BETFAIR JOKE IN RUNNING

[Wonderlander]

And with regards to TVG, they talk about the exchange at lengths and than oh lets go to gulf stream over monmouth. That Frank Stronic has some agreement, he wont allow his tracks on exchange but yet they prioritize his tracks to show live at TVG.

[BIG49010]

I believe in Europe, they have rooms of TV's that are the old fashion tube type close to the tracks, where people go just to capitalize on the people at home watching on Digital TV's with Satellite feed.

This isn't a new concept, and I agree based on everything I have read about Betfair, you are the bait for them the shark!

[highnote]

Originally Posted by olddaddy

How can someone play a in race wager when there is broadcast delay? Arent the delays at least 10 seconds?

Do not bet in-running while watching on tv or internet.

I know of a group that bet in-running in England 15 or 20 years ago and had a direct satellite feed that was not delayed -- or it was delayed less than other tv feeds. They claimed to have made a million pounds (dollars) before they were shut off.

If you are at the track and can bet in-running then you should have a big advantage over people who are not at the track.

[highnote]

Originally Posted by Wonderlander

They suspend the race way before post time. What bs is this.

Suspending the betting before post time probably gives them time to lay off their bets in the pari-mutuel market.

They are smart enough to know that in order to create liquidity they have to seed the markets. They are smart enough to know how not to lose money.

As a bettor, you have to be smart enough to know how to win. You need to understand how the markets operate.

If you want to win on the exchanges, you have to learn to lay odds like a bookmaker and then balance your book so that no matter who wins, you win.

Learn everything you can about bookmaking. And then figure out if you are good enough to win enough to have a profit after you pay the rake.

[castaway01]

Originally Posted by highnote

Suspending the betting before post time probably gives them time to lay off their bets in the pari-mutuel market.

They are smart enough to know that in order to create liquidity they have to seed the markets. They are smart enough to know how not to lose money.

As a bettor, you have to be smart enough to know how to win. You need to understand how the markets operate.

If you want to win on the exchanges, you have to learn to lay odds like a bookmaker and then balance your book so that no matter who wins, you win.

Learn everything you can about bookmaking. And then figure out if you are good enough to win enough to have a profit after you pay the rake.

They don't actually suspend bets way before post time, but there is very little liquidity once the race starts.

As far as how things are going so far, this Bloodhorse article says wagering is slow. I'm not sure why $1.2 million bet on seven tracks is that bad compared to $2.4 million in pari-mutuel wagers on every track 4NJBets offers, but that's what the article states.

Exchange Wagering thus Far

[djm1959]

anything that confusing isnt fun to me,,, ill take the regular wagering that we all have done forever.....im poor i think all tracks should 1$ bets on wps,,exacta,,dd, and keep the 10c supers ive won over 1000 just playing the same numbers at 10c straight,,,,

most i ever bet on a horse to win was 30$ and yes he won by 8 in the levy final in the 80s at roosevelt(my bill forwood
-sonny patterson)

yea im a cheapskate but i drink expensive beers,,lol

mmmm beer

[biggestal99]

Originally Posted by castaway01

They don't actually suspend bets way before post time, but there is very little liquidity once the race starts.

As far as how things are going so far, this Bloodhorse article says wagering is slow. I'm not sure why $1.2 million bet on seven tracks is that bad compared to $2.4 million in pari-mutuel wagers on every track 4NJBets offers, but that's what the article states.

Exchange Wagering thus Far

1.2 Million is great start.

why anyone would bet PM to win when they have the exchange?

I have placed exactly one PM win wager since Jersey X went live (10 to win on songbird at evens).

Maybe they aren't up to speed on the X or too old fashioned to learn new things.

Allan

[castaway01]

Unfortunately, the sleazeball aspect of dealing with the NJBets/Exchange people has been increasing. Big things like screwed up one of my withdrawals where they...well, I wish I knew, but basically they credited me with more money than I had, then got angry when I noticed and basically threatened how it had to be taken away from me. Guys, I didn't steal it, you screwed up. So that was fun. Then there's their "take our survey and we'll send you $10" deal. Fine, I'll take the survey, what's wrong with a free $10? Well, when they don't send it to you, that's not a good PR move. Then there are the cancelled racecards where you have to fight tooth and nail for a couple buck refund (I guess they figure most won't bother). The nickel-and-dime crap gets old fast.

