BETFAIR RESULTS

[parlay]

In the MIND SET thread i posted some results off the top of my head for my first foray into the world of betting exchanges. I felt i should provide the exact numbers as they are easy to get. Betfair allows you to download an excel file with all the numbers.I WAS GOING TO WAIT ANOTHER MONTH TO RUN THE NUMBERS BUT I DIDN'T WANT ANYONE CALLING ME A LIAR! LOL
Here are the hard numbers, i can provide the raw data if required.
A few notes on Betfair:
Minimum wager per runner is $6, there is a way around this but it is time consuming and i was not aware of it until recently.As well you may get only part of your action covered.
You can BACK or LAY, bet or book. I did venture into laying abit. i have not checked but am pretty confidant i am a loser on that end.Those losses are included in these numbers.
You can purchase Betfair approved software that will enhance your view of the market and reduce your order entry time (one click betting). I was not using any of these.
You pay commission on your net winnings per event. Rate starts at 5% and can be reduced by earning points. I probably averaged 4.75%, a 3% rate should be attainable.
THE NUMBERS

BANK $800.00
Total Wagers $17,589.68
Total Days 32
Total Races 973
AVG. Races per day 30.4
AVG. Daily Handle $549.67
AVG. Wager per race $18.07
Largest Wager $55.00
Largest Win (net) $392.49
Largest Loss (was incurred on a LAY) $58.60
Comm. Paid (this is aprox.) $593.46
Net pofit/loss ($173.88)
Gross profit/loss $419.58

All replys and input appreciated,
Michael

[Bluenose]

Welcome to our world.

[parlay]

Bluenose i assume you mean the world of betting exchanges as you are from
the UK. Thanks for the welcome. Feel free to chime in with any advice.

[Bluenose]

Ive been playing the US racing full time for 3 1/2 years on Betfair and love it. Best advice I could give anyone is this quote which hangs above my computer.

Learn the art of patience. Apply discipline to your thoughts when they become anxious over the outcome of a goal. Impatience breeds anxiety, fear, discouragement and failure. Patience creates confidence, decisiveness, and a rational outlook, which eventually leads to success.
Brian Adams

Good luck with your betting except when your betting against me!

[parlay]

Bluenose thanks for the good wishes.
Are you using any of the API PRODUCTS?
Do you have other markets that you bet into?
Do you do alot of LAYING?
Do you ARB?

[Bluenose]

Bluenose thanks for the good wishes.
Are you using any of the API PRODUCTS?
Do you have other markets that you bet into?
Do you do alot of LAYING?
Do you ARB?

I use the refresh tool from this site and have tried the other products and they are fairly useful but not for me.
http://www.gruss.pwp.blueyonder.co.uk/

I only have serious bets on US horseracing.

I back, lay and trade and mainly stick to one or two tracks a day but not running at same time as it gets too complicated.
You have a small advantage living in Canada as you may see the odd race suspended late on Betfair and be able to take advantage from that. If you are a trader you are at a disadvantage as the market often over reacts based on the pundits views on tv in the UK and you wouldnt be able to hear that.

[frenchy]

hi bluenose i m xelab from betfair, you stop posting on betfair forum ?? where is jas ??

[AngelEyes]

....... If you are a trader you are at a disadvantage as the market often over reacts based on the pundits views on tv in the UK and you wouldnt be able to hear that.

Bluenose,

We may not hear their views but probably contributes to the instances of Betfair odds being lower than actual track odds.

In general how do you rate the pundit's views ?

Also for US Racing, any idea what % of total money is bet by UK citizens ?

AngelEyes

[Bluenose]

The pundits have a tough job going through around 50 races per night and in general they do a fair job without being outstanding and giving any original insight to a race.

I would guess that 80-90% of the money traded on Betfair is from the UK.

You may have noticed that the NY tracks get little or no action on Betfair and this is because they arent shown on TV over here because NYRA dont want outsiders betting on their product. Didnt they just go bankrupt or something?

[westbridge]

BANK $800.00
Total Wagers $17,589.68
Comm. Paid (this is aprox.) $593.46
Net pofit/loss ($173.88)
Gross profit/loss $419.58


This goes to show the effect of rebate/low-takeout.

Your effective takeout was $593/17589 = 3.37%.
If you bet onshore @ 15% track take, you would had paid $2638 to the track. And you would have a negative balance by now.

[parlay]

Actually Westbridge i would have lost my bank much earlier and
had to put my wife back on the corner earlier than usual.LOL
This is the old argument that lower takeout ceates more churn
and higher profits.

[edoardopalomo]

Hi all, Hi Blue... I'm gianfreda on BF forum, I take a pause on usa racetracks since May when gld will restart... I've tried with golden gates and bay meadows but nothing compared to gld... so I've decided to go in michigan in may to spend in there alla the gld meetings, last year for me was really really good, I've also started betting also on exacta and trifecta with stan and william, it's absolutly amazing how the odds on exotics in gld are completly wrong :) ... if u are interested in one week in gld u could contact me, I think I'm going to rent a small flat in there...
Bye

[BIG49010]

GLD? You would travel to GLD, I would try your method for a few years before I made a trip. I have been there, and I hate to burst your bubble, but if Stronach gets slots in Detroit, that track will not be there for long.

Good luck

[edoardopalomo]

"I have been there, and I hate to burst your bubble, but if Stronach gets slots in Detroit, that track will not be there for long"

Sorry but my english it's so poor... I didn't understand what do u mean!

[BIG49010]

GLD will close, finito, finished, bye bye, end of story

GLD was a harness track, and when Detroit Racecourse closed, Jerry Campbell and some friends bought GLD and changed it to T-breds. When they lost too much money, they sold to Magna, who has leased it to someone so Magna can get a track in Detroit because you can only own 1 track in Michigan.

I am surprised Betfair would take a track like GLD, years ago bookies wouldn't touch a bet from Detroit Racecourse, I guess thats the attraction for someone on Betfair. Do you layoff or back horses at GLD?