betfair

[nicho_magic]

just wondering on people's thoughts?
i've just set up an account, its interesting, and if you use it correctly can be very profitable.

 

[sethlad]

Honestly,if youre serious on any level you must have an account.
Gives you the freedom you need to back your opinion at very low margins.

Its a fantastic guide to the correct odds,much better than any other source because it's live.
Gives you all the info you need,you can get an up to date statement of your
P & L at any time,download to spreadsheet,sort info by sport,its great.

I use it mainly to lay but virtually anything is possible
No cost,no charges (when you win you pay small %).

Id encourage anyone to at least explore the site & see how it should be done.

seth

 

[The Dustbin]

Honestly,if youre serious on any level you must have an account.
Gives you the freedom you need to back your opinion at very low margins.

Its a fantastic guide to the correct odds,much better than any other source because it's live.
Gives you all the info you need,you can get an up to date statement of your
P & L at any time,download to spreadsheet,sort info by sport,its great.

I use it mainly to lay but virtually anything is possible
No cost,no charges (when you win you pay small %).

Id encourage anyone to at least explore the site & see how it should be done.

seth

Second that.

 

[purple sneakers]

what took you so long?

 

[nicho_magic]

what took you so long?

it seems that it is pretty brilliant

 

[Tim56]

Two drawbacks:

1. Very small pools so it is hard to get set in a meaningful manner.
2. A lot of people don't know that there is a 5% commission involved, so the book is permanently at 106-7% - which is excellent, but not a money making machine that is often advertised.

 

[sethlad]

Very small pools on which events?

Racing pools are equivalent to tote,growing & much more informed.
Markets are spot on because more people know what they are doing.
No false faves like on tote,no ridiculous late firmers like stupidtab.

Ive had no problem getting set on any thoroughbred race.
Harness Racing,thats a different story.

seth

 

[Mordecai]

I've just started to take up punting and atm am only really reading about strategies and lessons of others (any reading suggestions welcome).

I don't really understand how this site works. Is it collating the best odds from other sites? Is it a site for "arbs"?

 

[sethlad]

Its simply a live betting exchange on sporting events.
You can back or lay (bet against) a horse or outcome.

Heres their M Cup podacast, includes Matt Chapman(at the races) with an insight into the internationals
www.betfairpromo.com/crm_email_06_07/au/webcast/qt7.html

seth

 

[Pres]

Two drawbacks:

1. Very small pools so it is hard to get set in a meaningful manner.
2. A lot of people don't know that there is a 5% commission involved, so the book is permanently at 106-7% - which is excellent, but not a money making machine that is often advertised.

Also there's a fee on credit card deposits and a fee on withdrawals (which they are meant to credit back to you but don't always remember to do) which eat into the percentages further.

Having said that it's a great tool for the serious punter as it gives you the extra option of laying runners (albeit at tough percentages - ie the bookie lays them at 120% and you're laying them at 101%).

At the end of the day you still have to find the winners (or losers).