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why bet 1/4 first three when everyone else is 1/5th..too much hassle
why bet 1/4 first three when everyone else is 1/5th..too much hassle
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Replies: 56
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cantspell, there are not many bookmakers oncourse now advertising "standard each way terms" you have to advetrise what terms you are betting to, "standard each ways terms" are believed to be a feature of the past, since the gambling commission administrated the rules and regs of on course bookmakers
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yes but it was a good effort considering he wasn't on the joint much as he spent most of the day offering tutorials to everyone else
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bar one is correct. There are no "standard terms" but default terms if a bookmaker doesn't advertise his terms properly and clearly. Part of the NAB submission to the committee that revised the Tatts rules was that a bookmaker not using the default terms should pay the advertised number of places even after a non runner, but this wasn't incorporated into the rules.
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I dont know what your on about truth ive never rented a pitch anywhere.ive let people run mine for a share with a proper contract but ive never rented one myself AND HEXHAM YOUVE GOT TO BE KIDDING.ive worked for rlyl buts thats all.
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I can't understand why bookmakers worry these days. Yes the place book can be a liability (although a printed ticket should explain clearly that the place terms may change) but the win market is just pure arbitrage profit against the exchanges.
When I go racing with novice punters they always marvel at the 'bravery' of the bookies. Its just a 7% guaranteed minimum margin on every race in the win market with a bit of commission going to Betfair. |
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never had any trouble on the grass (in Tatts ) ,just told everyone the place terms had altered
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Hip Priest
You sort of miss the expenses element! 7% of money taken say £5k on a day less exs of £350 per day, equates to 12 hours work for free. |
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unless you get a skinner in the magnet cup with a crowd of 45,000,
, and a skinner in the july cup to boot,  |
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lol.
The skinners are taken account in the 7% margin. Exs are paid regardless. |
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So I am right about the margin.
That means you need to do an average of £10k per day to make something approaching a living , £20k to really roll. Therefore if you can't do that you need to bet at different tracks or some bookies are going to have to quit. Skinners are not included - they are a bonus because you cant lay off on exchanges at the prices books offer on outsiders. 7% is a benchmark for the liquid end of the market. |
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Hip
Obviously books work to a margin, to help cover expenses / earn profit, and on course its less than the SP. Very few (if any) average anywhwere near £10k. There doesn't seem to be a long list looking to pursue the trade - that is true. Skinners are included in the margin because in the long run some win, hedge or not is irrelevant. There are books that don't hedge, but accept the majority do and if anything there is more margin on the rags on the exchanges compared to favourites. Hope this helps. |
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I take your point about skinners - there is an element of good old fashioned luck there.
My biggest gripe these days is that even at Festival meets (where admittedly you can find some value) everyone's tissue is the same i.e they look at Betfair and knock 10 percent of the top 6 in the market and chalk that up. What happened to taking a horse on? I know you can get picked off by the big boys hedging but it can be right that if you ask 100 punters how a race should be priced you'll get 60 different answers but if you ask 100 books at a big meet they all see it exactly the same? A real shame and has taken a lot of the fun out of pacing the ring shopping for someone who fancies a bash at your selection. |
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hip ,the prices still vary on course as they used to ,they just go back into line quicker .Yes the prices are based on betfair ,but people are willing to take horses on ,these prices do not last long because the punters soon dash in (or the arbers ) keep your eyes peeled and keep a look out !!
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SPOT ON MUM,SOME BOOKMAKERS EVEN GO "BIGGER THAN THE MACHINE"(NO COMMISSION,NO PREMIUM CHARGE)AND U CAN BE ON
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free advert for you again Tim
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U HUM IT ILL PLAY IT
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