Betfair

[piersa]

You cant be serious?

I don't understand your point Keith. The referer gets £25 and the new user gets £25. That is symbiotic.

 

[keithbeaky]

I don't understand your point Keith. The referer gets £25 and the new user gets £25. That is symbiotic.

I dont understand your point. I made a bit of a joke about it and then you told me to get over it. I was never under it

 

[piersa]

never a truer word said in jest

 

[Max Paper]

Ok Thanks Sheebo, money back in my account, happy days. So I bet £5 on Arshavin to score first using the iphone app and was informed 'bet matched'

Please, in English, what the f*** does that mean?? ?? ??

 

[Freddo]

Ok Thanks Sheebo, money back in my account, happy days. So I bet £5 on Arshavin to score first using the iphone app and was informed 'bet matched'

Please, in English, what the f*** does that mean?? ?? ??

It means your bet has been matched with money of someone who wanted to lay Arshavin scoring first (so basically you have your bet on).

If it said that your bet was unmatched, it would mean that your bet was in the system and waiting to be matched, and you could change/cancel this bet if you wanted to (unless it gets matched beforehand)

 

[Max Paper]

It means your bet has been matched with money of someone who wanted to lay Arshavin scoring first (so basically you have your bet on).

If it said that your bet was unmatched, it would mean that your bet was in the system and waiting to be matched, and you could change/cancel this bet if you wanted to (unless it gets matched beforehand)

So I've put money on him to score first and someone has bet me he wont? Forgive my ignorance I'm trying to understand it

 

[Freddo]

So I've put money on him to score first and someone has bet me he wont? Forgive my ignorance I'm trying to understand it

Yeah that's basically it, on their main website they have a decent 'Help and Learning' section (in the top left corner) which may be worth checking out...but you're pretty much there!

 

[HAILSHAM SEAGULL]

If you aint sure how it works, dont get involved, so easy to have a cheap punt now on phones, you could end up in deep shit on a site like Betfair

 

[Max Paper]

Yeah that's basically it, on their main website they have a decent 'Help and Learning' section (in the top left corner) which may be worth checking out...but you're pretty much there!

Nice one thanks man, i'll check it out

 

[Max Paper]

If you aint sure how it works, dont get involved, so easy to have a cheap punt now on phones, you could end up in deep shit on a site like Betfair

This is the thing, I WANT to know how it works, how can I get in shit? I genuinely want to know?

 

[ArfurW8]

This is the thing, I WANT to know how it works, how can I get in shit? I genuinely want to know?

If you are a backer you are no more likely to get in the shit than you are with a traditional bookie.
Being a layer is a touch more risky as you are acting as a bookie.
When you request a bet at a certain price the bet will only be matched if there are people willing to offer those odds,if there is nobody willing to offer those odds then the bet will not be matched until those odds are available.
To get a feel for it watch the screen for a while during a live event and see how the odds fluctuate.
Trading is a bit more for the experienced user,eg before the euros started Di Natali was available at 95/1 to be top scorer,after his goal the price went to 25/1 so you could have backed him at 95/1 for two pounds to win 190 and then laid him at 25/1 for two pounds to lose fifty pounds giving you a risk free bet to win 140 pounds,if you laid it for 3 pounds then you could guarantee a 1 pound profit if he doesn't become top scorer or a 115 pound profit if he does.


Hope that has helped rather than complicate the matter,though I think I may have muddied the waters a bit.
Sorry but the pound symbol does not work on this keyboard.

 

[tooting2]

This is the thing, I WANT to know how it works, how can I get in shit? I genuinely want to know?

go to the help box and rules tabs on whichever market your punting on

 

[Mtoto]

You can only get in shit to the limit of your account (unlike spread betting). If you try to lay a bet when you don't have enough in your account to cover it, the exchange won't accept the bet.
Someone will probably now bring up the interesting case of Voler La Vedette at Leopardstown last Christmas, but I've no real idea how that happened, and I'm still not completely convinced that Betfair do either.

