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Do they win on here?
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I think they mainly back onto the Purple (that's how the RDT software a lot of them use is configured rather than onto BF).
You'd hope that software would be clever enough that rather than putting every single bet onto the Exchange it just placed the bets that would be required to make an overall green book, taking into account the bookie's position both with punters and with the Exchange? In which case whether they won here would be highly results dependent (likely to lose with punters when favourites win, so correspondingly would expect to win on the Exchange to balance their position)? There are a few on-course bookies on here - will be interested to hear what they say. |
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And would they be paying PC?
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concourse bookies are generally hedging so the horses backed back are random so therefore most hedge bets show a net loss after commission and so they lose.not saying all on course bookies hedge or lose on bfair/daq but the use hedging business almost certainly shows a small loss
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The ones I know just use Betfair to lay shorter price favs if they are similar price on course or back back any horses they have laid to lose more than they want to stand them for,so the answer to your question is some days they win,some days they lose.
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Can a Bookmaker be an Arber?...does this lead to thoughts of self loathing?
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I am linked up to betfair but only have a very few back bets . I prefer to stand horses .
on what hedging bets I do have I have lost on every single year since 2001. but remember it's hedging so we don't want to win on here |
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that should read 2002
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So adge, if a horse was 3/1 on the board and 4.3 on here. I was on course and wanted £100 win.
They commission agents (to use a factmachine term), would only have back on here the necessary stake to cover the win payout (and take the rest as guaranteed profit). OR Would they would not have the lot on and take the increased return should it win. OR Does it depend on the differentiate between the oncourse and exchange price? |
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So to extrapolate the above. If the oncourse margin is 120% and the exchange margin is 101% (albeit for the fancied horses perhaps 105% after commission) For every £100 they take the may be making 10% return.
How strong is the oncourse market. If you are on the 2nd/3rd race are you taking £1000 per race midweek? Hence perhaps £100 profit per race, (£700 per day) - expenses - staff costs. How is this viable? |
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£700 PER DAY
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Obvious FACT, prior to racecourse fees, staffing, travel, etc.
I can't work out how they make it pay......???? |
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SWARDEAN,THEY MAKE IT PAY BECAUSE THEY ARE IN THE BEST PICKS,FACT!
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The best trick they play is that they group together and push out the price of certain horses before the race.As betfair are well known for better prices they then back these horses with betfair that most people think are drifters making profit before the race starts.they also take turns at placing the bets rotating .
in other words one large bet from a track bookmaker can be covering 6 bookies on track. the profits are then divided by 6 at the end of racing. |
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ITS TRUE THEN THEY ALL GET IN THEIR BENTLYS AND DRIVE HOME TO THEIR MANSIONS
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sharp minds on here
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