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Hey guys, 2 questions. Had my account for a while but really I'm new to Betfair and only in the last week or so have I started to be pretty active.
1) I understand the concept of "Greening out" so to speak but my question is since we are betting against other people how does this work? Is it that other people are "Redding out" and accepting losses allowing me to take the lower profit early on? Not sure how that works.
2) When a market first goes up how are prices decided? Every market is able to be bet on here on Betfair so are people out there who are laying everything? For example... laying a 6-0 set in tennis, laying under 4.5 goals in football, etc?
Thanks fellas.
1) I understand the concept of "Greening out" so to speak but my question is since we are betting against other people how does this work? Is it that other people are "Redding out" and accepting losses allowing me to take the lower profit early on? Not sure how that works.
2) When a market first goes up how are prices decided? Every market is able to be bet on here on Betfair so are people out there who are laying everything? For example... laying a 6-0 set in tennis, laying under 4.5 goals in football, etc?
Thanks fellas.
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1) There's no point. You will lose long-term. If you don't lose, Betfair will forcibly close your operation by charging you 40% or more.
2) Don't bother betting. You lose long-term.
2) Don't bother betting. You lose long-term.
Don't worry yourself with all this because betfair will be on the other side of the majority of your bets.
They will get ALL of your cash either via:
- commission;
- premium charge; and / or
- matching the opposite side of your bets in "Orwellian" fashion
- commission;
- premium charge; and / or
- matching the opposite side of your bets in "Orwellian" fashion
So Betfair will at times bet against you yeh? And Mr. Angry with the first question I was basically checking if I wa right in saying that in the case of somebody "greening out" they will be winning money off somebody who has "greened out" at a loss?
Tom, the short of it is that Betfair want you to lose. SO just bet any way you want and enjoy yourself whilst losing it. Or don't bet at all and keep 100% of your money.
Tom, you've probably noticed that you haven't picked a very good week to be asking about things Betfair. Emotions are running rather high just at the moment..
When you green out, the people taking the other side of your trade could be accepting a loss on their current position. Just as easily though, they could be taking profit on their own position. If you had backed something at 3.00, and somebody else had been laying it at 2.00, you could both deal with each other at 2.50 and be looking to profit from the transaction. And the other person might not be closing out their position at all - they might be opening up a new position at the same time that you're closing yours.
In short, the other person isn't necessarily losing when you profit. They're just taking the other side. That might work out well for them or not. Either way, it's not really something you should bother thinking about.
When you green out, the people taking the other side of your trade could be accepting a loss on their current position. Just as easily though, they could be taking profit on their own position. If you had backed something at 3.00, and somebody else had been laying it at 2.00, you could both deal with each other at 2.50 and be looking to profit from the transaction. And the other person might not be closing out their position at all - they might be opening up a new position at the same time that you're closing yours.
In short, the other person isn't necessarily losing when you profit. They're just taking the other side. That might work out well for them or not. Either way, it's not really something you should bother thinking about.
Poor tom! I think lord bobbin covered it quite well.
A few pointers:
- Have the 'what if' function selected, it shows you the consequences of your intended bet.
- Always check your bet before submitting to the system, sometimes the interface or your browser can change numbers without warning.
- Always check you are in the right market before submitting a bet. If the price looks wrong, check that you are not wrong!
The reason for the comments above are due to betfair imposing extortionate taxes/charges on peoples accounts who they claim are winning money without giving enough to betfair. I know, the cheek of it! There are specific types of users which are actually draining the pool (regardless of how much betfair earn from it) and this charge addresses this so far as it benefits betfair but not me or you. However, betfair have netted plenty of people who, in the future, may turn out to not be the intended profile for the charge. Thing is, they could have already paid out a hefty sum in charges which are non-refundable, should they be deemed un-necessary at a later date. Its quite a high threshhold to meet for someone new though, so don't worry about it just yet. Just remember that if you do become successful and your betting fits a certain criteria/pattern, betfair will take up to 60% of your profits. There are thousands of posts about it, enjoy.
Above all, be careful on betfair, its a minefield for new users, but there may still be scope to win some good dough!
A few pointers:
- Have the 'what if' function selected, it shows you the consequences of your intended bet.
- Always check your bet before submitting to the system, sometimes the interface or your browser can change numbers without warning.
- Always check you are in the right market before submitting a bet. If the price looks wrong, check that you are not wrong!
The reason for the comments above are due to betfair imposing extortionate taxes/charges on peoples accounts who they claim are winning money without giving enough to betfair. I know, the cheek of it! There are specific types of users which are actually draining the pool (regardless of how much betfair earn from it) and this charge addresses this so far as it benefits betfair but not me or you. However, betfair have netted plenty of people who, in the future, may turn out to not be the intended profile for the charge. Thing is, they could have already paid out a hefty sum in charges which are non-refundable, should they be deemed un-necessary at a later date. Its quite a high threshhold to meet for someone new though, so don't worry about it just yet. Just remember that if you do become successful and your betting fits a certain criteria/pattern, betfair will take up to 60% of your profits. There are thousands of posts about it, enjoy.
Above all, be careful on betfair, its a minefield for new users, but there may still be scope to win some good dough!
It's easy to spot the stooges when Betfair does something unpopular.
Is a stooge someone who attempts to answer the guys question instead of ranting about the PC?
The OP? Am I answering questions from betfair about betfair?
Lay the fav in every race, when that doesnt work, back the fav in every race, when that doesnt work just bet for a bit o fun.
Why is he a stooge? Is MrAngry completely paranoid .. is he a Feck sock puppet?
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