Forums

We want to share an important update with our Betfair Community users.

Over the coming months, the Betfair Community platform will be winding down. The final active day for the platform will be December 21st. From December 22nd, users will no longer be able to access the platform.

Your discussions, insights, engagement, and, most importantly, feedback have helped shape the platform and guided innovation. Your feedback continues to be important to us, and we will continue to listen via our dedicated feedback channels, as well as through product testing and innovations.

To share your feedback and experience, visit: https://support.betfair.com/app/home

General Betting

There is currently 1 person viewing this thread.
These 316 comments are related to the topic:
Professional Gambling

Post your reply

Text Format: Table: Smilies:
Forum does not support HTML
Insert Photo
Cancel
Page 6 of 8  •  Previous | 1 | ... | 3 | 4 | 5 | 6 | 7 | 8 | Next
sort by:
Show
per page
Replies: 316
By:
Alex the old wrinkled retainer
When: 31 Aug 08 15:22
I thought that I might spam the forum with a special offer on testesterone pills but I can see that it is here in abundance so I won't bother. Hey ho, I am off to find a flower arranging forum.
By:
DFCIRONMAN
When: 31 Aug 08 15:23
Koo has plenty of "liquidity" AFTER racing ]:)
By:
callataxi
When: 31 Aug 08 15:40
explain how i am not providing liquidity feck? if im putting up 2.02 for £500 on say hendry in a particualr frame and that is best avaialble price and that gets taken, i then proceed asuming i get a chance to, by laying the other player at maybe 1.4 later on. i have now traded my original bet, but ive provided plenty of liquidity. im not getting defensive, im just a bit confused on what the purposes of an exchange are if u arent gonna lay off winning positions to get an all round green book. some people on here seem to get too technical i think, for me its all about striking a bet and then laying off at price i think is right to guarantee profit. of course u dont get everything right, but as long as u get more right than wrong thats all that matters.
By:
The Betf
When: 31 Aug 08 15:41
Unfortunately this thread has been hijacked. Perhaps it should move back onto the original topic?
By:
Feck N. Eejit
When: 31 Aug 08 15:41
betfairy, let's say that the degree of liquidity a player contributes is proportional to the commission his presence generates such that if it could be demonstrated a player's absence would not have reduced betfair's commission then that player contributed no liquidity.
By:
The Betf
When: 31 Aug 08 15:46
I don't even need to answer that. Prepare for the onslaught :D
By:
Feck N. Eejit
When: 31 Aug 08 15:50
callataxi, that reply was not directed at you. Anyone who places a bet because they think it's value and close it out later is imo supplying liquidity. I take it a hidden queue would not wipe you out?
By:
Feck N. Eejit
When: 31 Aug 08 15:51
Onslaught of what betfairy?
By:
callataxi
When: 31 Aug 08 15:54
not sure whart u mean by hidden queue m8? im also not sure what u would define me as then? i assumed i am a trader as i look to lay 2 players in a particular match at odds on if i can and repeat it as often as i can if plenty of swings.
By:
Feck N. Eejit
When: 31 Aug 08 16:06
callataxi, are your bets made on your opinion of what you think the odds should be or based on money showing in the queue? If all the queue showed was the back and lay prices to a fixed take out* would you be unable to operate?

* e.g. if the fixed take out was 1K and the best offers on the back side were 100@ 6.0 and 200 @ 5.0 then all that would show on the back side would be 4.44 (1000 / 225).
By:
Feck N. Eejit
When: 31 Aug 08 16:07
Should read 5.44 not 4.44.
By:
Get On MASSIVE
When: 31 Aug 08 17:01
Perhaps we should do this with everything in life Feck.

Go into the shop for a pint of milk and make an offer on it and the shopkeeper can have a price in his head and decide to sell or not to sell on whatever your offer is.

