It's got to be one of the most difficult strategies ( on it's own ) to make a profit from and for most people it would just end in
Today's Horse Racing
It's not the problem, LinusP just want's your money and does not care even if you backed it at 25/1 and LinusP gave you 999/1 odds, the horse loses and your money is now LinusP's money.
Don't forget LinusP is only laying on entries that in LinusP's opinion cannot win. The next time you see a faller in a horserace look how quickly the price jumps out to 1000.
The way Betfair works as you know, it will always give you the highest price available, that is why traders just stick in a Lay price of a 1000. I can imagine there are quite a few traders who do this and a queue quickly forms, that is why LinusP wants Betfair to offer higher prices than 1000.
Im confused if this is satireconduirez wrote: ↑Wed Feb 14, 2024 9:49 amIt's not the problem, LinusP just want's your money and does not care even if you backed it at 25/1 and LinusP gave you 999/1 odds, the horse loses and your money is now LinusP's money.
Don't forget LinusP is only laying on entries that in LinusP's opinion cannot win. The next time you see a faller in a horserace look how quickly the price jumps out to 1000.
The way Betfair works as you know, it will always give you the highest price available, that is why traders just stick in a Lay price of a 1000. I can imagine there are quite a few traders who do this and a queue quickly forms, that is why LinusP wants Betfair to offer higher prices than 1000.
It's not satire, Just look at a horserace on Betfair stream and look at the prices changing, as soon as they fall or get pulled up look at the prices offered.Fugazi wrote: ↑Wed Feb 14, 2024 10:08 amIm confused if this is satireconduirez wrote: ↑Wed Feb 14, 2024 9:49 amIt's not the problem, LinusP just want's your money and does not care even if you backed it at 25/1 and LinusP gave you 999/1 odds, the horse loses and your money is now LinusP's money.
Don't forget LinusP is only laying on entries that in LinusP's opinion cannot win. The next time you see a faller in a horserace look how quickly the price jumps out to 1000.
The way Betfair works as you know, it will always give you the highest price available, that is why traders just stick in a Lay price of a 1000. I can imagine there are quite a few traders who do this and a queue quickly forms, that is why LinusP wants Betfair to offer higher prices than 1000.
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This where I have an issue with Betfair markets, you can still bet on a selection that can no longer win for example when a horse falls or the correct score 0-0 market when there's been a goal. They'll be plenty fo people in there looking for that oppertunity, maybe even creating oppertunity looking to fire other peoples automation for profit as they know they can't loose.conduirez wrote: ↑Wed Feb 14, 2024 9:49 amIt's not the problem, LinusP just want's your money and does not care even if you backed it at 25/1 and LinusP gave you 999/1 odds, the horse loses and your money is now LinusP's money.
Don't forget LinusP is only laying on entries that in LinusP's opinion cannot win. The next time you see a faller in a horserace look how quickly the price jumps out to 1000.
The way Betfair works as you know, it will always give you the highest price available, that is why traders just stick in a Lay price of a 1000. I can imagine there are quite a few traders who do this and a queue quickly forms, that is why LinusP wants Betfair to offer higher prices than 1000.
It's a free market and each individual is responsible for their own bets I undertstand that but find it slighlty unethical allowing bets on a selection that's no longer able to win, it's just not cricket IMO I'd like Betfair to somehow look at this and try to close that particular loophole.
Everthing outside that is fair game.
I am pricing up the market, if the price on offer is out of line with my pricing I will take it, 1000 is just a number.conduirez wrote: ↑Wed Feb 14, 2024 9:49 amIt's not the problem, LinusP just want's your money and does not care even if you backed it at 25/1 and LinusP gave you 999/1 odds, the horse loses and your money is now LinusP's money.
Don't forget LinusP is only laying on entries that in LinusP's opinion cannot win. The next time you see a faller in a horserace look how quickly the price jumps out to 1000.
The way Betfair works as you know, it will always give you the highest price available, that is why traders just stick in a Lay price of a 1000. I can imagine there are quite a few traders who do this and a queue quickly forms, that is why LinusP wants Betfair to offer higher prices than 1000.
Turn off BPEMichael5482 wrote: ↑Wed Feb 14, 2024 10:17 amThis where I have an issue with Betfair markets, you can still bet on a selection that can no longer win for example when a horse falls or the correct score 0-0 market when there's been a goal. They'll be plenty fo people in there looking for that oppertunity, maybe even creating oppertunity looking to fire other peoples automation for profit as they know they can't loose.
It's a free market and each individual is responsible for their own bets I undertstand that but find it slighlty unethical allowing bets on a selection that's no longer able to win, it's just not cricket IMO I'd like Betfair to somehow look at this and try to close that particular loophole.
