In Episode 97 of the Smart Betting Club Podcast, I am joined for the third time by Anthony Kaminskas, founder of AKBets and a former professional punter turned bookmaker.
Nearly three years on from the launch of AKBets, this conversation takes stock of how the business has grown, how the betting industry has shifted, and why life as a modern bookmaker is far tougher than most punters realise – including a healthy discussion on betting restrictions.
AK speaks candidly about operating under UK regulation, handling restrictions, managing compliance risk, and absorbing rising costs at every level of the business.
He also lifts the lid on the real economics of running a sportsbook, sharing hard numbers on payroll, data feeds, duties, levies, payment processing and platform fees.
It is an honest look at why betting markets look the way they do, why margins are tightening, and why both punters and bookmakers are being squeezed by the same pressures.
You can listen to Episode 97 FREE now via Apple / Spotify / YouTube and all other major podcast directories (search Smart Betting Club)
You can also support the SBC Podcast by visiting our podcast sponsor, Matchbook. You can get 150 days, commission free with them via this link.
Discussed With AK:
- The early chaos of launching AKBets just before Cheltenham and surviving the first year
- Growing from a one man operation to a licensed bookmaker with close to 30 staff
- Why compliance now outweighs trading as the biggest business risk and team
- How and why bookmakers limit or restrict certain betting patterns
- The reality behind social media narratives around account closures
- The impact of rising UK betting and casino duties on prices and offers
- Why higher taxation almost always leads to worse odds for customers
- The true monthly cost of running a UK sportsbook
- Why horse racing is becoming harder and harder to offer sustainably
- The growing risk of black market operators as regulation tightens
- Whether the future still holds opportunity for sharp bettors
- Why professional gambling skills transfer well outside betting
If you want to understand how bookmakers actually think, why markets behave the way they do, and where the pressure points now sit in UK betting, this is essential listening.
Key Quotes
On the reality of running a bookmaker
“It costs us around £500,000 to £600,000 every single month just to keep the site running.”
On total account closures
“Since the start of October, we’ve closed four accounts for trading related reasons. One of those was Brodders, who has an account with us now. So realistically, you’re talking about three accounts closed in that period.”
On process changes after the Brodders case
“We don’t let individual traders close accounts anymore. If an account is going to be closed, it now needs sign off from 3 people.”
On taxation
“Higher betting duty only leads one way. Higher margins. There is no other solution.”
On compliance versus trading
“A mistake in compliance has more chance of us not existing as a business than a mistake in trading.”
On the black market
“If you think the legal market is tough on sharp customers, the black market will be worse, not better.”
On horse racing
“You could make the tax on racing 0% and it still would not fix the underlying cost problem.”
On survivorship bias
“People only see the bookmakers that survive. They never see the ones that disappear.”
On professional gambling skills
“If you can think critically and solve betting problems, those skills transfer to almost anything.”
About The Smart Betting Club
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