New Posts For Thread: Proof Of Value Concepthttps://community.betfair.com/general_betting/go/thread/view/94082/25732633/proof-of-value-conceptI would expect 95% of people on here to understand the value concept with Betfair being a place for sharp minds and all that, but for what it's worth (probably not much), here's my proof of it:Value Concept:Whered = decimal oddspr = Decimal probabiliThe inequalities were the wrong way round in that one you quoted though!https://community.betfair.com/general_betting/go/thread/view/94082/25732633/proof-of-value-concept?post_id=464193497#464193497The inequalities were the wrong way round in that one you quoted though!Tue, 31 Aug 2010 08:20:44 -0500LOOOOOOOOOOL Mythical.https://community.betfair.com/general_betting/go/thread/view/94082/25732633/proof-of-value-concept?post_id=464193433#464193433LOOOOOOOOOOL Mythical.Tue, 31 Aug 2010 08:19:51 -0500Rowan86 Joined: 13 Jan 05Replies: 1151 29 Aug 10 13:48 I would expect 95% of people on here to understand the value concept with Betfair being a place for sharp minds and all that, but for what it's worth (probably not much), here's my proof of ithttps://community.betfair.com/general_betting/go/thread/view/94082/25732633/proof-of-value-concept?post_id=464191853#464191853Rowan86 Joined: 13 Jan 05Replies: 1151 29 Aug 10 13:48 I would expect 95% of people on here to understand the value concept with Betfair being a place for sharp minds and all that, but for what it's worth (probably not much), here's my proof of itTue, 31 Aug 2010 08:01:16 -0500I think there is some overlap, but market makers don't necessarily set the opening prices. The largest one certainly doesn't.https://community.betfair.com/general_betting/go/thread/view/94082/25732633/proof-of-value-concept?post_id=464191081#464191081I think there is some overlap, but market makers don't necessarily set the opening prices. The largest one certainly doesn't.Tue, 31 Aug 2010 07:50:43 -0500Oh, when you said 'market makers', I thought you meant the bookies.https://community.betfair.com/general_betting/go/thread/view/94082/25732633/proof-of-value-concept?post_id=464190705#464190705Oh, when you said 'market makers', I thought you meant the bookies.Tue, 31 Aug 2010 07:44:48 -0500Dont forget the bookies can see the order flow...If loads of people start placing bets on one horse, they can adjust there price.- As well as adjust the prices of all the horses in the race.(thik of the over/under run_).https://community.betfair.com/general_betting/go/thread/view/94082/25732633/proof-of-value-concept?post_id=464115985#464115985Dont forget the bookies can see the order flow...If loads of people start placing bets on one horse, they can adjust there price.- As well as adjust the prices of all the horses in the race.(thik of the over/under run_).Mon, 30 Aug 2010 16:19:29 -0500I think it's the bookies that work that out more than the market makers. If you can do this with a high degree of accuracy, you have a licence to print money.https://community.betfair.com/general_betting/go/thread/view/94082/25732633/proof-of-value-concept?post_id=464113645#464113645I think it's the bookies that work that out more than the market makers. If you can do this with a high degree of accuracy, you have a licence to print money.Mon, 30 Aug 2010 16:03:48 -0500Yeah, you're right Fine As Frog Hair. They try and work out the pr. Deffo.https://community.betfair.com/general_betting/go/thread/view/94082/25732633/proof-of-value-concept?post_id=464107025#464107025Yeah, you're right Fine As Frog Hair. They try and work out the pr. Deffo.Mon, 30 Aug 2010 15:20:03 -0500Don't the market makers work out the pr ( or try to) first inorder to set their opening prices ?How else do you create a book ?Sorry if a stupid question.https://community.betfair.com/general_betting/go/thread/view/94082/25732633/proof-of-value-concept?post_id=464103633#464103633Don't the market makers work out the pr ( or try to) first inorder to set their opening prices ?How else do you create a book ?Sorry if a stupid question.Mon, 30 Aug 2010 14:58:44 -0500Yeah, it's a hard working out the pr of the horse winning, but that's the name of the game.https://community.betfair.com/general_betting/go/thread/view/94082/25732633/proof-of-value-concept?post_id=464090209#464090209Yeah, it's a hard working out the pr of the horse winning, but that's the name of the game.Mon, 30 Aug 2010 13:23:46 -0500