Everthing outside that is fair game.
I am not sure turning off BPE would work, I am sure someone with enough resources and appropriate software, could or already does, quickly ripple through all the prices picking up these BACK bets where BPE is turned off.LinusP wrote: ↑Wed Feb 14, 2024 10:29 amI am pricing up the market, if the price on offer is out of line with my pricing I will take it, 1000 is just a number.conduirez wrote: ↑Wed Feb 14, 2024 9:49 amIt's not the problem, LinusP just want's your money and does not care even if you backed it at 25/1 and LinusP gave you 999/1 odds, the horse loses and your money is now LinusP's money.
Don't forget LinusP is only laying on entries that in LinusP's opinion cannot win. The next time you see a faller in a horserace look how quickly the price jumps out to 1000.
The way Betfair works as you know, it will always give you the highest price available, that is why traders just stick in a Lay price of a 1000. I can imagine there are quite a few traders who do this and a queue quickly forms, that is why LinusP wants Betfair to offer higher prices than 1000.
Turn off BPEMichael5482 wrote: ↑Wed Feb 14, 2024 10:17 amThis where I have an issue with Betfair markets, you can still bet on a selection that can no longer win for example when a horse falls or the correct score 0-0 market when there's been a goal. They'll be plenty fo people in there looking for that oppertunity, maybe even creating oppertunity looking to fire other peoples automation for profit as they know they can't loose.
It's a free market and each individual is responsible for their own bets I undertstand that but find it slighlty unethical allowing bets on a selection that's no longer able to win, it's just not cricket IMO I'd like Betfair to somehow look at this and try to close that particular loophole.
Everthing outside that is fair game.
Do people have the bankroll to start offering odds of 100,000 to one when it falls?conduirez wrote: ↑Wed Feb 14, 2024 10:14 amIt's not satire, Just look at a horserace on Betfair stream and look at the prices changing, as soon as they fall or get pulled up look at the prices offered.Fugazi wrote: ↑Wed Feb 14, 2024 10:08 amIm confused if this is satireconduirez wrote: ↑Wed Feb 14, 2024 9:49 am
It's not the problem, LinusP just want's your money and does not care even if you backed it at 25/1 and LinusP gave you 999/1 odds, the horse loses and your money is now LinusP's money.
Don't forget LinusP is only laying on entries that in LinusP's opinion cannot win. The next time you see a faller in a horserace look how quickly the price jumps out to 1000.
The way Betfair works as you know, it will always give you the highest price available, that is why traders just stick in a Lay price of a 1000. I can imagine there are quite a few traders who do this and a queue quickly forms, that is why LinusP wants Betfair to offer higher prices than 1000.
I see the problem of a 1000-1 cap, but not entirely sure how traders would capitalise . Will traders start offering 50 million to one if it falls and breaks a leg?
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That doesn't negate around that a selection is still taking bets when it has no chance of winning as the outcome is impossible, that's where the vaule is which personally I find unethical.LinusP wrote: ↑Wed Feb 14, 2024 10:29 amI am pricing up the market, if the price on offer is out of line with my pricing I will take it, 1000 is just a number.conduirez wrote: ↑Wed Feb 14, 2024 9:49 amIt's not the problem, LinusP just want's your money and does not care even if you backed it at 25/1 and LinusP gave you 999/1 odds, the horse loses and your money is now LinusP's money.
Don't forget LinusP is only laying on entries that in LinusP's opinion cannot win. The next time you see a faller in a horserace look how quickly the price jumps out to 1000.
The way Betfair works as you know, it will always give you the highest price available, that is why traders just stick in a Lay price of a 1000. I can imagine there are quite a few traders who do this and a queue quickly forms, that is why LinusP wants Betfair to offer higher prices than 1000.
Turn off BPEMichael5482 wrote: ↑Wed Feb 14, 2024 10:17 amThis where I have an issue with Betfair markets, you can still bet on a selection that can no longer win for example when a horse falls or the correct score 0-0 market when there's been a goal. They'll be plenty fo people in there looking for that oppertunity, maybe even creating oppertunity looking to fire other peoples automation for profit as they know they can't loose.
It's a free market and each individual is responsible for their own bets I undertstand that but find it slighlty unethical allowing bets on a selection that's no longer able to win, it's just not cricket IMO I'd like Betfair to somehow look at this and try to close that particular loophole.
Everthing outside that is fair game.
