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lay the draw

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Replies: 339
By:
paulme
When: 18 Sep 11 22:29
the problem is do more than 1 in 8 games end 0-0?
By:
i-only-lay
When: 18 Sep 11 22:32
you only got low profit due to the fact the goal came after 5 mins.


later goal bigger profit.  profits profit at the endof the day. 5 mins in guaranteed profit Laugh
By:
LordBobbbin
When: 18 Sep 11 22:32
Well, I guess that's what the statistics will tell us. I remember seeing one set that suggested that in most leagues considerably fewer than 1 in 8 games ended 0-0. Couldn't say whether that applies to the Argy sides though.
By:
LordBobbbin
When: 18 Sep 11 22:35
Yes, understood, i-only-lay.   It would probably have been slightly higher had Lanus opened the scoring as well, since they were the home side and started as slight favourites.
By:
Contrarian
When: 18 Sep 11 22:35
LB,

But those opportunities to trade will only be frequent enough, and large enough to offset the times you lose, if the original lay price is shorter than true value.

Now you may be able to find the draw prices that are too short, but simply deciding to lay all (or a large class of) draws on the grounds that you'll be able to back following a goal, is doomed to failure.
By:
paulme
When: 18 Sep 11 22:36
Contrarian - better strategies?
By:
u want some
When: 18 Sep 11 22:37
Yeah come on contrarian give us a better strategy
By:
paulme
When: 18 Sep 11 22:38
1.01 he got none
By:
LordBobbbin
When: 18 Sep 11 22:39
To be honest Contrarian, I was taking a small position so that I had sufficient interest to monitor the prices and see how they were reacting to different incidents in the game.

Obviously long-term success would depend on trying to gauge how likely the 0-0 draw was in each case, and looking for value in the odds. For the time being I'm just interested in looking at the mechanics of how it works.
By:
LordBobbbin
When: 18 Sep 11 22:39
Contrarian won't give you any of his strategies, so don't start that again!    Stick to the topic Paul!
By:
Contrarian
When: 18 Sep 11 22:40
I could tell you the strategies that I use, but having advertised them on a public forum they would lose most or all of their profitability, and I would have to find an alternative way of making a living!
By:
u want some
When: 18 Sep 11 22:41
Usual response
By:
paulme
When: 18 Sep 11 22:42
Laugh pm?
By:
Contrarian
When: 18 Sep 11 22:43
I'm due to pay a 4 figure sum in PC this week, so I don't feel like giving anything else away.
By:
LordBobbbin
When: 18 Sep 11 22:43
Okay u want some. Answer me this - why would Contrarian (or, indeed, anyone else) give you just one of his strategies that he's probably spent weeks, months or even years working on?
By:
u want some
When: 18 Sep 11 22:45
Strategies, get a grip lad.
By:
LordBobbbin
When: 18 Sep 11 22:47
Usual response.
By:
Contrarian
When: 18 Sep 11 22:48
Ok, I'm feeling generous. I'll post a strategy that is GUARANTEED to work.
By:
paulme
When: 18 Sep 11 22:52
I'm due to pay a 4 figure sum in PC this week, so I don't feel like giving anything else away.

then you should wake up every day thanking your lucky stars for your gift. kinda like rooney with the gift of football ability.

Ok, I'm feeling generous. I'll post a strategy that is GUARANTEED to work.

Plain
By:
LordBobbbin
When: 18 Sep 11 22:54
You see the gratitude you're getting from Paul already????
By:
paulme
When: 18 Sep 11 22:54
ok lets give him a chance and thank him for his generosity in advance. that better? Laugh
By:
Contrarian
When: 18 Sep 11 22:55
The strategy is quite simple.

1. Produce a mathematical model of the sport you want to trade.
2. Code the model so that you can place your model-based bets via the API.
3. Refine the model using various machine learning techniques.
4. Switch the software on.
4. Sit back, light a cigar, and watch the money roll in.
By:
paulme
When: 18 Sep 11 22:55
i will be the first to praise him to the hilt if it comes off and will forever endorse him on the forum
By:
LordBobbbin
When: 18 Sep 11 22:56
LaughLaugh
By:
paulme
When: 18 Sep 11 22:56
ah there we go.

another "usual response"

let me in:

[   This image is no longer available.   ]
By:
LordBobbbin
When: 18 Sep 11 22:56
There's certainly truth to what the man says. Not of much use to freeloaders though!!
By:
paulme
When: 18 Sep 11 22:58
anyway back to the topic guys... trying another LB?
By:
Contrarian
When: 18 Sep 11 22:58
The thing is Paul, I'm not joking.

This is basically (although a slightly idealised version) how I make my money here.
By:
paulme
When: 18 Sep 11 22:59
well derr
By:
Contrarian
When: 18 Sep 11 23:04
As I've told you before, Paul, if you're hoping for an easy, quick no-effort-or-thought-required system for winning on Betfair, you're in for a disappointment.

Surely you have realised by now that the profit and loss structure here is a pyramid. There are a few at the top making almost all of the money (Betfair itself at the very top, of course). And the rest of the pyramid is made up of millions and millions of losers. The only way to be anywhere near the top of the pyramid is to do something that requires some sort of special knowledge, skill or effort.
By:
LordBobbbin
When: 18 Sep 11 23:08
Statistics are easy to get hold of Paul. Go here:

http://www.football-data.co.uk/data.php

Download a season's worth of results and see if you can pick out patterns. Them compare them to another season, and another season..  Learn to program a little in Excel and you can quickly create some interesting statistics which the majority of Betfair punters won't have. Then you'll be able to start looking at value. At that point, you'll be better than many of the people you're competing with!

Happy days!
By:
paulme
When: 18 Sep 11 23:11
you'd be at the top of that pyramid Contrarian. everyday must be christmas for you?
By:
brendanuk1
When: 18 Sep 11 23:12
Good strategy if you can pick matches that wont end in draws.
By:
LordBobbbin
When: 18 Sep 11 23:14
0-0 draws Brendan.  As soon as there's a goal, you can usually get out, regardless of the final result.
By:
paulme
When: 18 Sep 11 23:16
that game's 1-1 now. good job we greened
By:
brendanuk1
When: 18 Sep 11 23:19
plenty of games draw odds dont budge or reduce if favourite doesnt score first.
By:
LordBobbbin
When: 18 Sep 11 23:23
Well as i-only-lay points out, choose two teams that are quite closely matched in terms of odds, and the odds on the draw will probably change upon a goal being scored. On occasions you'd end up taking a small loss. Usually, however, there would be a profit.

Obviously he's not talking about matches where one team is vastly superior and is expected to win comfortably. Because then if the unfancied team scores first, the draw goes from being unlikely to being quite possible.  However, it stands to reason that if the two teams are closely matched, a goal for either side would change things somewhat.
By:
paulme
When: 18 Sep 11 23:25
http://horseracingman.com/2008/05/lay-the-draw-soccer-system/
By:
brendanuk1
When: 18 Sep 11 23:27
2 teams with odds above 2 and below 3 (ie closely matched) are quite likely to end in draws. Unless you can pick the value ones you will run into trouble. but good luck Happy
By:
LordBobbbin
When: 18 Sep 11 23:29
And how many of the close matches end in goalless draws Brendan?
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