Australian racing

[Emmson]

Between innings on the lasses cricket the big race was broadcast on 5 Live Xtra

They just had some time on their hands to fill a gap - it's the Australian ABC feed.

[Euler]

Was going to review the numbers later. So that's interesting.

[Anbell]

Don't forget they were offering 0% last year. So that really set the markets alight.

I just checked back and the amounts matched at the off were almost identical in 2021 v 2020. Both about £1.3 million.

What price was the favourite last year?

[PDC]

Verry Elleegant BFSP was 4.85

[PDC]

Was going to review the numbers later. So that's interesting.

My figures are a bit after the off so not perfect but:

2020 = £1,332,521
2021 = £1,314,374

[Anbell]

Thanks.

I dont really have a rule of thumb for the magnitude of the change of matched vs % of the fave (apart from that it is positive)

Does anyone have a heuristic?

[PDC]

Found Randwick poor. The TO charge just kills it for me.

Caulfield was very good good and picked up some other good results along the way.

Time for some sleep before the afternoon fare at Ascot. Brilliant afternoon of racing awaits.

[Euler]

Found Randwick poor. The TO charge just kills it for me.

Caulfield was very good good and picked up some other good results along the way.

Time for some sleep before the afternoon fare at Ascot. Brilliant afternoon of racing awaits.

Ditto

[Phrend]

Hi All,

I'm new to trading so wanted throughts on the following - hopefully this is the right forum.

Tomorrows Geelong Cup - Tralee Rose very strong favourite - Lay $30 @ 2.30 liab of around $40

Back it for the Melbourne Cup $30 @ 30 = $925.

If it loses (in a big field) tomorrow you break even minus some comission.

If it wins then it's likely its odds halve so you can either trade to freeroll for something like $200 - $500 or take a small profit whatever floats your boat. Many winners of the Geelong Cup have gone on to win the Melbourne Cup.

Worst case scenario - it wins but gets injured on the line. 2nd worst is that it gets scratched before tomrrows race - you are out $30 on the cup?

Thoughts....

[PapaShango]

Hi All,

I'm new to trading so wanted throughts on the following - hopefully this is the right forum.

Tomorrows Geelong Cup - Tralee Rose very strong favourite - Lay $30 @ 2.30 liab of around $40

Back it for the Melbourne Cup $30 @ 30 = $925.

If it loses (in a big field) tomorrow you break even minus some comission.

If it wins then it's likely its odds halve so you can either trade to freeroll for something like $200 - $500 or take a small profit whatever floats your boat. Many winners of the Geelong Cup have gone on to win the Melbourne Cup.

Worst case scenario - it wins but gets injured on the line. 2nd worst is that it gets scratched before tomrrows race - you are out $30 on the cup?

Thoughts....

Maybe watch the Geelong Cup with the Melbourne Cup market open on your one click screen and see if your feed and your finger is fast enough.

Or do they suspend the Melbourne cup market whilst the geelong cup is being run ?

[Derek27]

Hi All,

I'm new to trading so wanted throughts on the following - hopefully this is the right forum.

Tomorrows Geelong Cup - Tralee Rose very strong favourite - Lay $30 @ 2.30 liab of around $40

Back it for the Melbourne Cup $30 @ 30 = $925.

If it loses (in a big field) tomorrow you break even minus some comission.

If it wins then it's likely its odds halve so you can either trade to freeroll for something like $200 - $500 or take a small profit whatever floats your boat. Many winners of the Geelong Cup have gone on to win the Melbourne Cup.

Worst case scenario - it wins but gets injured on the line. 2nd worst is that it gets scratched before tomrrows race - you are out $30 on the cup?

Thoughts....

If it wins and halves for the Melbourne, you lose $40 on the Geelong and your trade on the Melbourne only gains $30 in value, so any gain is lost in the cost of insuring your stake money.

[gazuty]

Hi All,

I'm new to trading so wanted throughts on the following - hopefully this is the right forum.

Tomorrows Geelong Cup - Tralee Rose very strong favourite - Lay $30 @ 2.30 liab of around $40

Back it for the Melbourne Cup $30 @ 30 = $925.

If it loses (in a big field) tomorrow you break even minus some comission.

If it wins then it's likely its odds halve so you can either trade to freeroll for something like $200 - $500 or take a small profit whatever floats your boat. Many winners of the Geelong Cup have gone on to win the Melbourne Cup.

Worst case scenario - it wins but gets injured on the line. 2nd worst is that it gets scratched before tomrrows race - you are out $30 on the cup?

Thoughts....

If it wins and halves for the Melbourne, you lose $40 on the Geelong and your trade on the Melbourne only gains $30 in value, so any gain is lost in the cost of insuring your stake money.

Derek has nailed it here. You want the reverse scenario. You want it to lose the Geelong Cup, collect $30 (ignoring comms) and now you have a "free bet" on the cup. You now cash out on the cup and you are ahead.

Now you need to do an E(x) which should be as follows:

E(x) = [Result if win] * probability of win + [Result if lose] * probability of loss

Result if win

You lose $40 on Geelong Cup. Odds on Melbourne Cup halve to 15. $925/15 = $61 then subtract $30 initial bet and hence you collect $31. You are down ($9).

Result if lose

You win $30 on the Geelong Cup. Odds on Melbourne Cup blow out to 80. $925/80 = $11.56 then subtract initial bet and you are down ($18.44). You are up $11.56

E(x) = ($9) * 0.43 + $11.56 * 0.57
E(x) = ($3.87) + $6.58
E(x) = $2.71

So looks ok (while not every scenario covered). And the biggest unknown is the odds movement on the Melbourne Cup post result, together with injuries etc

A lot of faffing about for $2.71 of value. After comms this could be zero. And then there are edge cases that I haven't covered that could reduce the $2.71 further. (Eg. in the result "if lose scenario" if the odds on the Melbourne cup blow out beyond 135 the E(x) turns negative).

////

And it won, so its the result if win. You'd have to jump ahead of the 17 on offer right now for the MC assuming you are not taking the 34.

Capture.PNG

[PapaShango]

Seems like a lot of faffing about for a few cents, and if it runs really badly you might not even be able to lay the 80 anyway.

Might as well just decide whether or not you fancy it for the geelong cup and back or lay accordingly.

Or if you wanted to try and nick a few dollars/cents, watch the race on the fastest feed possible with your mouse hovering over the selection you expect to shorten/drift in the MC depending on how it runs in the geelong.

[PDC]

Was going to review the numbers later. So that's interesting.

Did you run the numbers?

I saw this data earlier:

Key metrics from Carlton Draught Caulfield Cup last Saturday - domestic wagering turnover $143m (new record) up 11% YoY (2020 $129m, 2019 $97.5m). Heavy 8 v Soft 6 (2 upgrades this year). Starters 106 v 112 LY (down 5.4%)

Total domestic turnover for the 3 days of the Carlton Draught Caulfield Cup Carnival was $297m up 12.4% YoY (2020 $264m, 2019 $215m).

[PapaShango]

Didn’t read gazutys post properly this morning. Didn’t realise race had already been run. Bit late trying to be fastest finger now lol