plenty of 'smarties' have thought the same - that a bookies license equates to a license to print money.

lol, couldnt be further from the truth, just go to a provincial/county track anywhere & ask the track locals for some bookie stories & enjoy the horror/comedy hour that will ensue.

metro tracks? yeh gods, takes a brave man with deep pockets, 'skinned alive' would best describe what can eventuate once you strap the bag on

if you want 1/2 an idea of what its like spend a day laying on betfair pretending to be bookie, you'll soon discover that your average punter may be a mug but will with regularity NOT do what you want him too, & for every dozen mugs theres a shark in waiting

Party, I don't think the bookies can flat out refuse a bet. I think they have to take a bet to lose a certain amount, depending on the area they work in. eg: in country areas they have to take a bet to lose $1000.
They haven't got an upper limit as far as I am aware.

Stugots, I definitly didn't consider the license is to print money, I realise there's a lot of brain power required as well to keep that book balanced. But what I was getting at is that LONG TERM the book has to win on %. Those horror stories you mention are usually where the bookie in question has an opinion on the outcome and so does not work to % (well that's how I understand it anyway)

JoeF, yes I read somewhere that they have to take 'A" bet, but then it's up to them, (again thats how I understand it)

well no doubt you gents and fems disregarded my top drawer
cleaned up today of course and for something differnt ive taken greek boys advice of sorts and bought a couple of nice reds instead of a meal
and im sure when i tell you i have developed a troting lay method there will be much haw hawing.....ty and good night
ps. this morning when i logged on to see if i had any funds left in my uk wallet be aaaaaaed there was an extra 275.00 in there yes thats right extra???
of course i didnt remember what i did so i checked on betfair and apparently i was taking my own advice ......good god

memo to self not to aaaaed up 85.00 see how we go do not go below 50

ok next newbury lay cosmea

for every dozen mugs theres a shark in waiting

That certainly is spot on in my experiences of trying to make books.
All it takes is one astute person to take you to the cleaners.

__________________
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No worries partypooper,
to answer you....

Opinion bookies go bust, but so do others.
It isn't aways balanced, in fact it is rarely balanced.
The bookie can only refuse a bet over his rails limit, he cannot refuse bets from different people.

He can refuse a bet to lose $10,000 from one guy, but cannot refuse bets to lose $1,000 from twenty guys.

Where this becomes a problem, is when there is a sharp tumble on one runner, every day at every track, there's always a "go" on one runner.

The bookie can't layoff because every other bookie is in the same boat, if he dumps it on the tote, he's making the loss worse,as the odds are usually worse and his cash will make a snowball avalanche, he can dump it on Betfair, but there's not enough liquidity to do so.

So he faces perhaps twice the payout on that horse than any other in the field, and probably for the day.

Enough "right" tumbles in a row could easily see your average bookie hit the wall.
Only the high rollers can weather the storm.

However, it also depends when it happens, if it's early he should be fine, because he can manipulate the book to cause less damage, but if it's a last minute dump (excuse the obvious toilet humour), he can be in serious trouble.

That's why the big boys actually pay for information and have a buddy network like the bureau of meteorology.
They signal incoming shrapnel.

I've been studying bookmakers for quite a while, the secret society, and have a leading bookie in Sydney emailing me often. I am extremely amazed at what a secret society it is, if your not a member, you are the opposition

Try and find bookies ledgers, bookies balancing books, bookies software on Google and all you'll find are vague references and garbage.

I have been educated somewhat though recently, by this bookie and my eyes have been opened somewhat.
It's a much tougher game than punting - believe it or not.
I never did, and now I have a whole new respect for the bagmen.

__________________
RaceCensus - powerful system testing software.
Now with over 400,000 Metropolitan, Provincial and Country races!
http://www.propun.com.au/horse_raci...ng_systems.html
*RaceCensus now updated to 30/04/2024
Video overview of RaceCensus here:
http://www.youtube.com/watch?v=W821YP_b0Pg

typical ...brag and though shalt be humped over by the ever watchful types not unlike your good self chrome
give me my money back ......lol never mind lindsey what comes round goes round

layed cobo im up thanks chrome i hope i have your cash