How true is the famous saying 'you never meet a poor bookmaker'?

[Euler]

"Our big days are still as good as ever," says O'Gorman. "But whereas we used to make a living midweek, nowadays we don't. I struggle midweek."

In fact, turnover can be so poor that a few years ago bookmakers, during the coldest, quietest period between December and February, were given an attendance allowance to bet at Lingfield all-weather meetings to ensure there were never fewer than three layers and a starting price could be returned.

On a long-term basis, a bookmaker cannot realistically expect for more than 12 per cent of their turnover to be profit. With expenses for an average midweek meeting often eclipsing £300, a layer must take over £2500 in bets from the sparse crowd just to cover expenses – assuming results go their way.

https://www.racingpost.com/news/in-dept ... ker/299807

[LeTiss]

Interesting read. I had a bookmakers permit in the 90's - I had to go to Lyndhurst Magistrates and give my reasons for wanting one. I can't remember what it cost, but it was nominal and I renewed it for £20

[megarain]

I knew 2 bookies who committed suicide, due to the game.

If anyone says its easy, they are wrong.

[THENUTS]

Looks to be going the same way as open outcry on the floor of stock exchanges.
More and more people will begin to understand the overound and poor value of the oncourse bookies.

[ANGELS15]

I dont't know if it's just my perception but in nearly 30 years of betting I've never known so many favourites and second favourites win as in recent years.

[LeTiss]

I knew 2 bookies who committed suicide, due to the game.

If anyone says its easy, they are wrong.

That's shocking

[Halliday]

I dont't know if it's just my perception but in nearly 30 years of betting I've never known so many favourites and second favourites win as in recent years.

Stats for fav/2nd fav courtesy of Adrian Massey.com... slightly higher strike rate in the nineties,but so much more racing there days.

2016 stats are on the site but i missed them off !!
and you can break them down by any criteria you want

[brunty122]

Crazy how close those percentages are over the years!

[Dublin_Flyer]

Figures from Horseracebase reconcile almost exactly with Adrian Masseys, at a guess the difference is due to photo finish/void race/disqualification kinda thing.

[ANGELS15]

That's interesting on the stats it would be interesting to see stats for 2013 to present.