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No more trading on NSW markets
No more trading on NSW markets
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Replies: 181
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There is pumpkin. I wrote yesterday to ask about that scenario (basically for me anything under 1.30 that wins is a loss for them). I didn't receive it in writing, but had a call back and I was said I can back inplay at short odds. I guess they lose from time to time, but I agree with you. However was told it's the multiple trading that they want to stop (at least for now).
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Looks like all of MickeyBlueEyes' posts have been deleted, he must have been a naughty boy.
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Interesting to see that when I logged on this morning the first screen up was them advertising their "free bet" technique.
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Interested to know if anybody outside of Australia has received a call in regards to trading NSW markets?
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Or did anyone not get a call and make a killing trading today?
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BJT - I've had correspondence with one trader in the UK. He hasn't had a call or been contacted as yet.
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Interesting tweet from Betfair's marketing and comms manager last night:
Great day of racing and an exciting week ahead for @Betfair_Aus - stay tuned everyone #excitingweekahead And a number of tweets pertaining to Victorian racing yesterday, although perhaps not out of the ordinary. Does 2+2 = 4? or 5? |
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I think most people would agree that it's not sustainable or fair for Betfair to absorb the increased costs associated with the 1.5% turnover tax now in effect for NSW. It is how this cost has been passed on with which I take issue. As it's been applied to all thoroughbred, harness and greyhounds in Australia and NZ Betfair is collecting funds off punters in all these markets (and presumably subsidising some of the costs themselves) to pay Racing NSW. However, this ultimately only forces the hand of every other thoroughbred, harness and greyhound racing body in Aus and NZ to implement the same tax. Currently, punters in markets outside of NSW are paying more but no additional money is going to these states' racing bodies. This means that the non-NSW states are not benefiting from being a more competitive market relative to NSW so the only logical step for these states is to implement the same turnover tax.
Don't get me wrong, I think Betfair is a great product that still offers the best value if you intend to make a long term profit and I also think it's reasonable to pass the increased costs on to the consumer, but the way in which some of the cost has been passed on provides no incentive for other states to remain with a gross revenue system (as opposed to a turnover based system). I know it moves away from Betfair's current model but if Betfair insists on still providing NSW markets I think they should implement a turnover based charge within these markets to ensure that the consequences of a turnover based tax are passed on to NSW's racing body. |
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so if PC is hitting big punters and traders aren't allowed to trade.. who is actually going to be left on betfair to start markets or bet?
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i assume gunnedah qualifies as nsw
well someone (bot based) was clearly backing/laying one after the other ... on the 6th race ... one rule for some .. one rule for others ... |
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Uncleee
One thing is guaranteed, it wont be the traders who start markets or have a bet. |
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just maybe BF r seeding the markets, ............food for thought
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it does seem very strange that it doesn't seem to be a blanket announcement - my guess is they've called the people that regularly green up while they work out how to update their programming???
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no womble....i green up maybe once a week and i was called
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it's a mystery then - random calls???
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think it's more likely the size of average bets placed and potential exposure they would face
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Hahaha, This would be funny if it wasn't so ridiculous!
I received the following email the other day for a seminar at Crown Casino in Melbourne this coming Wednesday: As you have already attended a Betfair beginners education session, we would now like to take you to the next level by inviting you to a free Advanced Education Seminar. This seminar will focus on some of the finer points of exchange betting and trading, seeking to give you that vital edge over the pack. Some of the topics we will cover include: • Discipline and money management • Adopting a more serious approach to trading • Improve your understanding of sports markets • Learn how to identify trading opportunities • Discussion regarding Betfair API products Just for attending, you will receive a free Betfair pack including the acclaimed sports betting book ‘Sports Betting to Win' --------------- Can you spot what they've missed....that's right, there is no *Not available for NSW racing and soon every other place in AUS.  |
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pumpkinslayerII Joined: 24 Aug 07
Is there IR on NSW markets? If so this should end. Betting at 1.01 is a disaster for betfair. Josh-T 12 May 12 02:50 There is pumpkin. I wrote yesterday to ask about that scenario (basically for me anything under 1.30 that wins is a loss for them). I didn't receive it in writing, but had a call back and I was said I can back inplay at short odds. I guess they lose from time to time, but I agree with you. However was told it's the multiple trading that they want to stop (at least for now). So betfair allow horses to be backed after they've won the race and their other customers are expected to fund the 1.5% of the mugging crews' total stakes it will cost them to do so? I just hope they're paying their ex-city clowns handsomely. We wouldn't want to lose them to the United States. |
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We now have Feck and his ideas on here. Thanks wombleoz.
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Ah, my renown has crossed continents.
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sorry all
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Punters show suggests around 30 traders were contacted - who represent 5% of the market.
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I have been contacted also.
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when you joined rollin ... this morning ... were you advised anything at the time ?
... and was that your first race bet |
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And did they sing the following song before telling you not to trade?
Rollin, rollin, rollin Rollin, rollin, rollin Rollin, rollin, rollin Rollin, rollin, rollin Rawhide Roilin, rollin, rollin Though the streams are swollen Keep them doggies rolling Rawhide Rain and wind and weather Hell bent for leather Wishing my gal was by my side All the things I'm missin' Good vittels, lovin', kissin' Are waiting at the end of my ride Move 'em on, head' em up Head 'em up, move' em on Move 'em on, head' em up Rawhide Cut 'em out, ride 'em in Ride 'em in, cut 'em out Call 'em out, ride 'em in Rawhide |
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That was
The Worst Joel a well kniwn Xmassacre tune.  |
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...err "known"
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The Blues Brothers did a good rendition
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Member for about a year and it was more like...
Move in, now move out Hands up, now hands down Back up, back up Tell me what you're gonna do now Breath in, now breath out Hands up, now hands down Back up, back up Tell me what you're gonna do now Keep rollin' rollin' rollin' rollin' What? Keep rollin' rollin' rollin' rollin' Come on! Keep rollin' rollin' rollin' rollin' But don't trade! |
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i thought we were heading into a rousing Proud Mary ... but hey ..
rawhide a legendary show ... Gil & Rowdy lol .... and giving clint eastwood a leg up into the famous spaghetti westerns genre |
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How are the volumes doing on the NSW markets?
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30 hey - which one of you guys is the $100k man???
http://www.puntersshow.com.au/index.php?_a=videos&videoId=326 the reckon the 30 are 5% of turnover |
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oops Josh said the last part already, sorry Josh
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You Aussies seem to get a poor deal with betting
 Are they planning to extend this to other sports ? are BF slowly pulling the plug on operations in AUS do you think ? |
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With in 12 months all the major sports and racing will adopt this idea so i would say betfair will take there bat and ball and go home.
Maybe the pommy sports should look at the same structure. Since half our books are irish owned it may just be coming to s shop near you. |
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Dont see how British Racing can charge 1.5% of turnover. They cannot even get the levy from the Gibraltar online companies as it is at the moment.
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if i was one of only thirty called then they sure wasted a phone call. I hardly ever trade and almost exclusively lay.
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BS, dont think sports other than racing can charge a turnover tax, pretty sure it would all be back to court if some sports like AFL or NRL tried to get a turnover tax.
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logroller, sure they might go back to court but my guess is no reason why they wouldn't win the case the same as the racing has.
I think it would be stupid if they didn't try to get some money from the companies making money on the sports. |
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I probably shouldn't say this, but I held a Betfair account before Tasmania got their license. I have no intention of stopping if they pull out of Aus. I'll do things as I used to do them.
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