General Betting
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Hi folks,
Enthusiastic first timer on Betfair. Started with £100. Going to try and win 1% every day for two years. Don't want to mention the amount that would turn into incase its jinxed. Never going to risk more than 5% of bank, and daily targets will be small enough in relation to bank so that I never get into trouble. Will probably fail, but gotta try things in life.
Wish me luck
Enthusiastic first timer on Betfair. Started with £100. Going to try and win 1% every day for two years. Don't want to mention the amount that would turn into incase its jinxed. Never going to risk more than 5% of bank, and daily targets will be small enough in relation to bank so that I never get into trouble. Will probably fail, but gotta try things in life.
Wish me luck
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Won't keep this thread up for more than a month NAP.
100 x (1.01 to the power 830) = 386 135.952 |
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100 x (1.01 to the power 730) = 142 758.791
Apologies. |
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you are barking up the right tree, who wins the moral tale called "the tortoise and the hare?"
you can make 1% in every race if you trade, little risk and assured growth, if you bet at risk to hope for edges then your path is looking more uncertain, I personally reckon that the vast majority of the enlightened top 500 winners on betfair are traders . |
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betfair has had the opportunity of making up to 5% on all trades/bets and has become a giant
they make only 2% out of the top 500 winning events/trades and then cant make repeat commsions on the many millions withdrawn so from a business purists viewpoint the premium charge had to emerge and is quite a good mechanism and inline with nearly all sporting exchange inovations. |
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What does NAP mean?
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Betfairs favourite son has popped in to defend the PC again, when it wasn't asked for. Nice thread wrecker. Wasn't the PC put in place to deter the bots that put in 1000's of transactions a day ? What about the guy who is just good at betting and trading, doesn't use a bot or something like Gruss or betangel. Places several, but not 1000's of bets a day. Why should he pay the PC.
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How can the average joe placing a few bets a day ever hope to need to pay the pc2?
also the bots you refer to placing thousands of bets are infact trading bots. |
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spalding2011 11 Dec 11 17:10
What does NAP mean? NAP = Not A Prayer hth |
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bff, how can anyone take you seriously now ( not sure if anyone ever have though).
The first thing you do after joining up here is eagerly defending PC on the forum, but after a couple of months you do a complete turn and all of a sudden you think PC is wrong - and now you are back to defending it again !!!!!!!!!!! And you have also been told by several people on here that traditional gamblers/position takers can be caught by PC3. I'll give you one thing though. There are probably more traders caught by PC3 than there are traditional punters/position takers. |
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Eddie - I have always believed in freedom of speech.
Then bff appeared on the scene. Now I find the argument against it quite persuasive! There is no topic upon which he will allow his complete ignorance of the subject matter to deter him from offering an opinion. An absolute fruit cake (Nap & Nb) |
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The Lib Dems have more credibility on tuition fees than bff has got on the Premium Charge.
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Do you not think that "good economics" should be expressed in the charging system employed by a sporting exchange or is that only allowed in the personal pusuits of betfairs many users?
most of whom incidently will never pay such charges Lets be honest, unless your a recreational betting purist we are all including betfair here to make money but in that race from ground zero to where we are now ahve the major players that have many bots populating and adding liquidity to nearly all markets winning this race ahead of betfair? We are not privaledged enough to know the true extent of the top 500 traders profits but in certantanly will be a huge some of money and considering its betfairs success that encorages new customers with the investmet also required in advertising and services paid for by betfair out of its limited resources, if I was betfair I would want to break more than even with these players whom must generally be trading bot enterprises. netting 40% of huge sums of money is far better than getting thrown off the system as in the real world you have to pay your way and even if clever and sucessful you are not ever going to be imunes to paying the correct amount back into any economy you work or play in. |
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^ I cannot be bothered to read that because I know it will be drivel. Keep your drivel concise please.
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remember betfair only make a net profit from a margianl profit that has to take into account all the infra-structure
upgrading and upkeep along with paying wages, advertising costs, new product design and a whole host of other bills along the road they have come down, if betfair cant prosper then not only would betfair lose then we would lose something very dear to us with no replacement "as good as" on the horizon, and please sdont mention the other place as thats nothing but a cheap clone. |
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^ a bit more concise but still too long, have another go please. Ideally if you could get it down to about four words, I would try to read it.
