Cheltenham Festival
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It seems that WH have managed to manipulate the Betfair market for each of the races where they have given an enhanced offer. HFly, Jezki, Long Run and Cue Card all drifted on here since being announced as their daily price boost. This, of course, is completely expected, as arbers lay off their bets. However, the Betfair prices have not reverted to what they were before the offers.
So why are these prices not returning to their original position. Are people still laying off their arbs? Are their punters out there that believe WH are "in the know" about these horses, and opposing them accordingly? What is interesting about this is that because of the drift of these horses, other leading candidates in these markets have naturally shortened, so that the book percentage remains overround.
I believe that Hurricane Fly was underpriced before the enhanced price in any case. However, it seems likely that this is not the reason that he began to drift. With the rain having appeared, I would think that punters would want to back him again, given his soft ground form. Zarkandar, ROR and Grandouet have all dropped in price slightly on here because of this drift, and this has in some cases led to some bookies cutting them.
It seems likely that this was just an accidental side effect of the PR work, but it is interesting how it seems to have manipluated these markets.
So why are these prices not returning to their original position. Are people still laying off their arbs? Are their punters out there that believe WH are "in the know" about these horses, and opposing them accordingly? What is interesting about this is that because of the drift of these horses, other leading candidates in these markets have naturally shortened, so that the book percentage remains overround.
I believe that Hurricane Fly was underpriced before the enhanced price in any case. However, it seems likely that this is not the reason that he began to drift. With the rain having appeared, I would think that punters would want to back him again, given his soft ground form. Zarkandar, ROR and Grandouet have all dropped in price slightly on here because of this drift, and this has in some cases led to some bookies cutting them.
It seems likely that this was just an accidental side effect of the PR work, but it is interesting how it seems to have manipluated these markets.
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