Since 2009
£2.6m
£4.1m
£3.3m
£3.2m
£2.7m
£2.6m
But it tends to rise with a short priced favourite. The odd thing is underlying liquidity is falling. So despite volume being up the ability to get matched is going in the other direction.
Melbourne Cup. Which races are worth trading?
Possible reasons:Euler wrote:
But it tends to rise with a short priced favourite. The odd thing is underlying liquidity is falling. So despite volume being up the ability to get matched is going in the other direction.
- favourite at 5.5 needs a bigger percentage move per tick than if at 2.0 or 3.0
- strong betting since final field on Saturday evening for Tuesday race. Although that's long been the case it may cause significant differences to the biggest UK races
- Betfair crapping itself race morning meant the biggest punters went elsewhere meaning less late market moves
- Betfair higher Australian commission charges in recent years. Note that bookies operate to lower over-round on the Cup.