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lol
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Is you from Bar-thelona?
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I must admit I am probably the best and most infamous thread wrecker in the forums history
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4 words, sort of.
Betfair greedy, PC bad Pc is intended for the data hogs. Charge them. Leave 1 click bettors alone. The 5% commission is what is supposed to pay for company expenses. BF never contemplated bots and tons of data usage. Things were fine before the bots. BF does charge PC to little one finger users like me. They have to expand their exclusion zone. |
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Let me get something straight. I'm not paying PC now because I had a terrible run, I did pay PC1. A couple of good months, I'll be paying it again. I think.
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The subject of who should be charged based on type of activity is a good debate but it would then be biased and
how do you determine the type of player when you can easily throw zero loss bets in to conceal your account betting profile, churning is an example of how certain players try to avenge the pc2 charging system in their favour. All big players should be charged at the same rate without any bias to player type. |
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surely the general message from the charging structure to the few that will pay it is increase your activity and profit margins organically thus adding more liquidity and money for betfairs, cushty
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SS - PC1 (introduced in Sept 2008) was a complete shambles - it took them a year to admit that it should have been lifetime profits. A whole fricking year.
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like a certain paper once quoted "betfair welcomes winners with open palms" funny but quite true.
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anyone familar with the concept "runaway profits", this was the doctorine of the banks pre-credit cruch and look what happened with that!
Now no matter how many big players emerge and make what ever piles of endless profit, betfair can apply charges that allow betfair to stay afloat! |
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plus betfair can spend the money on giving everyone else a better service and afford to give free money to new customers in the form of promotional offers as other companies have more advantage to do this by charging 25%
effective service charges before you even win a bet via crippling over-rounds. |
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try going into any bookmakers and asking if you can make £250,000 profit with 101% over-round before you give them anything back, you will be lucky to make a couple of grand at 125% over-round before your banned from every shop they own!
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What's your take on BF holding 300+million of client's deposits and not paying any interest on that. I know it's in a ringed account, but surely BF must be making money on that. I just had a quick look at their financial statements and can't find their gain, but I'm sure it's there somewhere. A nominal 3% gain would be an extra *Free* 10 million in the company pockets. I'm not up on English accounting procedures, but is this cash grab an acceptable thing ?
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If your refering to customers money being better off in a bank account then that makes obvious sense, but then again no bank can offer you 1% interest a day as you are going to try to make in your embarkcation, the fact there are so many winners and the top 500 are so big(plus £250,000) is much more an incentive than a bank account to all betfair customers.
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Imagine a bookmaker offering a gauranteed 0.01 % profit per day, the same as the bank, thats no interest what so ever in watching a tv on the wall growing a whisker a day and you would need to invest £100 for at least a week before you get a free coffee lol.
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Two poker sites used to pay 10% interest on accounts.
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And on that subject, banks, is money safe in them when they award there bosses huge wage increase for screwing up the companies future and the world economies, "hot potatoe".
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lori, poker sites charge 10% for all games so thats not a good example really.
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They even paid it on winning accounts, Betfair charge 20%+ on winnings so it's a fine example.
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You could deposit $10000 and play about $100 worth of tourneys per month(paying $10 in rake) and get $1000p.a
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Still standing
11 Dec 11 18:34 Joined: 05 Jun 04 | Topic/replies: 227 | Blogger: Still standing's blog 4 words, sort of. Betfair greedy, PC bad Pc is intended for the data hogs. Charge them. Leave 1 click bettors alone. The 5% commission is what is supposed to pay for company expenses. BF never contemplated bots and tons of data usage. Things were fine before the bots. BF does charge PC to little one finger users like me. They have to expand their exclusion zone. The premium charge has nothing to do with bots or data usage which have already been tackled by the transaction and data charges. Pc is aimed directly at users who pay only a small amount of commission relative to their profit. Of course, some of these may be bot users. As someone who is prepared to defend at least the principle of the pc I am disappointed to learn that bff has changed camp again. |
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more people win on betfair, a recent report ststrted that in america they only have around 80 professional punters, well considering that legal squash poker sites and betting products other than the senators wallet filling casino giants, betfair has 1o time the aadvantage to gamblers that the american system can offer, pc or no pc pretty impressive stuff by betfair.
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Americans can't bet on Betfair
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They also have substantially more than 80 pro punters.
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