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Breaking story - Asian bookies set to go bust??

Hot off the presses this one - a massive bad debt from a huge client is likely to send a few Asian bookmakers to the wall. Asian bookies base the vast majority of their business on credit, and when you bet almost entirely Asian handicaps, you don't have any margin to work with. When big liabilities are taken, these are offset with other bookies. It's the global credit crunch all over again.

Word is that the big bookies such as SBO and IBC can handle it, but those lower in the chain will succumb to accumulated bad debts. If you bet into Asia, you have to weigh up the risks against the benefits. Now is not the time to betting into there, you will more of this in the coming days and weeks....

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