General Betting
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19 Jan 12
01:13
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Date Joined:
28 May 11
After being referred to a trader my bet of just under £1k on Chelsea to beat Norwich at 2/3 (1.666667) was accepted in full last night. The Betfair spread was 1.66-1.67 at the time.
I noticed a while ago they were taking more than the customary £50 I seem to have been limited to before.
I noticed a while ago they were taking more than the customary £50 I seem to have been limited to before.
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CHELSEA TO BEAT NORWICH @ 1.67
  THEYD OF TOOK 10K AT THAT JOKE OF A PRICE NO DOUBT |
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No, in fact they've shortened it to 1.61 now.
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Maybe you've had your card marked as a market mover - they like to keep a few around to keep their pricing teams on the ball!
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They might have taken bets on the other outcomes and you helped them balancing their book ?
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i have layed them at 1.66 with 1k i reckon price will drift
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A bookie getting plaudits for laying a grand at 4/6 in a Premier League match just highlights how low they have sunk.
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investor
is no ordinary punter |
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i no investor is rich guy but surely chelsea should be nearer to 1.8 spurs came here a few weeks back and opened at 1.95 and there better than chelsea
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Awful price, no shock at all that they took it, they'd have probably taken a much bigger one.
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Two people are going on about what an awful price it is, yet Chelsea have come in. Why aren't you guys laying the crap out of Chelsea on Betfair as smithy has done.
If the price is so awful, Chelsea should drift on here, and you'll make a fortune  |
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And I've layed Chelsea 1.62
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Good call Investor you old trader you.
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Investor its a free for all at hills on the sport i bet on in the shops,6000/500 4000/800 2700/600 etc etc etc,all referred of course but hardly a bet cut in about 4 months in shops.
They have gone the exact opposite to joes who have more or less pulled up the drawbridge on having a bet,hills are trading very aggressively and judging by the figures they have posted about 4th quarter growth are seeing the benefits of it,fair play to them. |
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tho tbf they are genuine bets also
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the investor are you getting worried about youre bet now 0-0 score now
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HOW IS THAT 1K BET AT THE MUG ODDS OF 1.67 LOOKING?
FUNNY YOU WERE SURPRISED THEY TOOK 1K AT SUCH A JOKE OF A PRICE. 1.67 ON AN EVEN MONEY SHOT........... SHREWD |
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have people forgotten how to read. Investor said he backed it at 1.666 and layed it at 1.62. why does he care what the result is when he's locked in a profit.
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I-only-lay you clown, investor is a shrewdie and like UA says he's done it for trading
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THEYD OF TOOK 10K AT THAT JOKE OF A PRICE NO DOUBT
_______________________________________________________ TheInvestor2 19 Jan 12 01:36 No, in fact they've shortened it to 1.61 now. |
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loved the retort there investor lad- hope you laid off that bet incidentally -i got stung on them too
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They were still cutting my horse bets to 10GBP last night. In the shop they lay up to the PTL, but I think this is because of the manager is following me in.
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have had a very good run with getting all sorts of bets on with them recently, but then most have been losing.....
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good call investor i layed at 1.66 and backed chelsea in play at 1.66 to break even as i called it wrong. thought the price would drift but obviously not got out unscathed though
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yeah, coach I laid it off, I made virtually all my profit for the day on the Chelsea game.
Nice work smithy, can't believe how long it took for chelsea to start drifting. They went off at about 1.61-1.62, and 20 minutes in at 0-0 the price hadn't moved an inch! |
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Hang on, so you backed them at 1.666, laid them at 1.62 and paid commission on top, exactly how much profit did you make? Must have been literally buttons!
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TheMaskedAvenger, I get any commission I pay back in full in the form of reduced Premium Charges.
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If I could back an evens shot for £10k with a bookie and lay it here at 1.99, it would make sense to do so.
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But surely you could end up paying even more if the bet wins here?
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Hi there smithy91.
