Yes most definitely. I think Bella had a similar conundrum recently today(?), Andy's answer was particularly poignant I thought (poignant, think that's possibly the first time I've used that on a forum ever!).
I got in, but the site is very slow atm.
Ok another to good to be true thing just came up. I was trying to match some odds on a correct score to win my bonus I didn't get the odds before the game but they are stilll available in running. When I checked every score aprt from 0-0 was at 101.0 odds! I was this close to backing a 1-0 @101 and then laying at betfair. I clicked the back and entered my bet but had second thoughts I clicked back and refreshed the page and the odds for 1-0 had gone down to 5.0.
Originally Posted by Tel
If I placed my bet @101 would it have gone through etc?
I'm starting out on Match Betting and its going quite nicely.
My other half would like to get into bonus bagging. I understand the principle and the risk.
What is a good one to start with - there are a couple of caveats.
1. I don't want her to sign up to a bookie - only to scupper me signing up for a big sports bonus eg. William Hill, Ladbrokes etc around cheltenham etc. I've been saving these specifically for the big match betting bonus.
2. I only undertand the strategy for Blackjack and these seem banned on most sites.
3. Small WR if possible please.
Have a look at the no risk offers - skyvegas and pacific poker come to mind, there are threads out there on this forum (casinos).
It would almost certainly have been palped. Palping is when the bookie cancels one of your bets because they had the odds totally wrong.
Originally Posted by Tel
So if everyone has a Serena Williams v Some Nobody tennis match at 1.20 v 4.50 for odds and you see a bookie has Serena Williams at 4.50 and Some Nobody at 1.20, don't jump on those juicy looking Williams odds. They have them backwards and will almost certainly palp you bet later. Then you will have your betfair lay still out there and nothing good to match it to.
Same with your case, the bookie quite obviously had the odds wrong and if you had matched it at betfair, you would have found they wouldn't pay out and you might have had to pay out at betfair.
Some bookies will e-mail you as soon as they cancel the bet. Some slightly crooked bookies will just cancel the bet as soon as they see it's wrong odds, but not e-mail you. The really crooked ones will let your bet ride, keep your money if it loses, but palp you AFTER the event if the bet won!
Oh right thats what palped is, I had seen the term but as yet not looked into it. I knew it was too good to be true...Thanks for the explanation.
Earlier I was trying to get a handle on the horse racing market. I found some great arbs between BF and the bookie, so good that they seemed to be too good. The only consoling thing was that there was not much money in the lay stakes and the odds jumped dramatically after that. I'm trying to get into the horse racing to maximise my profits are these arbs genuine or would they be palped too?
Also when I went to place a bet on the horses I had the options of the odds, sp or each way. I know to avoid each way but what is the sp option?
SP is the odds at the start of the race. So if you take SP odds, you get the odds the horse was at when the race started. Since this is practically impossible to match with Betfair, avoid this also.
Originally Posted by Tel
Horse odds are rarely palped, but there a couple of other pitfalls to watch out for.
1) Make sure the list of odds at Betfair is for the WIN market and not the PLACE market. If you are looking at a race and pretty much every single horse looks like a sweet arb against betfair, you're probably looking at the PLACE market at betfair.
2) Rule 4 and deductions. When a horse is withdrawn from a race there is a deduction done at the bookies on horse odds. Example: You back a horse at 10.00 at Lads and lay it at Betfair at odds of 9.50 for a small arb. Then one of the favourites is withdrawn from the race. The bookie and Betfair each do something slightly different. At the bookie, they will reduce the odds of you bet by a certain percetage based on how much of a favourite the Non-runner was.... each bookie will have a table that shows you how much the deduction is, like Odds of non-runner = 10.00 - 15.00 is 5% reduction, 7.00 - 10.00 is 10% reduction, etc... (examples only!). Betfair uses some complicated algorithm and deducts some percentage as well, but this will rarely be exactly the same as the bookie. So after the decution, you might now have odds of 9.40 at the bookie and 9.00 at betfair... this can go in your favour (when betfair reduces MORE than the bookie and you lay odds lessen more than your back odds lessed at the bookie (the arb becomes bigger) OR it can screw you over and turn your arb into a loss if the betfair reduction is less than the bookie reduction.
OK, so the lesson of 2) isn't just make sure you know what is happening odds wise after a non-runner is declared after you have bet, you may have to adjust your lay to correct it!. That is a good lesson, but here is why I mentioned it.
If you are looking at a race and there are some decent arbs on a few horses against betfair make sure the bookie has reformed the market after the non-runner! Betfair is quick to do this, some bookies are sloooooooooooow. So you could be looking at a market that hasn't had the deduction done yet. Best to check on Betfair for non-runners and when they were declared.
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