Who are the 1000/1 merchants?

Private traders. They get matched by other punters who want to free up their money to use again before that market's settled.

Trev,

Struggling to pick this up!

If you lay 1000/1 on 0-0 when the current score is 1-0 how do either you or the foolish backer free up money.

You are tying up say 5k and the backer is just throwing a fiver away.

some backers will do this at certain times so they remove exposure from their accounts and then go on to use the funds for other bets

Free money for the 1000 layer, who will attempt to do this many, many times a day and the backer, has as been said, will be freeing up funds to use again either because they're full bank committed or they are just prepared to pay that premium to release their funds.

They people doing this have technology to get first in the queue.
I really can't imagine they make a lot though. Getting queue position in match odds after a goal is 1,000 times more valuable.

Suspect they do pretty well Investor, although I think the impact of mistakes is probably understated.

on jumps racing, especially a favoured horse, if it falls watch the matched column and I don't mean the initial hoovering money that is matched, but more that gets done as the race is progressing.  Being first up at 1000 on a horse that cannot win looks a very valuable position to be in

except when all the others then fall and the jockey remounts...

but generally it's 0.1% interest for a loan lasting less than a couple of hours. and in fact much more because you'll also lay the other impossible scores without increasing your liability.

sometimes they'll get nothing at all matched though.

Lori, the thing is, I really can't imagine them making more than a couple of tenners a match, and it requires 'labour' to operate. Too dangerous for a bot to do on it's own I think.

A couple of tenners a match would make you a fantastic living if you could achieve that on just 50% of in play matches - probably around 100k net profit in your pocket per year even after being hit by the super pc.

Yeah Trevh, that's assuming you always get queue position. So if many people are trying to do the same thing and are each succesful some of the time, they split those couple of tenners. Covering all in play matches would also require a few hundred grand of capital.

If you can get queue position in match odds, you can get a few hundred k matched after a goal with between 1 tick and half a tick value if you have qpos. Those guys probably make more than £100k a month.

Do these guys experience the usual 6/7 second delay?

I think there's more than a couple of tenners per match.

Usually three figures on 0-0, or was in the days when I used to check. Very possible people are less desperate these days.

Remounting is no longer allowed.

I don't keep big bank. I don't like my money tying up for another 10min or 30min as I use same money for another bets. So I do like 1000 layers who help me to free up money. It also gives me satisfaction.

they are welcome and their services are  valuable. (I am not talking about falling horses and I dont bet on horses)

Surprised U25k, I thought that the only winners that did that had tiny banks.

If you can afford to throw money away like that, you need to scale up pronto, especially as your profits are large. Probably costing you more than 20% on capital per year if you do it frequenty.

The only time I'm willing to pay .1% of capital to free it up is in longer term markets, certainly never in something that will settle in an hour or two.

This "facility" is there solely to absolve betfair of any responsibility regarding taking bets that cannot win. Incredibly, but not surprisingly, they have the blessing of the disgusting GC on this.

I'm with you on that Feck. It simply can't be right to facilitate bets being taken on literally impossible events. The argument about enabling people to free up funds is weak and irrelevant.

Investor, i think some winning punters just like their finger on the pulse so are prepared to pay the cost , i think it's a waste of money myself ...unless it's at the start of a game

Date Joined: 28 May 07
| Topic/replies: 2,310 | Blogger: the silverback's blog
I'm with you on that Feck. It simply can't be right to facilitate bets being taken on literally impossible events. The argument about enabling people to free up funds is weak and irrelevant.


It's useful in long term markets. Other than that I agree.

Always assumed it was the hooverers using the 1000/1 to disguise their hoovering on the graph.

£238 matched at 1000 on impossible scores in the correct score market of Real Madrid v Barca just then, so £119 minus PC2 at 60% =  £47.60.

Feck N. Eejit
14 Aug 11 14:54 Joined: 10 Jan 02 | Topic/replies: 4,731 | Blogger: Feck N. Eejit's blog
This "facility" is there solely to absolve betfair of any responsibility regarding taking bets that cannot win. Incredibly, but not surprisingly, they have the blessing of the disgusting GC on this.


would be interesting if someone tried to get one of these bets voided by the gambling commission?

I asked the GC to void a bet laid by the owner of a 'non-trier' that was turned over on appeal..

THEY SAID NOW AND THAT THE OWNER WAS PERFECTLY ENTITLED TO KEEP THE MONEY HE HAD NOTHING WRONG ACCORDING TO THE GAMBLING ACT..

they also confirmed (in writing) I was was perfectly entitled to lay my own horse when every I wanted....

they said NO

not "NOW"

Investor - I don't like to keep big bank as my betting style makes it to lose the lot in losing runs. By restricting amounts available at certain times I restrict my losses in losing runs. In good runs I do up stakes and keep more money available therefore maximise profits in good runs.

Possibly I may be throwing upto 100 pounds in a month like this but it does give me some benefits. The important point here is after considering ups and downs it works in my interst to continue freeing up money as soon as it is possible. Ofcourse I do this only when I need money to invest in some other bets which gives good value for my money.

u25k

have you considered what APR you are paying for your lack of discipline?

- seems like the store card model for desperate shopaholics.

Have liked many of your posts over the years - surely you can see the crazy tax rate you pay for this service?

u25,

How does laying or backing a 1000/1shot free up money?

I can see what u25k's saying. it's not indiscipline, it's the potential for typos - which you can never totally eliminate.

putting most of your money out of harm's way in scenarios where you're putting on lots of trades quickly makes eminent sense to me.

mrbojangles, if you have laid something for a liabilty of,let's say 2 k, you will remove that liability by backing it for £ 2 @ 1.000

thanks viva

everyone has their own style and pattern of betting. What matters is long term success using that strategy. Only those who can understand different approaches possible in stake discipline can understand my point of view.