Never going to happen Feck. :)
By:
Feck N. Eejit
When: 31 Aug 08 17:09
It already happens on betfair GOM. The shopkeeper reprices every item after you tell him what you want.
By:
Feck N. Eejit
When: 31 Aug 08 17:10
I'm off out. Enjoy your toblerones. :-)
By:
callataxi
When: 31 Aug 08 17:34
my bets are always based on what i think they should be, however if i make a player in running to be about 3.0 and the best anyone is offering is say 2.2 then of course i will try and put up say 2.3 and see if i can get any takers b4 offering my max price. then it often becomes a series of people jumping each other until u say reach 3.0 where i wouldnt go any higher. but in any low liquidity mkts where i may be only one pricing up im very happy to live and die by my own prices and im not putting up silly prices, im offering fair prices which have a reasonable chance of getting taken.
By:
curlywurly
When: 31 Aug 08 17:53
A bit too much info there.
Expect a load of £10 queue jumpers joining you
By:
callataxi
When: 31 Aug 08 18:03
not really m8, cue jumping is all part of the experience these days!! but everyone has their own different take on what price a player represents in running, especially something as random as a darts leg or frame of snooker. i play on literally every match played day or night, so doubt many others can last that long!!
By:
curlywurly
When: 31 Aug 08 18:16
Fair play - there's not many people that can trade fast moving markets like those all day.
Whats the secret, powerade, haribos?
By:
callataxi
When: 31 Aug 08 18:24
secret is my total obsession with sport and my love of numbers/odds. people talk of it being a lonely life being full time on here. i absolutely love it, i still play tennis most mornings and have my social time down the gym where i play and know most people and then im back for the afternoon and evening sportfest, what could be better!! i feel a lot of people just enjoy the gambling but have no enjoyment for the sport they are betting on. id watch the sports i bet on even if i had no money riding on them. yes i do have an understanding wife ( to be) , who lets me crack on with it. i probably only have 35 weeks out of 52 where i bet , so that gives me around 4 months a yr that i can do other things.
By:
curlywurly
When: 31 Aug 08 18:32
Very similar for me. Although I very rarely spend more than 4 hours a day on here, then again I only have 4/5 weeks off.
As you said it's absolutely crucial for longevity that you enjoy what you're betting on
By:
scarecrow
When: 31 Aug 08 18:32
i to trade in a simlilar way to callattaxi,i am sure at times we jump each other on certain sports,i suspect it may happen a lot on the frame betting at snooker,but competition makes for fairer prices for all.i cannot understand how people think that we do not provide liquidity at times there would be nothing in some markets especially the less popular sports if we did not make markets for them.
By:
callataxi
When: 31 Aug 08 18:57
im sure we do scarecrow. ive always assumed u were the 111 222 333 man who i spend most of my time fighting with!! but then im sure i drive u mad as well.
By:
Feck N. Eejit
When: 01 Sep 08 10:05
I earlier said "I'd say any trader that couldn't trade if the queue was hidden would be unlikely to be adding any liquidity". I don't think that suggests that market makers, using their own opinion on odds, don't supply liquidity.

I'm not against people closing out bets, I just think betfair give out too much market information. This allows opinionless parasites to act as middlemen between backers and layers. These middlemen contribute nothing in terms of liquidity or commission yet they're responsible for the vast bulk of requests that the betfair server processes. If betfair sold tickets for events, most tickets would be bought off touts.
By:
The Betf
When: 01 Sep 08 10:10
So if I owned shares in a company you are suggesting that I should not be able to sell at the current market price but would have to guesstimate what a fair price would be.

PMSL! Feck, you really do have a strange opinion on this!
By:
Feck N. Eejit
When: 01 Sep 08 10:26
I haven't a clue what you mean betfairy. In what way would there not be a current market price using my interface?
By:
askari1
When: 01 Sep 08 13:25
To a certain extent I wd accept as a definition of liquidity 'the illusion of liquidity' i.e. money available to a sufficient volume at a price where someone is prepared to take it, whether or not the sp or later price winds up being better for the price-taker.

But feck's purist definition of liquidity is prob. better and as he says wd not work out significantly worse for bf.

Traders also offer other users a lousy service in terms of offering liquid spot prices in unformed markets or in pre-off markets where there has been an unexpected event. A pie-in-the-sky idea wd be for bf to slice a bit off traders' usually high comm. if they agreed for their min. bet to be e.g. 25x the site mimimum.
By:
u25k
When: 01 Sep 08 13:47
feck can you explain how your interface looks like and works?

thanks.

I think current interface is good and shows what the market opinion is. It helps a backer to bet. The price can go up or down based on market supply and demand at one non changing position. Hiding ques means what?
By:
Feck N. Eejit
When: 01 Sep 08 14:43
U25k, I would just show one price and no amounts on each side. The odds showing would be the odds available to take out a fixed amount which would be dependent on the type of event and closeness to the off. e.g. Suppose there were 3 lays in the queue 100 @ 6.0, 200 @ 5.8 and 300 @ 5.4 and the fixed take out was 1K. The odds showing would be 5.90 (that's the best price available to back to take out 1K).
Pros
If someone sticks in a lay of £2 @ 6.2 the odds change only very slightly so no more £2 leap frog
Three £2 bets won't be able to hide decent liquidity a now.
A large bet won't panic the market so no need for drip feeding any more.
By:
Feck N. Eejit
When: 01 Sep 08 14:44
decent liquidity as now.
By:
slayerofthe'kins
When: 01 Sep 08 23:09
They really should have put a clause into your forum reinstatement that you don't mention the interface! We get the concept. There is no need to repeat it at every opportunity. You are the Abba of the forum: interesting at first, but years later is repeating the same old stuff and won't go away.
By:
Fred!
When: 01 Sep 08 23:58
lol slayer. Feck, I reckon if betfair took away our beloved transparency the purple place would become market leader within months.
By:
Martin654
When: 02 Sep 08 00:32
What a nice thread this is,..... i didnt read it all through but i want to give my cents in terms of that gambling thing.