Since I was on here extolling the virtues of the site, I've got to be honest and say the awful customer service has really been turning me off lately.

[biggestal99]

Originally Posted by castaway01

Unfortunately, the sleazeball aspect of dealing with the NJBets/Exchange people has been increasing. Big things like screwed up one of my withdrawals where they...well, I wish I knew, but basically they credited me with more money than I had, then got angry when I noticed and basically threatened how it had to be taken away from me. Guys, I didn't steal it, you screwed up. So that was fun. Then there's their "take our survey and we'll send you $10" deal. Fine, I'll take the survey, what's wrong with a free $10? Well, when they don't send it to you, that's not a good PR move. Then there are the cancelled racecards where you have to fight tooth and nail for a couple buck refund (I guess they figure most won't bother). The nickel-and-dime crap gets old fast.

Since I was on here extolling the virtues of the site, I've got to be honest and say the awful customer service has really been turning me off lately.

I took the survey yesterday and got my 10 bucks today. I have had zero problems. I suggest if you really have had a bad experience you contact the exchange manager, he,s been very helpful when I needed assistance. The customer service people are hit or miss, but top management really wants to help. I can give his contact information if you wish. Hit me up with a pm.

Allan

[castaway01]

Allan, I appreciate it, but the situation is already resolved. What happened was actually that I was trying to fund my exchange account by transferring money from the NJBETS account (for those not in NJ, that's how it works, you deposit money and then transfer between the two as you see fit). The transfer didn't go through, but then some glitch developed where the transfer was constantly pending and every time the transfer didn't go through, money would be added to my NJBETS account. So (hypothetically), I had $5000 in there and tried to transfer $1000 out. The next day I had $6000, then $7000, then $8000. It was all pretty funny---until they shut my account down for "suspicious activity"---activity that they themselves were doing. Then I had to deal with the phone calls and their customer service. I was expecting apologies, maybe a waived customer service fee or something for my days of bullshit with this, or maybe just a resolution, instead I got the "don't do anything else strange with your account" lecture from some tool on the phone. And of course I was not the one adding imaginary refunds to my own account, that was their automated error. So I don't care how well the exchange works, if I can't fund the account to play it from then to hell with it. I can lose my money elsewhere.

[highnote]

castaway, your experiences are the reason I will never use betfair and encourage others to be very careful.

Check out these two stories and it will give you an idea of what you're dealing with:

"Betfair Will Not Reveal Technical Glitch": http://www.racingpost.com/news/horse...=last7DaysNews

"Betfair Void 600,000,000 GBP Layer": http://sportstradinglife.com/2011/12...million-layer/

If betfair is providing liquidity to their own markets in order to encourage betting then it only makes sense that they will limit their liability. If they make a mistake or lose too much they can easily say there was a technical glitch, even if there wasn't. But if you or I were to make a mistake, too bad. The technical glitch argument won't work for us. We will lose.

[whodoyoulike]

There were a couple of threads and a number of posts about a year ago of the way Betfair had badly treated individuals and their betting accounts without recourse. Apparently, there is no governmental oversight of Betfair's operating methods in the UK but hopefully in the US it will be different.

[appistappis]

the inplay betting model might be the future for the nfl and nba to grow revenues.

[RobertCalifornia]

What are the takeouts at betfair? TVG always shows Betfair paying more, than pari-mutuel betting. Is this because takeouts are lower, or because TVG is showing the exceptions? In play wagering doesn't really appeal to me even if betting was without problems. I'm also not too enthusiastic about bots running the site. Not a NJ resident, so doesn't really affect me.

[steveb]

Originally Posted by Pensacola Pete

It's called an "in play" wager; you can bet races and sporting events after they have started. Such wagers are banned in Australia, as the government feels that they're too addicting. All Australian-licensed sports books (most also carry fixed odds on racing) are barred from offering such bets, and betting exchanges (i.e. Betfair) are barred from allowing them to be accessed by Australian customers.

i could(and did) bet in play on australian racing and i am in australia.
admittedly it's a long time since i have been interested in betting, but out of curiosity i just logged in, and it appears that i have that option still.

and apparently you can still bet racing if what is on their site is correct.......

Where can I bet In-Play on Racing?

Australia – All Thoroughbred (except Victorian jumps) & Harness win markets.
New Zealand – All Thoroughbred win markets.
International – Thoroughbred win markets across selected racing around the world.


.....it is just sports where it is not allowed, and i had never bet sports anyway.