Staking

[Aussieplayer]

Just thought I'd post this in case it's of any use to personal odds line users who haven't considered "grading" there bets. I think you get the same sort of idea from Barry M. (I think he bases it on kelly).

Anyway, 10 years back, one of our biggest bookies (Mark Read) launched his product, "Read's Ratings." These give you the contenders in each race with the rated odds. Average of 4 per race. Sometimes 5 (esp. big fields). Sometimes 3 (esp. short fields). You get them either by subscription, or free from a betting outlet that subscribes, which several do.

Profits made from the launch were donated to a charity. Can't remember exactly how much - but I think it was something like $30,000.

The starting bank was $50,000 and the units were $100.

There was a scale of "base uinits" according to rated price, which follows:

< 2/1 10.0
=2/1 9.0
9/4 to 5/2 8.0
11/4 to 3/1 7.5
13/4 to 7/2 7.0
15/4 to 4/1 6.5
4/1 to 5/1 6.0
11/2 to 6/1 5.5
13/2 to 8/1 5.0
9/1 to 10/1 4.5
over 10/1 4.0

(sorry if the table comes out bad!).

The formula used to determine a bet was simply: "available odds" divided by "rated odds" multiplied by "base units".

Example: Redelva had a rated price of 5/4 and an available price of 2/1

2/1 divided by 5/4 = 1.6
Look up the table and you see that 5/4 has 10 base units.
1.6 * 10 = 16

If you remember, units were $100, so the bet on Redelva was $1600.

As you can see, very kelly, but it might be of use to someone!

Cheers
AP

PS. Did you know you can now bet US racing on the x-change?

[Dick Schmidt]

Down Under Guy,

Interesting. Lot of ways to manage money out there.

Question: what is the X-change that takes American racing?

Dick

[Aussieplayer]

Dick guy, :)

Sorry, forgot to mention - it's the big one. www.betfair.com

They're not doing all tracks all of the time - but I noticed they're doing a good few tracks this Thursday (their time). I know some people who have changed from betting Oz races to UK racing because of the x-changes.

Betfair is now THE PREMIER x-change. Something like 2 BILLION in turnover predicted for next 12 months (or something like that).
You need good turnover to make a successful x-change.

I've considered the change myself to be truthful - it is a great concept. Not sure of your legal bits for betting your own races overseas?

Anyway, they're good people. I know someone who simply emailed them and asked them to cover the Melbourne Cup - and they did!!

So, if they got interest from US players - they would accomodate - simply because they don't lose out, & the punters don't either.

The only one's losing out are other bookies and totes (big time in terms of turnover), and they're ticked!!

Interesting to see how it all pans out over the next decade. It sure ain't the "passing fad" that Ladbrokes thought it would be!!


Cheers
AP