I neither do it, or been stung by it but if Betfair allow it I understand why people can and will look to profit from it however in a world where gambling is under so much scrutiny it's not a good look that people can back a selection when it's impossible for it to win and you shouldn't have to change settings to stop that.
However if Betfair are happy with it then it's their porogitive, but if they did decide to look at it I'd be in favour but it's just my personal opnion on the matter nothing more.
I agree, its unethical.Michael5482 wrote: ↑Wed Feb 14, 2024 11:27 amThat doesn't negate around that a selection is still taking bets when it has no chance of winning as the outcome is impossible, that's where the vaule is which personally I find unethical.LinusP wrote: ↑Wed Feb 14, 2024 10:29 amI am pricing up the market, if the price on offer is out of line with my pricing I will take it, 1000 is just a number.conduirez wrote: ↑Wed Feb 14, 2024 9:49 am
It's not the problem, LinusP just want's your money and does not care even if you backed it at 25/1 and LinusP gave you 999/1 odds, the horse loses and your money is now LinusP's money.
Don't forget LinusP is only laying on entries that in LinusP's opinion cannot win. The next time you see a faller in a horserace look how quickly the price jumps out to 1000.
The way Betfair works as you know, it will always give you the highest price available, that is why traders just stick in a Lay price of a 1000. I can imagine there are quite a few traders who do this and a queue quickly forms, that is why LinusP wants Betfair to offer higher prices than 1000.
Turn off BPEMichael5482 wrote: ↑Wed Feb 14, 2024 10:17 amThis where I have an issue with Betfair markets, you can still bet on a selection that can no longer win for example when a horse falls or the correct score 0-0 market when there's been a goal. They'll be plenty fo people in there looking for that oppertunity, maybe even creating oppertunity looking to fire other peoples automation for profit as they know they can't loose.
It's a free market and each individual is responsible for their own bets I undertstand that but find it slighlty unethical allowing bets on a selection that's no longer able to win, it's just not cricket IMO I'd like Betfair to somehow look at this and try to close that particular loophole.
Everthing outside that is fair game.
I neither do it, or been stung by it but if Betfair allow it I understand why people can and will look to profit from it however in a world where gambling is under so much scrutiny it's not a good look that people can back a selection when it's impossible for it to win and you shouldn't have to change settings to stop that.
However if Betfair are happy with it then it's their porogitive, but if they did decide to look at it I'd be in favour but it's just my personal opnion on the matter nothing more.
Equally, punter stupidity.
Contentious issue with no solution that would please everyone. I would say though the customers are the majority, so a decision to favour them rather than the traders probably makes sense
"impossible" is a very subjective definition, there were enough cases where it looked impossible for a runner to win, but it won. I think such interference in a market activity is a bad thing.Michael5482 wrote: ↑Wed Feb 14, 2024 11:27 amThat doesn't negate around that a selection is still taking bets when it has no chance of winning as the outcome is impossible, that's where the vaule is which personally I find unethical.LinusP wrote: ↑Wed Feb 14, 2024 10:29 amI am pricing up the market, if the price on offer is out of line with my pricing I will take it, 1000 is just a number.conduirez wrote: ↑Wed Feb 14, 2024 9:49 am
It's not the problem, LinusP just want's your money and does not care even if you backed it at 25/1 and LinusP gave you 999/1 odds, the horse loses and your money is now LinusP's money.
Don't forget LinusP is only laying on entries that in LinusP's opinion cannot win. The next time you see a faller in a horserace look how quickly the price jumps out to 1000.
The way Betfair works as you know, it will always give you the highest price available, that is why traders just stick in a Lay price of a 1000. I can imagine there are quite a few traders who do this and a queue quickly forms, that is why LinusP wants Betfair to offer higher prices than 1000.
Turn off BPEMichael5482 wrote: ↑Wed Feb 14, 2024 10:17 amThis where I have an issue with Betfair markets, you can still bet on a selection that can no longer win for example when a horse falls or the correct score 0-0 market when there's been a goal. They'll be plenty fo people in there looking for that oppertunity, maybe even creating oppertunity looking to fire other peoples automation for profit as they know they can't loose.
It's a free market and each individual is responsible for their own bets I undertstand that but find it slighlty unethical allowing bets on a selection that's no longer able to win, it's just not cricket IMO I'd like Betfair to somehow look at this and try to close that particular loophole.
Everthing outside that is fair game.
I neither do it, or been stung by it but if Betfair allow it I understand why people can and will look to profit from it however in a world where gambling is under so much scrutiny it's not a good look that people can back a selection when it's impossible for it to win and you shouldn't have to change settings to stop that.
However if Betfair are happy with it then it's their porogitive, but if they did decide to look at it I'd be in favour but it's just my personal opnion on the matter nothing more.
