AT LAST BETFAIR GET SOMETHING RIGHT

NEVER GOING TO HAPPEN. TOO GREEDY BY FAR.

THEY EVEN STEAL PENNIES WHEN SETTLING BETS. ON TOP OF THIEVING WITH A CROSS MATCHER.

BF has quite the little money maker going.

Free interest on their massive amount of deposits on hold, cross matching, hoovering before suspend, commissions, extra commissions for extra pennies, PC.

Not quite like money growing on trees, but not too far off.  All that, and they're presently scheming up ways to get more.

Business in 'trying to grow profits' shocker.

To be fair, I thought this was going to be about SP in football so maybe it's 2 things right.

It's one thing trying to increase profit and another taking the piss and abusing a monopoly position. Betfair are a million miles from what they set out to be and it's all down to greed and milking their customers for every last penny.

I'm not that bothered as I mainly arb and trade and can use Matchbook for that. For example I backed Barcelona match odds at 2.75 and layed off at 2.48 at matchbook with 0% commission offer until April and after that it's only 1%. Why pay 5% up to 7.5% with betfair and on top of that have a disgraceful, sneaky PC 22.5% (which they call 20%) to look forward to. It's just a shame Matchbook don't have as many markets.

5 seconds is good if they can do it.

I got minorly hoovered in the everton game at the weekend, though.

5 seconds is fantastic. Half time should be 2 seconds IMO.

I think with 5 seconds it's only a matter of time before we see a major hoover in a big game which closes the markets as Betfair clean up the mess, so time will tell if it's worth it.

Well when will they make there mind up,sometimes 8 sometimes 5,and sometimes we have a little of both.

I once met a trader who went big on taking laid positions, several markets on any one football game.

I sat with him once as he watched how the game progressed.  He had an automated trading /custom which sold each market he was in and two figures - how much if he traded out 'even' regardless of his result and how much if he simply closed his position 100% (i.e. laid £1,000 and would back whatever remained up to £1000).

He would watch the match, watch the corners and free kicks, etc, watch for signs if a goal was coming.

Sometimes, he would close a couple of markets.

Sometimes none then, the extreme, go with his gut and close them all, the clock ticking down (5 seconds then, I believe).

I witnessed a 1-2 match where he had held his nerve, 100% lay against the draw, laid over 3.5 topped up after an early goal and 2-2 topped up inplay.  Around £8,000 would be lost if there was another goal (this was net after his other positions).

As the keeper made a save, the ball went to the corner and there was around 5 minutes left.  As (I believe) Liverpool rushed to take the corner, he hit the 'big button' which would take whatever he had to green out, probably a combination of 4 or 5 markets.

Sure enough, as he matched, a goal went but he was clear and his account looked much nicer than if he had hesitated.

When we looked at his matched bets, because of the volume on 2-2 and 3.5 market, a huge downward spike was there since it took several tiers to match everything to get out.  The draw wasn't that dramatic because of the volume though, from what we could tell, several layers pulled out their money just before the corner and a push took place on a goal.

For the next two days, people posted how they had been 'hoovered' just before the goal.  I made a comment on what I had seen and I got bashed for defending the hoovers and doubts on what I saw had any affect, etc.

So the same question I posted then:

Was his actions, prior to the goal based on his analysis of the situation 'hooverhing'?  No it wasn't. 

Though, yes, there are those who 'hoover' but if a tennis match is about to finish and you have left a bet up, someone will take it.  They've done nothing wrong.  You got the odds you asked for. 

People need to go in with eyes wide open.  Assume someone is faster and once you take that on board, you'll position and bet/act/position accordingly.

One survivor's opinion

Yeah if someone takes me out for 5 or 6 ticks just before a goal I will assume I've been hoovered, because I only get taken out for 5-6 ticks just before a goal when there is subsequently a goal.

If some guy comes along and does that by chance like your friend above, that is extremely rare (a hell of a lot rarer than an actual hoover occurring).

It might be rare but those spikes are there, whether a goal goes in or not. 

I trade some of the less volatile markets and I remember trading a goal market and when the layers pulled out and I went to close, my £30 required to close went from around 19 down to 16 which, when the goal didn't go in and all the layers reappeared at 19, 19.5, etc was sort of amusing.  If a goal had gone in, my little spike would have looked like a brilliant move.

BTW, was trading tennis on a match that was fluctuating.  Had gone down to 1.07 but both players tired so a large sum at 1.04, expecting it to clip and bounce on the game or next game.  Wham, down to 1.01 then went to see the news.  A sprained ankle and I lost enough to leave a bruise in my wallet, double on what I wanted to risk (if it had gone against me, I would have traded out taking 1.03,1.02 but didn't get the chance).

So, perhaps hoovered but also knew going in that it can go against me.  Every trade, every bet, you have to go in with the attitude it might all disappear.  Once you accept that mindset, my view is you'll wager smarter.

You may have been done by a 'courtsider' - a species that betfair still permits to operate on this site even when they are identified, and which includes ex-betfair employees.
A practise which is against betfair's own rules to boot, but which betfair do not enforce.
And one of the reasons why you should NEVER bet in-play on this site. You risk being mugged off by someone by the pitch pressing buttons in his pocket.

Don't agree.

Play in-play but be aware and wager accordingly.  I set limits and accept them because I know that based on what I do, it won't 'set me back'

I used to play Murray in-running and regardless of the price, the moment he slammed his racket down, I bet against him.  Unfortunately, Ivan has removed that aspect of the game

As well, I have a list of front-running horses that I have.

So when they go from 14/1 to 5/1, I lay them in full knowledge that, yes, they could win but I think that at 18 furlongs with four to go, their day will be done.

Am I hoovering based on 'knowledge' that the horse won't win?