General Betting
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Total Stake: $1 906,38
Profit (after commission) $224,07
Current results for April.
I'm a small time bookie with my horsehoe upside down.
Glad to hear from any other fellow layers.
Profit (after commission) $224,07
Current results for April.
I'm a small time bookie with my horsehoe upside down.
Glad to hear from any other fellow layers.
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Replies: 232
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Been doing this since March 3rd , not quite matched that.
can't get precise results as can't open the spreadsheet for some reason atm Though stakes (total liabilties) i think around £2,000 , profit is £153.15 started with £100.00 have £253.15 now |
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which is after commission of course :)
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299 Races
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got the figure now and it was
stake: £2,369.65 profit: £153.15 not so good then but pleased with that :) |
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Hi tobermory!
Glad to hear from a fellow bookie! Sounds like you are doing well, am I right that you have around 6% profit? My stats for April are now: Total Stake:$2 044,27 Total P+L: $241,73 |
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6.462 %
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Snapper, according to your figs you are doing 11% RO turnover which cannot be right for laying. Does this mean your total stake is actually total backer stake and not your total liability
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That's the amount I have bet. My liability would be many times higher!
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Your liability is what you have bet
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No, my liability is what I would have to pay if I lose. My stake is what I stand to win.
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NO your stake is your liability, when you lay 100 quid at 2/1 you are risking £200 to win £100, your stake is therefore £200
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what do you call the money I win?
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Profit
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Your figures also need clarification, is that 1 million 936 etc
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sorry 1,906.38p
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Sorry joshua...that is the amount I have laid in bets, not the payout. The profit is around 11%.
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Your profit is 11% on the backers stake but the backers stake is not your stake. Your stake is the backers stake X the odds ie- liability
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Right, I understand what you are saying. I think of it in terms of how much in backers stake I have laid.
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...how much I've taken in, then given back. The difference is 11% this month.
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Thats fine snapper but when taling about ROI for laying one has to be clear about which side of the coin the % refers to. Most layers quote ROI to their liabillity which in your case would be I guess around 2%
Can you clarify the numbers is it 1 million or 1 thousand |
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thousand...I am a small bookie with big dreams!
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Tiger was right about the profit , though i was wrong with the figure , as it is £2,371.15 stake , so profit 6.458%
Snapper i agree with Joshuag that stake=total liabiity , rather than the total of the £2 backer's stakes i have, which would be £800 something. The liabilty per race i count as the biggest red figure at the off , sometimes i will have a bigger red ,which is reduced: eg If i am £10 Red on Horse A and then lay Horse B at the same price , i will be £8 red on both , so i count the £8 as my 'stake' and forget the £10. I usually (prob 70% of races) only Lay 1 horse per race , though that is not from lack of effort to lay a few others :) . The Profit so far seems very good to me as scaled up to £40 Backer's stakes i could make a living off this quite easily if the results were sustained . I am averaging 50p a race with the £2 backers stake so even if 40p per race was the 'true' level that would be £8 a Race and £1600 a month easily acheived, but i would need a bank of £10,000 or more and i have calculated it would take be til around September 2012 to reach that point :( . Depends what the profit using my method would consistently be ; The 6%+ i suspect is unsustainable , for a long time it was more like 4.5% , and thought i was doing very well then , but last weekend had a spectacular run of 30 winning races out of 33 , with the winners layed being no higher than 11/4 . That lucky spell is likely to have skewed the overall stats . Early Days yet though , had a sequence of 131 Races when bank went from £152 to £147 but that was a while ago and i find it hard to believe i could lose doing this over time, depends wether i can win anything worthwhile. |
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TheSnapper 22 Apr 14:13
That's the amount I have bet. My liability would be many times higher! joshuag 22 Apr 14:15 Your liability is what you have bet This is a confusing matter. Taking your liability as the amount you have bet makes sense. However, Betfair calculate your 'bet volume' as the total of your back bets + the total of the back bets you have layed. so backing 1.01 for £3k increases bet volume by £3k. Laying the inverse at 101 for a liability of £3k increases your bet volume by £30, despite the fact that the bet is essentially identical. So calculating the return on turnover as TheSnapper has done is consistent with the way Betfair does, even though it does have some obvious flaws. One way round this would be to convert all lay bets to back bets, which is pretty much identical to equating liability to bet as joshuag does. This also applies to Betfair's own Matched figures on markets. Here is an old post of mine: The Investor 18 Jan 19:39 I don't quite get why the system is set up in such a way that if I place a bet at 1.01 to win 10 it will show up as a bet volume of 1000 and if I lay the inverse at 101 to win 10, it will show up as a bet volume of 10 when the bets are identical. In each case the money that has been matched amounts to 1010. Yet if you look at the two charts after these transactions one will have increased in matched volume by 2000, and the other by 20. Because the amounts matched on selections that are each others inverse will never be exactly equal, the matched amount shown becomes skewed and no longer reflects the true value of bets matched, which would be easy to display. |
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I should add that in some instances where I made a market on illiquid events days before the start of the event, the total of my bets matched equaled more than 50% of the matched figure displayed for the entire market. This is due to cross matching where the above misrepresentation is magnified.
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The book lost yesterday...
Muldoons Picnic crushed all the books, not only myself! Luckily, I wasn't too exposed to it, but still took a solid hit.The horse steamed in from over 10-1 to , what was it 3-1? The stuff bookies have nightmares about! I think it added up to a 13% loss yesterday. April results: Total bets layed $2 204,60 Total Profit after commission $217,82 Profit 9,88% |
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Same here Mr Snapper,that last race ruined an otherwise good day.It's not the first time it's happened either.Those type are eating into my profits,so no more of those for me.
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didn't bet yesterday
was it a NHF? only race type i'm losing on since startred this |
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The Book won today:
Total profit: $25.75 Total bets laid: $228,50 11.26% profit No big wins, no big losses. Just the way a bookie likes it, I guess. A grinding kind of day... |
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38pts taken in bets,28 pts paid back out.10 points profit. 26.3%
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Horse Racing: £39.60 | Tote: | Total P&L: £39.60
Best day since i started :) 22 races Bank now £292.75 |
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Well done Tober.Keep her steady as she goes,some rough seas lie ahead.
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very likely
Stake: £2584.57 Profit: £192.75 = 7.46% :) |
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Well done lads! Keep your horseshoes pointing down!
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April stats for the book:
Total Stake laid: $2 672,50 Total Profit: $254,59 Profit % (after commission): 9,53% |
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§
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Broke even Saturday,to the exact penny !
Sunday 3 points profit,not many bets taken though,so the 3 points equates to 30% Monday,having a blinding day so far,just paid out once in 22 bets (winner was 9/2) |
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Yes, Sunday was an oddly quiet day.. the book still was way up on a small number of bets. Today was going well, then got smashed in a few and it looks more like a small profit day.
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Midnight Gold just took a few points off me.
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Me too! also The Strawberry One rang my bell!!
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