Despite having just discovered that the Tooth Fairy is sadly not real, I am constantly surprised by unrealistic prices on the exchanges which simply seem to mirror bookmaker prices, maybe a point or so longer. Looking at 'how much money' has been bet on each horse, it is very common for the shortest price horse to NOT be the one which has attracted the most money! Perhaps somebody can convince me that the Tooth Fairy is sometimes true after all! Lol!
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Price fixing
- Thread starter peteraj
- Start date
Since Betfair have their own Sportsbook they can probably just mop up the bigger prices and lay them back. Could even be a bot doing it ...
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Old Vic
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this is happening but not in a bad way for customers. It is the Betfair Price Rush.
http://ads.betfair.com/redirect.aspx?pid=72451&bid=9316
Thanks, I hear what you say, but this still makes no sense. I am looking at 2 markets now where "horse A" has had 40,000 bet on it, "horse B" has had 20,000 bet on it, yet the price on A is 10-1, and the price on B is 4-1. Makes no sense, and suggests: 1. Betfair is terrified of Horse B, and has cut the price to dissuade punters, or 2. Wants the mugs to think that A is not fancied by anybody, so they will not bet on it! I know bookies play games, God bless them, and recognizing the game is a fair way to make money!!
Old Vic
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I see there is stuff in RP about it
CONCERN over the integrity of the starting price at all-weather meetings in Britain did not come as a surprise to some layers on Saturday following the news that book*makers at Wolver*hampton have been sent an extraordinary letter from the racecourse manage*ment warning them about "distorting artificially the betting market or starting price".
Wolverhampton's managing director David Roberts took the unusual step of writing to the track's bookmakers after his team became aware some firms may be laying off-course hedging money at starting price, as opposed to the odds prevailing at the time. The racecourse was concerned this could lead to accusations of price-fixing.
Although he does not bet at Wolverhampton, on-course bookmaker Glyn Jones was not surprised to learn the track's management had contacted the layers.
"You hear of these things, so it's not a complete shock, but we haven't been approached," he said.
"Obviously, some people want the SP shortened, and I can't see there is anything wrong with that, but it's how they go about it.
"I don't believe the money is coming from England. I'd have thought it's coming from Ireland.
"If someone in Ireland has money for a horse and wants it shortening up they should go about it the proper way - take the 4-1 and then the 3-1 and do it the right way."
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Peter I can see that what you say is right if they were all working on basis that they will just run a book to a certain % - maybe that isnt the case and every transaction is just a matched buyer and seller with possible hedging?
In some ways Betfair are the biggest arber there is.
CONCERN over the integrity of the starting price at all-weather meetings in Britain did not come as a surprise to some layers on Saturday following the news that book*makers at Wolver*hampton have been sent an extraordinary letter from the racecourse manage*ment warning them about "distorting artificially the betting market or starting price".
Wolverhampton's managing director David Roberts took the unusual step of writing to the track's bookmakers after his team became aware some firms may be laying off-course hedging money at starting price, as opposed to the odds prevailing at the time. The racecourse was concerned this could lead to accusations of price-fixing.
Although he does not bet at Wolverhampton, on-course bookmaker Glyn Jones was not surprised to learn the track's management had contacted the layers.
"You hear of these things, so it's not a complete shock, but we haven't been approached," he said.
"Obviously, some people want the SP shortened, and I can't see there is anything wrong with that, but it's how they go about it.
"I don't believe the money is coming from England. I'd have thought it's coming from Ireland.
"If someone in Ireland has money for a horse and wants it shortening up they should go about it the proper way - take the 4-1 and then the 3-1 and do it the right way."
---------------------------
Peter I can see that what you say is right if they were all working on basis that they will just run a book to a certain % - maybe that isnt the case and every transaction is just a matched buyer and seller with possible hedging?
In some ways Betfair are the biggest arber there is.