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Originally Posted by lamboguy
there is no such thing as one us players ever getting the best out of it in betfair. the guys on the otherside of the computer punching away are as pro as pro can be. they are making no mistakes.
i know this because when they first started i had a friend that lived in england bet first time starters that i gave him that i knew were good. when he first started betting he gpt a very big market for his money, he got down for 7 or 8 hundred pounds. 3 weeks later they wouldn't match 10 pounds for him. not only that the money seemed to find its way back to the track. i know that because i had him bet 10 pounds on a horse i knew was no good and the horse went off less than half of what it should have.
they should tell betfair to take a hiike and go scam the rest of the world.
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I can't agree with any of this.
If I place a bet at the exchange it's always because I am getting a better price than I could get at the track (sometimes much better). If even one of those horses wins (and many do), I made extra money.
If my money sometimes makes it back to the track and lowers the odds on the horse (which in big markets won't happen often), I am in an even better position than if I bet it straight into that pool to begin with because I am already locked in at the higher price.
If the other players are sharp and there's no extra value to be had on a lot of races, so be it. Then bet straight into the pools. But when extra value is available, it's a great thing and can make the difference between winning or losing or winning a little and winning a lot.
What you have to be careful about is booking bets. Some sharp players with inside information may put up large sums at odds slightly below track odds hoping to tempt players into booking large sums of bets. They could then get down a large bet on the horse at odds that are HIGHER than if they had bet straight into the pool.
