The 3 year holding rule should be taken out?

  • In my opinion changing all this market condition they should rule out the 3 year holding rule as many prbly sold in loss as there 3 year could be ending soon.

  • @NewUser267873 they have said they will not enforce the 3 year bet until 2021 and only when they have the tech in place for you to see how long you’ve held the shares; which is real terms means a long time from now

  • It should be taken out until they have an obvious place in the portfolio screen that says it expires on date.

    Permanently taken out, probably not. I don't think anyone wants players to be held for the full 3 years either stopping new players going in or no 2% for FI.

    *I do think tho it should be changed to 3 years you can earn dividends at the end of the 3 years you should still have the bet but you need to sell it or renew it.

  • @NewUser267873 said in The 3 year holding rule should be taken out?:

    In my opinion changing all this market condition they should rule out the 3 year holding rule

    It's a necessary legal requirement to qualify as a bet, in other words time limited, the reason that your winnings are TAX FREE, without that time limit it becomes an investment & is taxable which is clearly a serious restriction. They have however promised (whether that means anything anymore!) not to enforce it until 2021, at which point timestamping should be implemented, so notifications will allow those nearing expiry to be sold/recycled & noone risks a 100% loss by accident.

  • @Geronimo159387

    Is 3 years the maximum for a bet to be Tax free, as I'm sure I had a bet on Fury & Joshua to be world champions and both bets were to win titles outside the 3 year window and didn't pay tax.

    Joshua was an amateur and Fury had just turned pro

  • As someone who joined in the boom time of late 2018, and has held consistently, I do have shares that are expiring late next year that I am worried about now. A year is a long time in FI but if they extended it to 4 years, or put in an easy renewal mechanism, it would give me some peace of mind somewhat.

  • @AS-AS

    I know it has to be time limited, whether that time is specific in law I doubt, I suspect FI chose 3 years as a reasonable timeframe but I wasn't here at the time. Your boxing example were in fact time limited, so qualified as a bet by that definition, if only by the lifetime/career of those involved.

  • @kristiang85 said in The 3 year holding rule should be taken out?:

    I am worried about now.

    I am in a similar position but there's no need to worry IMHO as once NASDAQ tech is here each future will have a timestamp & can clearly be identified & notification sent that X futures in Y player are due to expire in Z months. FI have effectively already said that they won't just cancel any expired futures without giving the holder the opportunity to sell or renew & I can be certain they would want to avoid the "you've just stolen my money" PR disaster that would follow if they started implementing it in an unfair way.

  • @Geronimo159387

    Cheers for that, I wasn't saying mine didn't have a limit, just it was outside 3 years..

    If I remember rightly, Joshua was by age and Fury by time, but both outside the 3 year window.

  • All good news for me ,I have a player who I think reaches a three year hold in Sept but I am not sure.

  • expiry of shares is a good thing... its the only way to reduce circulation of shares... otherwise every single player ends up with mass surplus... which drives prices down.

  • also when its in place it will act as a form of market cap. I know the idea of sensible prices scares many.. cos they have got all their money sat in a portfolio just hoping to grow. but we are all buyers too through reinvesting divs.. pay day... and we want new users... who are also buyers. Cheap prices are a good thing... you get better yield and in many cases the chance for high cap ap opportunities shorter term.

    FI have been drumming it home... dividends you can win are what underpin prices. Too many are playing it on career divs with assumption of selling to another user.... that's not FIs fault and is treating it like a ponzi. Sancho can win you like £5-6 in 3 years but people are saying he wis worth £30 because they can sell the bet on... when the only way to win your bet on a player is to sell to another user... that's not good for the product.

  • They can't take out what isn't in. There is no 3 year rule yet.

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