After nearly a year of intense research i finaly got my Betting Structure organized in a way that produces steady income..... its not even difficult or super scientific...... when you understand odds and Probability it comes down to a big fat equasion.

There a some downers though.

1. You wont get rich overnight,... sorry impossible

2. Making money on Football the sure fire way is **ing slow takes ages (if you are not a rich ** from the begining with a superfat bank !)

3. Discipline is a factor !! Maybe the most important one.

4. Its no more fun sadly.... just management.

5. Forgett about value !!! Thats religion !!

All in all i guess i would second most of the opening posting.

Cheers.
By:
a dragon with no gold
When: 02 Sep 08 03:23
some good posts... nonetheless after having read and re read countless threads, ebooks, systems, tipsters, etc. and learning A LOT.... I still find myself losing my bank. Most frustrating thing is watching it grow slowly and steadily, thinking this is it, i got it right, im on track etc., and then suddenly and easily blow it in 1 or 2 bets. Congrats to all those who do profit, i still have some hope left by reading some pple here. GL
By:
Don't tell the wife
When: 02 Sep 08 08:24
a dragon with no gold - don't despair as there is money to be made. But I'm not sure it is by following ebooks, systems and tipsters. If it were, I'm sure they would not need to sell there products.

I agree with Martin654 that it does not have to be super scientific - my own betting is down to using methodical staking whilst taking into account the probability of an event occuring at the odds on offer.

He is also correct, that it cannot be seen as a way to overnight riches. I have an annual target, and each month I will review my betting to ensure that I am on course to meet that target.

It does call for discipline, and yes, it does take some of the enjoyment out of the sport you are following - but then I have never enjoyed losing and would much rather have things dull and successful.

I've never been one to particularly wait for 'value'. Whilst you are waiting for that, you might have missed several other opportunities for a win.

In the final analysis a horse race is always won, tennis and cricket matches are always won and lost, and there can only be three possible outcomes in a football match.
By:
The One That Got Away
When: 02 Sep 08 08:38
In the final analysis a horse race is always won, tennis and cricket matches are always won and lost, and there can only be three possible outcomes in a football match.

bang on!
By:
Feck N. Eejit
When: 02 Sep 08 08:45
They really should have put a clause into your forum reinstatement that you don't mention the interface! We get the concept. There is no need to repeat it at every opportunity. You are the Abba of the forum: interesting at first, but years later is repeating the same old stuff and won't go away.

I was answering a question from u25k regarding the interface. Next time I'm asked I'll seek your permission to answer. OK r sole?
By:
Feck N. Eejit
When: 02 Sep 08 09:11
Feck, I reckon if betfair took away our beloved transparency the purple place would become market leader within months.

Whose beloved transparency is it Fred? Anyone that matters?
By:
The One That Got Away
When: 02 Sep 08 09:16
Martin 654, thanks for your comments!

I am not quite sure what everyone is talking about at the moment as the thread seems to of gone away from where it started, still some very interesting ideas though!

All in all a pretty good read!
By:
Martin654
When: 02 Sep 08 10:05
Just some more words on the Discipline issue:

Lets have a look in the Sporting Braga Game yesterday..... the early goal perfectly matched my "standard criteria" (maybe i will do an E Book on those sometime that goes over the table for lousy 100 $ :) )

But the game itself was a perfect example in terms of "Discipline failure" ..... before entering the game i was some % in Profit from previous betting,.... i wanted more so i took the first wrongful risk..... which was entering with a too big inital stake.

After the first goal i was in Profit even more..... it was time to box it and quit..... as the odds on the market went out of sync with the normal Probabilitys i made my second bad call.... staying in against the market..... ultimately that decision busted my winnings......

When i think about it afterwards it was once more the lack of discipline and the will to make unrealistic daily Profit.......

I cant stress it enough,...... but I KNOW i will do something similar in the future :)........

The important conclusion is the following:

Doing stuff like that can be considered normal weakness,... calculate it and dont do it with bank money,..... maybe one learns it as time goes by.......
By:
Fred!
When: 02 Sep 08 10:09
Whose beloved transparency is it Fred? Anyone that matters?

It probably matters to those that generate the largest commission. Personally, I couldn't trade without transparency, but then I prefer crunching market data to form study.

I think seeing what offers are on the table are what makes this an exchange. (Not that betfair see themselves as an exchange anymore). Obfuscating the market will only move betfair further away from being an exchange.
Page 6 of 8  •  Previous | 1 | ... | 3 | 4 | 5 | 6 | 7 | 8 | Next
sort by:
Show
per page

Post your reply

Text Format: Table: Smilies:
Forum does not support HTML
Insert Photo
Cancel
‹ back to topics
www.betfair.com