I wondered whether anyone had any advice on suitable types of races for bookmaking? From time to time I have a go at making a book in handicap races. These races are not so suitable for trading due to the relatively long prices of the favourites.
I find a make a little money bookmaking, and then there will be one race where I need to chase a drifter, carry a liability on said drifter in the race and of course it goes on to win, wiping out all profits for the day.
I think the best races for bookmaking are those where there is
1)Backing interest in all runners
2)A little ebb and flow to the interest
3)no strong steamers or drifters.
It is just finding races on a consistent basis with these characteristics that is the challenge.
Any thoughts anyone?
Bookmaking
I make about a quarter of my profits from bookmaking. I would say the golden rule of never going in running still applies here, unless you are making a book with a view to the runner's performance in the race. I complete everything pre-race, and ensure I get filled on every runner nudging my prices if necessary. On many of the races you do not get filled on all runners at the back prices, but that still does not mean you do not make a profit. By moving profit around with the manual bet tab you can usually green up or if necessary scratch. If one of the runners is obviously drifting I often scalp it and make even more of a profit. I would say pick races where you have at least the three favourites with similar prices, handicaps are always favourable races. Also I should note good liquidity and no gaps between back and lay are what you are looking for. If you see many gaps it is likely you will be caught chasing the price. Finally I make most of my books 25mins+ before the off with few exceptions. I aim to close them at the 10-15mins stage, before most big moves start to happen. Good luck!
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TraderGray
- Posts: 36
- Joined: Fri Mar 27, 2009 3:59 pm
Hi Afro
Damn, and I thought I'd found something new...afropunk wrote:By moving profit around with the manual bet tab you can usually green up or if necessary scratch.
A couple of problems with bookmaking.
You can get thumped on a rule 4, today being a great example and also it all eventually boils down to which way the favourite is going. If it's coming in all your other orders will struggle to fill, if it's going out you get filled on everything else but the favourite.
I prefer looking at one horse than loads. I guess what ever works for you really?
You can get thumped on a rule 4, today being a great example and also it all eventually boils down to which way the favourite is going. If it's coming in all your other orders will struggle to fill, if it's going out you get filled on everything else but the favourite.
I prefer looking at one horse than loads. I guess what ever works for you really?
hiTraderGray wrote:Hi Afro
Damn, and I thought I'd found something new...afropunk wrote:By moving profit around with the manual bet tab you can usually green up or if necessary scratch.
friends
please explain to me what this means
is it dutching the race and then greening up ??
i am new to this pl guide me friends
cheers
easwaran
India
Bookmaking is the opposite of dutching. So instead of backing the field you are laying the field. It is basically what traditional Bookmakers do to make a profit and what we can all do with Bet Angel pro. Hope this helps and sorry for the late reply!