hen using the back all function are you better firing in the order when the the Book% is high (say 103%) or low (say 100.5%)??Bookmaking
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JWDSUMNER1
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- Joined: Wed Feb 23, 2011 3:55 pm
In BOOKMAKING w hen using the back all function are you better firing in the order when the the Book% is high (say 103%) or low (say 100.5%)??
hen using the back all function are you better firing in the order when the the Book% is high (say 103%) or low (say 100.5%)??-
oddstrader
- Posts: 344
- Joined: Fri Apr 16, 2010 4:55 pm
low ! because your are trying to buy under 100%, the book is in theory 100% so if you can buy it for less its guaranteed profit, hence why the bookmakers overround is 100+
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JollyGreen
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Err....bookmaking places lay bets into the market ideally you want the book % to be high because there is more margin.
Dutching places back bets and then the book % must be below 100%
ideally you want the book % to be high because there is more margin.Dutching places back bets and then the book % must be below 100%
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oddstrader
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if you are buying you want to buy 100% for less than 100 and if your selling you want to sell 100% for more than 100, the buyer neing the gambler and the seller being the bookmaker.JWDSUMNER1 wrote:OK. 1 each. Will take majority decision!!
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JollyGreen
- Posts: 2047
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The original question was should the margin be high or low when bookmaking. I assume you are using the "back all" as a description for laying all the runners at the back price?
That must be why Oddstrader advised low in terms of margin, I don't think he would mean lay at low margin when ideally the higher the margin the better.
So to clarify for the OP. When you are bookmaking you want as much margin as possible BUT you do not want horses priced >40 because if they are withdrawn there will be no reduction factor and that will cause you a loss. I used to make decent money using this function but the markets have changed in the last 4-5 years and it has become much harder to make consistent profits. I generally reserve bookmaking for the better handicaps we see at weekends or in some of the decent midweek meetings during the summer.
If you switch to Dutching the you need the book to drop <100% and whilst this happens it is pretty rare. You will mainly find it when a short priced favourite starts to play up, a horse or multiple horses dump their jockey. This also is not without its risks though. If the book drops below 100% for the reasons given and you back the field, you could find yourself with a nasty loss if that offening horse(s) don't run.
The opportunities offered by either of the above are becoming few and far between and I find you are generally better off trading the drift or steam that is causing the book % to rise and fall.
That must be why Oddstrader advised low in terms of margin, I don't think he would mean lay at low margin when ideally the higher the margin the better.
So to clarify for the OP. When you are bookmaking you want as much margin as possible BUT you do not want horses priced >40 because if they are withdrawn there will be no reduction factor and that will cause you a loss. I used to make decent money using this function but the markets have changed in the last 4-5 years and it has become much harder to make consistent profits. I generally reserve bookmaking for the better handicaps we see at weekends or in some of the decent midweek meetings during the summer.
If you switch to Dutching the you need the book to drop <100% and whilst this happens it is pretty rare. You will mainly find it when a short priced favourite starts to play up, a horse or multiple horses dump their jockey. This also is not without its risks though. If the book drops below 100% for the reasons given and you back the field, you could find yourself with a nasty loss if that offening horse(s) don't run.
The opportunities offered by either of the above are becoming few and far between and I find you are generally better off trading the drift or steam that is causing the book % to rise and fall.