Are there any bookies around that accpet tiny bets?
ie under $1? Am just keen for a bit of a play on a target betting system I have been working on, but am keen on trying it out with tiny stakes first to see how it goes. Betting on paper it is all coming up roses, but would like to have a play with "live ammunition" before betting anything half decent on it. Have looked at a few such as IAS and the TAB's, but they all seem to have $1 or $2 minimum bets.

Cheers

If you're talking that tiny, you may as well 'paper' trial it and not bet at all.

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G'day Thorns,

Open up an account with Betfair. I believe they have a policy of $6 minimum bets, but this is overridden when you use an add-on software called BetTrader, and lets you place bets as small as $0.01.

I was quite skeptical of Betfair in the past, but I finely gave in to the curiousity a month ago, and opened an account with them, just to see what it's all about. I admit it took me a few days to get my head around being able to lay horses, but I tell you it has really opened up a whole bunch of new doors for me. Plus, I'd say 90% of the time, you get better odds than those available elsewhere (just make sure you allow for the 5% commission on profits).

I starting off with a bank of $300, just to play with until a got a better understanding of how it all works. Within 2 weeks, I had turned that $300 into $1,000. Flush with confidence, I then decided to deposit another $700, so that my overall contribution to my betfair account would be $1,000. And now, 2 weeks later I've built the bank up to nearly $5,000. Yesterday alone, I made over $600. I've made most of the money through trading and laying, but still use BetFair to back my normal Saturday system selections too.

It's a great feeling knowing you don't have to bet with some of the other corporate bookie websites out there, and that you get better prices too. I know all this sounds a bit like one of those fake testimonial, but I think BetFair is exactly what Australia needed. Viva revolution!

SnS

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...time held me green and dying, though I sang in my chains like the sea. - Dylan Thomas

Silver_and_sand, I am also intrigued but that 1 &1/2% charge on deposits kills me off. like I'd be happy to make 1 &1/2%??????? on turnover that is!

I'm pretty sure that 1.5% charge is only for deposits by credit card . Every other method of deposit is free. Link

I used Bpay and it was free. From memory, my funds were in my BetFair account 2 business days after I made the Bpay payment online.

I'd definitely recommend giving BetFair a go, though having said that, I'd also then recommend using BetTrader to access and utilise BetFair for it's efficiency, speed and lack of minimum bet. You could snag yourself some pretty ripe prices
on your PPM's...lol.

You'll never look back. Good luck.

SnS

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...time held me green and dying, though I sang in my chains like the sea. - Dylan Thomas

Bets below the minimum bet size of $6 are contrary to the terms and conditions. Earlier I posted an example of how Betfair can arbitrarily permanently close your account and seize your profits.

Last time I checked it costs money to use Bettrader. If you're worried about the cost of small bets, spending extra money on tools is a curious economical strategy.

Betfair's latest initiative of penalising virtually all efficient long-term winners is so staggering, that it has even managed to break out in the media, which Betfair (along with Tabcorp and many other publicity-sensitive outfits) has invested vast sums to influence.

Could you please elaborate about this, what changes have occured?

Michal

It is all over the Internet.

As a google news for "betfair charges" will confirm.

In essence it is a deliberately convoluted initiative which retrospectively slugs long term winners whatever necessary to garnish 20% (22.5% according to others) of winnings.

I'm amazed no one here has started a new thread about this, so suggest someone does. Unless everyone here is unaffected because they have given up all hope of ever becoming a winner.

Thorns,

You can bet on the TAB [s-tab anyway] for as low as 50c. as long as they are on-line bets so you would need an account. Alternately those auto-bet machines at pub tabs. etc. also allow 50c bets or can be used to deposit cash to your account.

I have often used my TAB account and 50c bets to do real-time trials with systems. Not the best odds but credit facilities are not required as deposits [and withdrawals] to an account can be made at any pub tab. Serious betting can always be shifted to Betfair or IAS etc. at a later time.

It's hardly worth a thread. less than .5% of customers will be affected.
Basically it is designed to get people who previously did not pay their fair share of commission to pay it (traders, arbers etc). They also must be winners.

Anyone who is currently paying their fair share of commission is unaffected.

Anyone who is affected is going elsewhere.

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