New Posts For Thread: Betfair and the Star Principlehttps://community.betfair.com/general_betting/go/thread/view/94082/29971091/betfair-and-the-star-principleI'll start with this from the intro to 'the Star Principle' by Richard Koch, an early investor in Betfair and still a major shareholder."In the late 1990s, Andrew Black, known as Bert to his friends, had an idea. As a former professional gambler, heI posted earlier about the state of the BF AP markets especially horseracing.The 2 biggest Flat races in the remainder of the Flat season are the K George and then the Arc. Currently in the former race the first 10 in the betting have an average of https://community.betfair.com/general_betting/go/thread/view/94082/29971091/betfair-and-the-star-principle?post_id=533346339#533346339I posted earlier about the state of the BF AP markets especially horseracing.The 2 biggest Flat races in the remainder of the Flat season are the K George and then the Arc. Currently in the former race the first 10 in the betting have an average of Mon, 24 Jun 2013 11:09:56 -0500The £25 horse punter has been closed down by the conventional book if he follows tipsters, otherwise takes best prices or wins.I can believe that a lot of these winners understand enough (even if it's not about horses) just not to bet at bf when Prihttps://community.betfair.com/general_betting/go/thread/view/94082/29971091/betfair-and-the-star-principle?post_id=533345801#533345801The £25 horse punter has been closed down by the conventional book if he follows tipsters, otherwise takes best prices or wins.I can believe that a lot of these winners understand enough (even if it's not about horses) just not to bet at bf when PriMon, 24 Jun 2013 10:50:13 -0500ballabriggs: The PC in many ways acts in favour of people who currently pay it - it makes little difference in reality to the largest winners, but it makes it harder at the margin for a bright 18 year old, who starts out betting £2, to one day takehttps://community.betfair.com/general_betting/go/thread/view/94082/29971091/betfair-and-the-star-principle?post_id=533345129#533345129ballabriggs: The PC in many ways acts in favour of people who currently pay it - it makes little difference in reality to the largest winners, but it makes it harder at the margin for a bright 18 year old, who starts out betting £2, to one day takeMon, 24 Jun 2013 10:23:39 -0500TheVisOf course, you can lay at 1.01 on here which if a winner will get you the equivalent of "first past the post" and sometimes that will get done even if beaten which is some kind of reward, but it all costs. The laying in running as a "keep" bethttps://community.betfair.com/general_betting/go/thread/view/94082/29971091/betfair-and-the-star-principle?post_id=533345111#533345111TheVisOf course, you can lay at 1.01 on here which if a winner will get you the equivalent of "first past the post" and sometimes that will get done even if beaten which is some kind of reward, but it all costs. The laying in running as a "keep" betMon, 24 Jun 2013 10:23:18 -0500Oh and perhaps one other thing is of interest on BF and that is the "keep bet" facility. Again, they never shout about this, but the ability to leave up an odds on lay as a hedge to your 8/1 Rizeena would I am sure be of interest to a good few withhttps://community.betfair.com/general_betting/go/thread/view/94082/29971091/betfair-and-the-star-principle?post_id=533344535#533344535Oh and perhaps one other thing is of interest on BF and that is the "keep bet" facility. Again, they never shout about this, but the ability to leave up an odds on lay as a hedge to your 8/1 Rizeena would I am sure be of interest to a good few withMon, 24 Jun 2013 10:01:50 -0500Following on again from what Sandown is saying, look at Ascot last week if you were a £25 punter:Bet365 - free bet in the next race if you back a 4/1 winnerLads/Hills - free bet if your horse was secondVC - free bet on a losing race if R Hughes horshttps://community.betfair.com/general_betting/go/thread/view/94082/29971091/betfair-and-the-star-principle?post_id=533344489#533344489Following on again from what Sandown is saying, look at Ascot last week if you were a £25 punter:Bet365 - free bet in the next race if you back a 4/1 winnerLads/Hills - free bet if your horse was secondVC - free bet on a losing race if R Hughes horsMon, 24 Jun 2013 09:59:56 -0500Ballabriggs: A diagonal Lorenz curve would be Betfair's dream come true - everyone shuffling money backwards and forwards between themselves, with no-one having any edge over anyone else (...otherwise known as casino games). You answer as if I didnhttps://community.betfair.com/general_betting/go/thread/view/94082/29971091/betfair-and-the-star-principle?post_id=533344375#533344375Ballabriggs: A diagonal Lorenz curve would be Betfair's dream come true - everyone shuffling money backwards and forwards between themselves, with no-one having any edge over anyone else (...otherwise known as casino games). You answer as if I didnMon, 24 Jun 2013 09:54:05 -0500Another useful one Sandown is many bookies that pay first past the post and the amended result - rare that you kop on one of these of course but all your list adds up to a huge reason for not using BF for horses at all if you can get on with the bookhttps://community.betfair.com/general_betting/go/thread/view/94082/29971091/betfair-and-the-star-principle?post_id=533344283#533344283Another useful one Sandown is many bookies that pay first past the post and the amended result - rare that you kop on one of these of course but all your list adds up to a huge reason for not using BF for horses at all if you can get on with the bookMon, 24 Jun 2013 09:48:46 -0500It's the "providing you can get on EW with the BM" bit which is vital. All the betting shops in my experience now have a daily list of "bad each way races" listed on the staff monitor, while online you're just fast-tracking your way to account closurhttps://community.betfair.com/general_betting/go/thread/view/94082/29971091/betfair-and-the-star-principle?post_id=533344057#533344057It's the "providing you can get on EW with the BM" bit which is vital. All the betting shops in my experience now have a daily list of "bad each way races" listed on the staff monitor, while online you're just fast-tracking your way to account closurMon, 24 Jun 2013 09:39:29 -0500And of course when BM's go 1/4 odds 1,2,3 in conditions races at Festival times. So we can add enhanced placed terms to the advantages that BM offer.I don't think that the BF place market policy is enough of an edge imo to position it as a USP.https://community.betfair.com/general_betting/go/thread/view/94082/29971091/betfair-and-the-star-principle?post_id=533342851#533342851And of course when BM's go 1/4 odds 1,2,3 in conditions races at Festival times. So we can add enhanced placed terms to the advantages that BM offer.I don't think that the BF place market policy is enough of an edge imo to position it as a USP.Mon, 24 Jun 2013 08:49:07 -0500