Noob to online betting , tips wanted

[tricky_colour]

It doens't always work that way though. Bookies can price it up however they want if punters only back one outcome, they're on a loser (I think the William Hills guy said that they lost 400k+ when Spurs won last week)

Bookies don't 'price it up' the prices are set by the money wagered.
If punters only backed one outcome they would just close the book. They are not gamblers. The William Hills guy is just trying to con people into thinking they can beat the bookmakers. I think you will find in reality their profit was about 10% of all the money wagered on the event (or whatever their margin is on events of this type).

Note the William Hills guy omitted to mention the quarter of a billion pounds profit they made last year. I wonder why that was? Perhaps he forgot, just like he forgets every time when he tells you what a hard time the bookmakers are having!!!


That's simplistic theory. In reality the money is seldom distributed in proportion across the book unless its an exceptionally strong market.

The bookie sets a line but the punters ultimately shape the book through weight of money. I can assure you that if the favourites win every race this Tuesday at Cheltenham there will be some bookies who will be wiped out and won't be back on Wednesday. If the absolute outsider wins every race then every bookie will be absolutely quids in.

Bookies like it when favourites win beause it encourages people to bet more and bigger thus the 'cake from which they take their slice' is bigger. They could not care less who wins, their profit is the same whatever the outcome.

[el punter]

Bookies like it when favourites win beause it encourages people to bet more and bigger thus the 'cake from which they take their slice' is bigger. They could not care less who wins, their profit is the same whatever the outcome.

The sooner you set up as a bookie the better

[JW.]

Lol :)

[tricky_colour]

The sooner you set up as a bookie the better

Indeed, I would certaintly do better than I ever did as a punter.
Bookmakers like favourites winning because it reduces their risk, it is easier for them to set their odds because there is a steadier flow of money on them
and also a heavier weight of money so a single large bet won't increase their exposure. However what really worries them is a large bet on a rank outsider
which could cripple them if it came in. However in any case they can have policies to ensure they are not exposed to any bet.

Bookmakers are not gamblers they are simply grafters the only risk they take is whether they get enough customers to pay their over heads, they are no more in the gambling business than Tesco's or Marks and Spencers.

They simply don't care whether the favourite wins or not, it's just a myth spread by the likes of C4's John McCririck.

Go to any racecourse and observer if any of the course bookmakers display any interest in the outcome of a race, chances are none of them will, it is immaterial to them, favourite or outsider it makes no difference. That is the whole point of making a book, it ensures your profit is the same whatever the outcome.

The only problem the big bookmaker have is being squeezed by the likes of Betfair and the online exchanges. I have just compared the 'overround' between the two on the Champion Hurdle and Hill's 120% don't look too good against the wafer thin 101% on Betfair (there would be some commision to pay on top of that I believe). I might have a flutter at those prices those are margins I have a chance of beating. They are similar to the 5% margin in online poker, which I have been able to beat, (albeit no so much lately but I seem to having a return to 'form' at the moment :) )
The problem though with horseracing and other forms of gambling is that they are open to cheating and there seemed to be too much of that going on before I switched to poker, the only form of gambling at which I know I have made a profit (have blown quite a bit of it recently though :( ) but I am still ahead after 2 years, and when you add in the money I would have lost on other forms of gambling if I were not playing poker then I am quids in.

I might have a crack at some of the Cheltenham races on the exchanges though just to see how I do, overrounds of 101% look very tempting!!

I might do an accumulator on all the favourites and see if it bankrupts William Hill if it comes in ;)

[tricky_colour]

I was on "finger on the pulse" in the 4.00, the jockey fell off just after the race started, was not even going over a fence. Now I know why I stopped backing horses!! That sort of thing seemed to happen to me on a regular basic, especially when I see a horse at a 'good' price. Seems like some people knew that horse was not going to get round!! So my 10p E/W lasted all of 10 seconds :rolleyes:
Robbed :mad:

[ForzaWexford]

I'm no bookie - but I work in one + my uncles are bookies - and believe me, they do not like it when favourites win!

Had Aran Concerto won today, for example, the shop I work in would have been withdrawing a lot of money instead of lodging some. And Denman - a heavily backed fav - was easily our biggest loss.

[tricky_colour]

Well you should try setting the price so it reflects the amount of money wagered on him, it would be daft not to. Then the only drawback to the favourite winning would be that you have do more work paying out a larger number of winners, other than that it would be immaterial who won the race. There is no reason for a bookmaker to ever lose money.

[Raheny Red]

The PaddyPower Gift Card is available in 50 Spar newsagents shops around Dublin and are in denominations of €25, €50 and €100.




Anyone know any Spars which sell there? Would they not be available in PP shops? I haven't got any credit/debit cards so this will be the easiest way for me to bet online.

[Dodge]

Would they not just be for betting in shops?

Get yourself a laser BTW, handy things to have

[Raheny Red]

Would they not just be for betting in shops?

Get yourself a laser BTW, handy things to have

These are the cards that I'm on about

here (http://help.paddypower.com/index.php?action=showPage&showSub=2&showPage=25)

Your Paddy Power Gift Card cannot be redeemed at Paddy Power shop outlets, they must be activated at point of sale. You can alternatively buy "Gift Vouchers" which can be used only in our Paddy Power Shops. e.g: Gift Cards are for use over the internet and telephone and Gift



Should be getting a laser soon just want something for the mean time.

[Dodge]

Seems fair enough. Wouldn't mind the odd gift of them either

[Raheny Red]

That's the end of that idea so......


Thank you for your mail.

Unfortunately gift cards are in the process of being phased out so not many shops sell
them any more.

If you have any further queries please do not hesitate to contact us.

Best regards,
Brian

[ForzaWexford]

If you want to set up online Raheny I'm nearly sure you can call into a Paddy Power betting shop and they can add money to your account from there. So just create an account and call into your local PP.

[Raheny Red]

If you want to set up online Raheny I'm nearly sure you can call into a Paddy Power betting shop and they can add money to your account from there. So just create an account and call into your local PP.

Oh right, I didn't know you could do that - cheers :cool: - have an account already and got a free tenner for no reason the other week :D

[bellavistaman]

im with boyles they do it too great policy.

[Raheny Red]

im with boyles they do it too great policy.

What's the minimum cash deposit with them. Paddy Power's minimum is €50

[bellavistaman]

i've put in twenty last week. i dunno what minimum is but its lower than 50 anyway

[onceahoop]

Would they not just be for betting in shops?

Get yourself a laser BTW, handy things to have

Betfair accept Laser Cards. You can also offer to lay at your own price. It's amazing the amount of people who back odds on thinking they're going to buy money. Just stay away from horse racing and remember the words of the late great Tom Dreaper trainer of Arkle when he got beat early on in his career. "the ground was wrong, the distance long, too early in the day". THERE'S TOO MANY THINGS CAN GO WRONG IN A HORSE RACE. One evening a mate and myself sat with the laptop and at the races on. In about 10 mins we laid 5 odds on favs on Amrican Racing and collected on all 5. Doesn't always happen but shows the perils of backing odds on

[Raheny Red]

Recently set up an online account with the EBS - anyone know what is the best way to deposit into my PP account?

Cheers :)