 

[keithbeaky]

You can only get in shit to the limit of your account (unlike spread betting). If you try to lay a bet when you don't have enough in your account to cover it, the exchange won't accept the bet.
Someone will probably now bring up the interesting case of Voler La Vedette at Leopardstown last Christmas, but I've no real idea how that happened, and I'm still not completely convinced that Betfair do either.

I think they and we all know what happened. They said it was technical fault. Now if it was then why was in running still available on the very next race? How could they be that sure that the fault had been rectified or that it wouldn't happen again?

 

[ArfurW8]

You can only get in shit to the limit of your account (unlike spread betting). If you try to lay a bet when you don't have enough in your account to cover it, the exchange won't accept the bet.
Someone will probably now bring up the interesting case of Voler La Vedette at Leopardstown last Christmas, but I've no real idea how that happened, and I'm still not completely convinced that Betfair do either.

The Arsenal league cup final thread which I believe was on moneysavingexpert makes for fun reading as well,punters thought they had beaten the system and were like rampant lions,then when they realised they had got it wrong they bricked it.

 

[GingerBeerMan]

The Arsenal league cup final thread which I believe was on moneysavingexpert makes for fun reading as well,punters thought they had beaten the system and were like rampant lions,then when they realised they had got it wrong they bricked it.

Interesting thread, link for that please, i'm interested to learn more.

Just a quick question, if I bet on something (say Greece to win the Euros at 150/1) if the odds shorten how do I make money off this? For example they come out and play really well, odds shorten to 75/1 and I have a tenner on it, how much do I make?

 

[Iggle Piggle]

Interesting thread, link for that please, i'm interested to learn more.

Just a quick question, if I bet on something (say Greece to win the Euros at 150/1) if the odds shorten how do I make money off this? For example they come out and play really well, odds shorten to 75/1 and I have a tenner on it, how much do I make?

In this example you back Greece at 150-1 with £2 to win £300 (must be on betfair though otherwise it gets messy)

Greece beat Russia and are priced at 75-1 to win the Tourny. In simple terms, You can then Lay Greece for either

£2 @ 75-1 to get your original stake back with a risk free bet to win £150
or lay Greece for £4 to get a locked in profit (Go Green as they say)

As a more complex example, I often back high priced horses that historically run well in running before coming to nothing - Thier price will contract in running and bingo - profit. Hello Bud was a good example in this year Grand National, where I backed him in 3 figures to 1 (say 100-1 although it was more but good to use as an example). I set Betfair up as follows ;

Back £10 @ 100-1 to win £1000

Lay £10 @ 50-1 (Money Back) £500 left to lay
Lay £10 @ 25-1 +£10 up and £250 left to lay
Lay £10 @ 12-1 +£20 and £130 left to lay
Lay £10 @ 6-1 +£30 and £70 left to lay

and so on. I think he got matched as low as 4-1 in running (madness but there you go). Of course, if he falls at the first you lose a tenner and you need to know your stuff to make it work.

The Volle de Vollette link below

Betfair punters lose out in verdict on £23m Voler La Vedette case | Sport | The Observer

 

[keithbeaky]

Very good and detailed explanation. Front runners is an easy £30-£50 per day, providing as you say they dont fall out the stalls or fall too early.

As for VLV its far worse than any newspaper article, they were definitely playing with their own money and someone made a huge mistake. Also wasn't betting suspended before she crossed the line? I might have got that wrong.

 

[Vegas Seagull]

You gave to pay to learn like many things in life : Stick £20 in your a/c & have 10 x £2 bets, some will win, some will lose & you'll learn with every one. If you can't afford to play around with a score then it's not the place for you anyway

 

[Mackenzie]

Very good and detailed explanation. Front runners is an easy £30-£50 per day, providing as you say they dont fall out the stalls or fall too early.

As for VLV its far worse than any newspaper article, they were definitely playing with their own money and someone made a huge mistake. Also wasn't betting suspended before she crossed the line? I might have got that wrong.

Who has £600M in a Betfair account?.......that sounds too much even for one of the high street bookies (Ladbrokes, Hills).