General Betting
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03 Jul 11
10:05
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Date Joined:
15 Apr 02
Betfair have all the costs of ,developing the idea, initial set up costs, IT maintenance and upgrades, staffing, advertising and promotion, legals and licences, administration etc etc.
All you guys have to do is fire up your computer 24/7 and your business is all there literally in your lap.
Betfair are now suggesting a maximum of a 40:60 profit split.
Seems like a bargain to me.
Oh...Don't forget you are also guaranteed immediate payment, no bad debts and no income tax!!
You want to get out into the real world!
All you guys have to do is fire up your computer 24/7 and your business is all there literally in your lap.
Betfair are now suggesting a maximum of a 40:60 profit split.
Seems like a bargain to me.
Oh...Don't forget you are also guaranteed immediate payment, no bad debts and no income tax!!
You want to get out into the real world!
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Replies: 52
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And no, this is not me sh!t stirring under a different chatname.
But all the same I am jealous that I didn't post it up. |
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people are blowing up out of principle, rather than the effect it will have on them??
I set up an account at betd** last night, will I bet there? you bet, not as much liguidy but in the markets that have the $$ I'll bet there out of principle, How many others will do the same?? |
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IT maintenance and upgrades
johnny this would also now include high frequency bots that are ready to hoover up your bet on a faller in racing, your bet .5 seconds before the suspend on a goal in soccer etc etc. maybe we should start calling you Johnny 7 OMA (one man army)......just johnny versus the betfair bots....a fight to the death...!! |
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Aha, thought it was about time we heard from JTG, the betfair plant with the same tired old crap.
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1st...betfair said it cost was 20% now it 40% to 60%... to get only 40% of profit but 100% of losers, is not a risk i will take
2nd...the fact that betfair business model needs 40% to 60% of eveyone money to make a profit means betfair is f-cked anyway |
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befair get rid of the course and track side players and every one thinks they will be better off,only trouble is betfair have there
own team of traders who will hoover up so joe publick is going to be worse of not better . |
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I can understand people moaning about it, it's clearly not good news for a number of people. That doesn't mean its not the right thing for betfair to do and I haven't seen any reasoned cases made that is isn't so.
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cat, are you really, really, really sure you don't hold betfair shares?
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anyone that thinks the tax is right,has no idea about gambling
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I'm still waiting for the poker sites to come up with that line of reasoning, and for them to take 60k off one of their most successfull players because they win 100k during a month
 after all these people are draining money from the site at relatively low cost, they need money for advertising etc etc, and all the other crap that betfair regurgitate. |
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"That doesn't mean its not the right thing for betfair to do and I haven't seen any reasoned cases made that is isn't so"
There have been hundreds, you just tend to ignore them all. |
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Saying that poker sites don't do it isn't a reasoned case
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Of course it is, they survive and make fortunes without needing to do it, so why can't betfair?
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turtleshead...this was the veiw of casinos about poker before poker become a hit on TV...
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You've said that before nairda, but before poker was on TV casinos used to add large chunks of money to prize pools.
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Until about 2001 (When Paradise was ruling the world) pretty much all poker tourneys in this country carried a guarantee that was either unlikely to be met, and/or was just a sum of added money to the total taken.
There were no entry fees, you just paid for what the tourney cost. Around 2001 after some LNP series and after the success of Paradise 10+1 tourneys, this changed pretty rapidly. |
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where when did this happen...maybe at some small p!iss ass casino in england...you may have got this in england, where there was rules and law on how many slot machines and BJ table casino could have, but in the casino world where there was no shut law , you not even get a free drink of for you $110 buy in
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Everywhere in England and Scotland yes.
You'd get a free buffet for a few hours of 3/6 in the Bellagio in '99 although the rake WAS huge I concede. |
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Bellagio was special case...it was 1 of not many casinos in the world where you could win money of the donkey and the casino manger not act as if you just steel the money fron the casino it self
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turtles, I think we'll have to agree that we have different standards for what constitutes a reasoned case.
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Betfair are now suggesting a maximum of a 40:60 profit split.
Seems like a bargain to me. At least Johnny was honest about his username. Great fishing by the way... |
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iz77778, the fact that you take my stance on the pc as evidence of my being a shareholder by implication means that you think the changes benefits the shareholder. Making changes that benefit the shareholders is what people in charge of running a company are expected to do so in a roundabout way you are justifying their actions.
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What, seeing lots of markets empty because nobody in their right mind would want to risk their money for 80% of the profits (let alone 60 or even 40!) is in the interests of the company
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The real world? Who in the real world does a job where the odds of success suggest they're almost certain to lose most or all of the money they put in? The people who win significantly in Betfair have very much defied the odds. For now. And even if they're currently doing well, there's no guarantee of future success, which is why it's not unfair of them to gripe at having to give back 60% when they're taking on such a level of risk.
Betfair, on the other hand, have a system that's continuing to make them money month in month out. If exchange activity is going up over twice as fast as their revenue, perhaps they should be looking to drop markets that are proving too expensive to run, or maybe they shouldn't be wasting money on so many bells and whistles. Or perhaps they should just be happy that they're continuing to make more and more money in these far from prosperous times. Their current strategy has a fair chance of putting their golden egg layer at risk. |
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And even if they're currently doing well, there's no guarantee of future success,
In most cases that's not true and even if it was the people in question would just stop rather than lose the money back. |
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It wasn't me that said it [:p]
Do you really, honestly believe that the markets are going to be empty because of this? |
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That was for turtles :)
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catfloppo, it's already happened on many of the smaller markets, due to the current pc, have you not noticed?
Hardly stretching the imagination to see that continuing, is it? |
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No, I haven't but then I don't look at the markets very often. Which sports do you think have altered?
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Of course markets will be empty (unless betfair seed) because of this, that's why half the markets vanished last time!
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Liquidity on the US Horse Racing markets certainly seems to have fallen in the last few days. Some races last night ended without a single bet being placed.
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Massive drops in liquidity in things like Leg/Set betting in darts/tennis. Correct scores in snooker.
Markets where you are probably not going to fill in a whole book and so paying 20% extra the times you win simply became not worth fighting the bots over anymore. |
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Which sports will theoretically be most impacted by " big winners" withdrawing/reducing their current support/usage of the site ?
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Lori, my bot plays on snooker correct score. We may have done battle!
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Post crossed with last one from Lori.
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Interesting cat, I've posted about the snooker bots several times!
One day when this is all done I'll go through the two main types of snooker bots and my attempts to beat them both. (One very successfully, one is pretty much a draw and always will be - suspect the latter is yours) |
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lori id love someone to explain how on earth you go about creating a bot?
is it purely people who are computer whizz kids that are capable of using these? u hear many people on forum say that bots are gtd profit makers, in which case surely wouldnt more people do them? |
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they sometimes go wrong which is always nice when it happens if the wrong info is programed into them telling them to do the wrong thing.i have on occasion had some nice touchs when this happens and have no sympathy at all when this happens and love to give them a good bashing for all the times they have jumped me in markets.
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they sometimes go wrong which is always nice when it happens if the wrong info is programed into them telling them to do the wrong thing.i have on occasion had some nice touchs when this happens and have no sympathy at all when this happens and love to give them a good bashing for all the times they have jumped me in markets.
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