Saturday

[rhysmr2]

I made £5.09

I was expecting the usual rubbish Saturday so I was experimenting, lost over £200 in 2 races so destroyed my profit for the day.

[Bet Angel]

Would the formation of Companies such as Centaur, for example,be responsible for the heavy trading on some markets.

Not at all, Centaur just don't put any reasonable stake through the market according to their own published records.

You have another problem hoever, given my track record I could probably raise a lot of money. But I don't plan too any time soon. It's a nice idea but the main problem you have on Betfair is scalability.

I had rather hoped that Betfair would have grown a lot more than it has, but because it hasn't I can't see how I would deploy more money in the market. The market works great with small amounts but not so good with larger amounts. This is mainly thanks to instant settlement.

With instant settlement you can turnover enourmous amounts of money at little risk with a very small bank. You don't actually need a huge capital base to work from. It shows up a flaw when people ask for more money on the basis they think it means more potential. There is actually little need to use large amounts in most cases.

With small bank sizes you can turn huge percentages, but as that bank size grows you just can't use the money available. When you use more money you can't get orders filled and that means more risk and poorer results, or you need to 'take out' more prices to get filled and that means your strategy becomes net negative, it just doesn't work unfortunatley.

You also run out of space thanks to transaction costs, data usage charges and there are also tax implications if you don't do things just for yourself. Good news though is that newbies or smaller participants have plenty of room and can achieve good results.

[Krzysztof]

It isn't saturday today, but anyway, isn't it really tricky today? I'm finding markets really hard to predict, unexpectedly changing, especially Cheltenham.

[rhysmr2]

It isn't saturday today, but anyway, isn't it really tricky today? I'm finding markets really hard to predict, unexpectedly changing, especially Cheltenham.

Well I'm struggling more then any other day this week but I was expecting it because larger meetings I always find harder.

My betfair seems to be running really slowly on the odd occasion today too

[Bet Angel]

The markets feel very 'slow' today to me. They are lacking excitement or much of interest, not many clear cut opportunties etc. Yesterday was fine.

[oddstrader]

yip i second that! been flatlining for the last hour

[rvdart01]

Peter,

To come back to your earlier post, if you started a 'fund' (albeit not too large) with some client money - let's say put money from a few of your friends -, any gains (shared pro rata by your friends, as clients) would be tax free for them, wouldn't they ?

[giulio2010]

If you had total controll of the market,( it`s only possible with big bankrolls available), and you make 100k a week, you pay 25% to betfair and 30%,40%,50%taxes I think is still worth it, even though are charges or taxes to pay....dont you think?

[Bet Angel]

Peter,

To come back to your earlier post, if you started a 'fund' (albeit not too large) with some client money - let's say put money from a few of your friends -, any gains (shared pro rata by your friends, as clients) would be tax free for them, wouldn't they ?

My understanding is that tax would be due on this as you are providing a service to them.

[rvdart01]

If clients pay a 'management fee' or some sort of service charge (say 25% performance fee) to the company managing the fund in which they have invested, would the tax not be paid by the company (as corporation tax), leaving returns to the investors tax free ?

Anybody has any thoughts or knowledge on this subject ?

[Bet Angel]

Typically, if people ask me about tax I'll usually refer them to a specialist. Circumstances can vary a lot by individual and for the process they are undertaking. It's tough to give accurate generic advice IMHO.

[Exacta]

Two Irish races on tomorrow, but that aside Saturday looks OK this week.

[Bet Angel]

It all feels fairly steady to me today so far. The odd clash with Newm bumping into Kelso but I wasn't expecting much from that meeting anyhow. How is everybody else doing?

[hgodden]

I don't like putting a curse on things by talking it up this early in the day so all I will say is it hasn't been bad at all

[Dobbin]

Cheers BA

Not too Shabby

I pick my races beforehand

I Level Stake my 2 Selections

So far so good
Catterick 1:45 Eijaaz Chocolate Caramel
Newmarket 1:50 Delegator Red Jazz
Catterick 2:15 Style And Panache El Viento
Newmarket 2:25 Frankel Saamidd
Cheltenham 2:40 Classic Swain Edgbriar
Catterick 2:50 Cara's Request Northern Flyer
Newmarket 3:00 Poet's Voice Twice Over
Kelso 3:05 Lindseyfield Lodge More Equity