Helpneeded, such an apt name. As I read earlier a self...

Helpneeded, such an apt name. As I read earlier a self proclaimed "whale" ... one that can't even explain the BM business model after raving about how great it is! The hired help obviously got shares

There are only two business models realsitsically, PBH Game Yield (or GGR as you guys call it) or underwrite trade liability, the third % of turnover is unlikely, is hard to imagine PBH going for that. (Neither of the the first two are without risk, Game Yield will require PBH to make a profit). I throught BM were underwriting the risk to give return to the industry? But again, happy to be corrected if I'm incorrect.

if BM did a deal of percentage of turnover deal then they are reliant on PBH to bring home the bacon in terms of trunover, but this is a good business model for BM as most bookmakers are reluctant to do this type of deal.