- jamesedwards
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But who's to say when a selection can or can no longer win? A football match could be abandoned and replayed within set timeframe. Confusion with awarding of goal/VAR issues could create anomalies with reported scores. A stewards enquiry could disqualify multiple horses. There could be weigh-in problems for a horse that lost a cloth. A fallen horse could be mistaken identity.Michael5482 wrote: ↑Wed Feb 14, 2024 10:17 amThis where I have an issue with Betfair markets, you can still bet on a selection that can no longer win for example when a horse falls or the correct score 0-0 market when there's been a goal. They'll be plenty fo people in there looking for that oppertunity, maybe even creating oppertunity looking to fire other peoples automation for profit as they know they can't loose.
It's a free market and each individual is responsible for their own bets I undertstand that but find it slighlty unethical allowing bets on a selection that's no longer able to win, it's just not cricket IMO I'd like Betfair to somehow look at this and try to close that particular loophole.
Everthing outside that is fair game.
Yes all these examples are extreme but they do happen. A golf trader once lost £10k laying a 500 shot after the official scorer accidentally added 27 shots to Bradley Dredge's card. A horse racing trader lost around £200k laying a 1000 shot during a race after the commentator mistakenly called it as a faller. There will be other examples I'm sure.
Count me out of laying the "impossibles" if the 1000-1 cap gets increasedjamesedwards wrote: ↑Wed Feb 14, 2024 2:40 pmBut who's to say when a selection can or can no longer win? A football match could be abandoned and replayed within set timeframe. Confusion with awarding of goal/VAR issues could create anomalies with reported scores. A stewards enquiry could disqualify multiple horses. There could be weigh-in problems for a horse that lost a cloth. A fallen horse could be mistaken identity.Michael5482 wrote: ↑Wed Feb 14, 2024 10:17 amThis where I have an issue with Betfair markets, you can still bet on a selection that can no longer win for example when a horse falls or the correct score 0-0 market when there's been a goal. They'll be plenty fo people in there looking for that oppertunity, maybe even creating oppertunity looking to fire other peoples automation for profit as they know they can't loose.
It's a free market and each individual is responsible for their own bets I undertstand that but find it slighlty unethical allowing bets on a selection that's no longer able to win, it's just not cricket IMO I'd like Betfair to somehow look at this and try to close that particular loophole.
Everthing outside that is fair game.
Yes all these examples are extreme but they do happen. A golf trader once lost £10k laying a 500 shot after the official scorer accidentally added 27 shots to Bradley Dredge's card. A horse racing trader lost around £200k laying a 1000 shot during a race after the commentator mistakenly called it as a faller. There will be other examples I'm sure.
Not that I lay them anyway
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The rules of the sport dicate horse racing for example you cannot re-mount after the off it's automatic disqualification so should be removed these extremities are what I was pointing out. If the horse is still running it has a chance I accept that and so should everyone but it hasn't got a chance when the jockey is on the deck the rules dictae this but you can still back it.jamesedwards wrote: ↑Wed Feb 14, 2024 2:40 pmBut who's to say when a selection can or can no longer win? A football match could be abandoned and replayed within set timeframe. Confusion with awarding of goal/VAR issues could create anomalies with reported scores. A stewards enquiry could disqualify multiple horses. There could be weigh-in problems for a horse that lost a cloth. A fallen horse could be mistaken identity.Michael5482 wrote: ↑Wed Feb 14, 2024 10:17 amThis where I have an issue with Betfair markets, you can still bet on a selection that can no longer win for example when a horse falls or the correct score 0-0 market when there's been a goal. They'll be plenty fo people in there looking for that oppertunity, maybe even creating oppertunity looking to fire other peoples automation for profit as they know they can't loose.
It's a free market and each individual is responsible for their own bets I undertstand that but find it slighlty unethical allowing bets on a selection that's no longer able to win, it's just not cricket IMO I'd like Betfair to somehow look at this and try to close that particular loophole.
Everthing outside that is fair game.
Yes all these examples are extreme but they do happen. A golf trader once lost £10k laying a 500 shot after the official scorer accidentally added 27 shots to Bradley Dredge's card. A horse racing trader lost around £200k laying a 1000 shot during a race after the commentator mistakenly called it as a faller. There will be other examples I'm sure.
Racing would be slightly more difficult and agree mistaken identity could occur an Betfair would have to sort it out like they do in football markets with VAR on disallowd goals but football would be relatively easy to sort close the 0-0 selection with the 0.5 goal market, close 1-0 and 0-1 with 1.5 market and so on.