Betfair, genuine help requested
 

G'Day all, I am reliably informed that while I've been away betfair is allowed in WA? ok so warts an all tell me why/what/how should I make the change?

I usually make about 10-15 VERY large place bets a week (best tote) and about the same number of "fairly large win bets" @ usually top fluc. most of the bets are placed b4 racing because of other (work) commitments.

I also make a number of ....well less significant win & place bets (most of the time) @ best tote or top fluc.

I ask the other members of this forum, can I benefit by switching to betfair and how??

pp, if you're taking Top fluc then you can look at Betfair's new SP option. You can set a Limit for the Starting price. I do it especially if I know I'll be out and not punting 'live' so I'll enter my bets with Limits in the morning. You may need a good estimate of what the odds will be to set your Limit, but for Mel/Syd races IAS normally have their odds first thing Saturday morning.
In UK races you could set Limits for Place bets as well.

schonegg, this all VERY new to me, but that's the sort of stuff I'm after, thanks a lot, VERY interesting. I presume what you mean by setting limits is that you can stipulate a minimum price? at this stage I'm still not really interested in the laying side of things ..... YET!

Hi party .
Here are a couple of tools that are very helpful in getting your bets on more smoothly & can bet below the Betfair min amount.

Bet Trader Pro (Free) Google RacingTraders.

Betfair Rapid (Free)

Fairbot (15 day free trial) this is excellent & worth the price.

Some of the Betfair prices are amazing, sometimes double & triple to that of say the TAB.
For instance I got $8.80 for a horse that was showing $3.60 on the TAB at jump time & it won.

It is also an interesting exercise to look at the TAB fav at 30 secs till jump then compare its price to Betfair.
The difference can be 50-200% difference

I would maybe compare the Bookie price with betfair & go from there.

Cheers.

pp ive been using betfairs sp service for both win & lay betting for a while now without any problems

couple of things as it sounds that, like myself, you will often need to place bets early & therefore use the sp option -

-you can set a minimum price for your win bets & a max odds/liability limit for lay bets

-sp is not available for place betting

-sp is not available for all aussie meets - eg 'qr' meets & the 2nd meetings at
prov/country tracks not covered, although i hear that will change once demand is met

-theres no guarantee that all of your larger bet would be matched using sp, which could be a tad disappointing if the nag salutes, but if your betting in the short end of the market at major meets i would think this unlikely to happen very often if at all

theres probably a few more issues but thats all i can come up with this early in the day:)

If you use Betfair SP without a limit then you can expect to get fleeced.

If you use Betfair SP with a limit then you can expect to get fleeced. But not as much.

BSPs have been matched @~1.01.

So all a fleecer has to do is offer lays much lower than true odds.

On occasions those will be matched by the Betfair SP algorithm.

Particularly for large SP bets.

From your description you arent going to benefit much at all. As you place your bets on well before betting starts unless you get a bet bot of some description then you will have have to set a price before hand. Set it too high and you wount be matched set it too low you lose out, factor in the 2-5% commision Betfair charges EACH WIN. Depending on how large your VERY large bet is you may not get it all matched.


Sure there are some very good overs compared to TAB but unless you can sit there and pick them out and of load your bets onto the TAB if you can get a getter price there and I see that quite often although most times you get better on betfair. You can also take advantage of the SP when available but I would geather that you wouldnt quite enjoy sitting there and put that bet there and that bet over here at SP and that bet here at this price ........ consisntency is where you catch the swing atleast once every swing as soon as you start to get too trickie you will miss out here and then when you come here you will miss out there and ........

A bet bot would solve most of the matching problems but wount compare the price between what is available and it makes it quite imposible to do so as the TAB can flactuate so you never know what you get atleast betfair once you are matched the money is set.

Best of luck

Michal

Thanks everyone but it all sounds too hard to me, like maybe I would benefit but maybe not, and I've got to sit there for many hours.
At this stage I think I'll just carry on what I'm doing until I'm in a position to make that next step.

agreed




disagree

on average my win bets are matched at > than the tabs final divs. after commission of course

one thing is for sure however - tab betting results in one ALWAYS getting fleeced

hey party, which bookie are you using to get best tote for place betting? That would be a god send for me and my place betting.