You said you let the game go in-play and then traded out. It can be very dangerous to do that just because a price has not gone in the direction you want it to. I do hope that you made that call based on your liability being a very small percentage of your total bank and worth the risk, rather than out of frustration of the prices not going the way you want them to and not wanting to take a loss. Good luck. |
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TheInvestor2
22 Jan 12 01:03 TheMaskedAvenger, I get any commission I pay back in full in the form of reduced Premium Charges. Sorry, but I don't get that ? Backing with a bookie and laying off here, how can that reduce Premium Charges when the lay on here is a winner ? |
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Eddie / TheMaskedAvenger,
The following only works if you expect your activity to keep you in PC territory in future. If I back £1000 at evens with bookie, lay here 1.99, there is a risk I win here. There are two ways to solve the problem this risk creates: 1) You can work out the exact positive value of losing on here (negative value of winning on here) and adjust your stakes on one side. This explains the principle: If I bet £1000 with bookie and £1000 here, I want to win with the bookie. If I bet £100 with bookie and £1000 on here I want to win with Betfair Somewhere in between these two is an optimum stake where you don't care where you win. 2) The other way: Let the law of large numbers work for you: If I back £1000 evens witah bookie and lay £1000 1.99 here, there is a risk I win here, and end up paying more. If I do similar transactions 10,000 times this risk goes away, because even though I might win more here than with the bookies, it won't be so extreme that this activity on it's own would pay PC. Regarding point 2, you might not be able to do the number of transactions required, but point 1 works even for a single transaction. |
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Perhaps I should have said "I get any commission I generate back in the form of reduced premium charges."
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I kind of understand point 2, but can you clarify point 1 a bit more please?
The way I see it, if you are doing it for a single transaction, it should surely matter where you win as you will get pc to a greater or lesser extent if you win on betfair, no? And if you bet £1000 with a bookie and lay £100 with betfair at simmilar prices, you must be taking a pretty big risk that you will lose money with the bookie, surely? |
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Here's an example of a bet:
if win with bookie: Bet Event Date Odds Offset Odds Back Lay Comm. Book Profit BF Profit Profit Draw 23/02/2011 3.32 3.3 £4,263.00 £5,530.00 3.0 £9,890.16 -£12,719.00 -£2,828.84 if win with betfair: Bet Event Date Odds Offset Odds Back Lay Comm. Book Profit BF Profit Profit Draw 23/02/2011 3.32 3.3 £4,263.00 £5,530.00 3.0 -£4,263.00 £5,364.10 £1,101.10 winning with the bookie is still better than winning with Betfair for a PC payer, even though it leads to a £2.8k loss and the other one to a £1.1k win. This is due to PC consideration. Fiddle around with the staking until the point where you don't care where you win... |
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I requested £10 on a horse @ 16/1 a couple of days ago.The bet was "referred to a trader" and I was offered £2.50 ! So the answer to your original question is NO.
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artie
artie 22 Jan 12 13:38 Joined: 12 Sep 01 | Topic/replies: 1,792 | Blogger: artie's blog I requested £10 on a horse @ 16/1 a couple of days ago.The bet was "referred to a trader" and I was offered £2.50 ! So the answer to your original question is NO. I thought the minimum stake was a fiver with all books?? |
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Investor2: "I made virtually all my profit for the day on the Chelsea game".
Even if there was zero commission to pay that trade is going to make you less than £30. I assume that you did a couple more trades on the Chelsea game as I can't believe that £30 is a decent day's profit for a punter of your calibre. |
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artie
22 Jan 12 13:38 Joined: 12 Sep 01 | Topic/replies: 1,793 | Blogger: artie's blog I requested £10 on a horse @ 16/1 a couple of days ago.The bet was "referred to a trader" and I was offered £2.50 ! So the answer to your original question is NO. try getting off your hoop and go to a shop? |
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lol, yes DivideByZeroError, the over/unders are my main area, which is where I made a bit more than £30
 I'm down for the weekend though, as I had a huge loss (my 3rd biggest ever) on the Man City match earlier with 3 goals in 4 minutes. |