice. (you will end up paying for the original licence and some of the part payments to recover that fee as you will loose out on your overall split.)

[Starleisure]

you are only allowed to charge a rent on a machine as an operator.
unless the law has changed, that was the law when i was an frutie engineer many years ago.

and the licence fee should be paid out of the sites split, otherwise you are paying toward the licence fee twice. (you will end up paying for the original licence and some of the part payments to recover that fee as you will loose out on your overall split.)

Wrong.

1st sept 2007 the gambling act changed to allow 50% profit shares to go ahead.

[jamesb99_1999]

yeah originally they didn't allow it but it changed a few years back. I think the reason they didn't originally allow it was because of dodgy operators changing the machines to make more profits.

[shaun2097]

Wrong.

1st sept 2007 the gambling act changed to allow 50% profit shares to go ahead.

like I said, unless the law had changed, since i was an engineer 7 years ago.

[Starleisure]

yeah originally they didn't allow it but it changed a few years back. I think the reason they didn't originally allow it was because of dodgy operators changing the machines to make more profits.

It was more down to old meters as they were to easy to swap over.

Now with digital meters it makes recording money better, but to be fair i dont think its much different, people always find ways to beat the system.

It was the idea that a sec meter stayed with an awp for its life, shame they break easy.

[Starleisure]

like I said, unless the law had changed, since i was an engineer 7 years ago.

Sorry was not a dig, just a quick reply to help others.

[evildrugmonkey]

Thanks for all your comments folks. The vat was %15 because it was before the new year. And the 50/50 thing was changed a few years back to help struggling operators. So the concensus is that i had made the correct decision. Nice to feel vindicated , thanks all.

[skabaz]

IOA registered companies(who i work for) do the collections like this...

total amount in cashbox after hopper is filled
subtract any claims
vat on net take
subtract the license money
calculate the share either 50/50 or whatever

leave the site their share

if its 50/50 then the site isn't paying any rent so whatever they get left hasn't cost them anything apart from electricity.

is it a club machine?

we have put a few £70 jackpot machines into members clubs now and are performing better.

baz

[evildrugmonkey]

IOA registered companies(who i work for) do the collections like this...

total amount in cashbox after hopper is filled
subtract any claims
vat on net take
subtract the license money
calculate the share either 50/50 or whatever

leave the site their share

if its 50/50 then the site isn't paying any rent so whatever they get left hasn't cost them anything apart from electricity.

is it a club machine?

we have put a few £70 jackpot machines into members clubs now and are performing better.

baz

[evildrugmonkey]

Sorry to necro this thread but it turns out Baz was spot on . Big up to ya Brah....................