perth 14.20 28th april---1000/1 lays

[marcbrennan]

i see on the 14.20 at perth 28th april, some one is bookmaking 536 euros 4 times on on four different horses at 1000/1...am i correct in saying he or she would need 2 million in there account to do this..??
im a newbe .WHAT KNIDA CRAZY BUSINESS AM I TRYING TO GET INVOLVED IN ? SOME ONE PLEASE TELL ME WHY PEOPLE DO THIS.?of course i took a slice of it hoping to lay it off at 100/1 or so ...
comments appreaciated
thanks
marc.

[aligammack]

Very Interesting.

I don't normally look at races in advance so I wouldn't know if this is normal. Perhaps somebody else would like to comment.

Defo worth a cheeky bet and see if the prices comes in.

[enzabella2009]

i see on the 14.20 at perth 28th april, some one is bookmaking 536 euros 4 times on on four different horses at 1000/1...am i correct in saying he or she would need 2 million in there account to do this..??
im a newbe .WHAT KNIDA CRAZY BUSINESS AM I TRYING TO GET INVOLVED IN ? SOME ONE PLEASE TELL ME WHY PEOPLE DO THIS.?of course i took a slice of it hoping to lay it off at 100/1 or so ...
comments appreaciated
thanks
marc.

You dont need 2 million in your account to place 4 bets @ 1000/1 for 536euros. The biggest problem is to have this money matched. If you look on the reverse side you will find on every single races money queuing up @ 1.01 to 1.05 on every horses but, I think this is a question that only BETFAIR can answear.

[Euler]

If you have positions elsewhere then you may lay off at 1000 to hedge, though this doesn't look like this in this case.

[JollyGreen]

You would need a lot of money in your account to lay £200 at 1000 - £199,800.00 to be exact. However if the same person is offering the same amount on 4 horses it does not increase the liability by a factor of 4 because only one liability can be realised and in fact the more horses laid would reduce the liability by £200 each time. I would like to see a dead heat between two horses priced at 1000 pre-race!

[marcbrennan]

this is getting more weird ,,,last night i backed 20 x 2 stakes @ 1000/1 i didnt lay anything off or make more transactions. on my matched bets section in betangel it showed clearly i just backed 20x 2.00 @ 1000/1 ..this morning when i power up it showes 20X 2.00 @ 634/1 how can this happen ? should i call betfair ? any comments appricated ...
thanks
marc

[JollyGreen]

You will probably find there has been some non-runner(s) so there is a reduction factor applied to your bets.

Here you go

4. Plan A 35.7% 10:35 (UKT)

[lewismbet]

Someone else can confirm but I expect this will be related to a non-runner effecting a reduction factor [Plan A was Withdrawn at 10:35 and 35.7% Reduction Factor Applied]

[Photon]

The 14.20 Perth race must've had a very short priced favourite which is normally the case for an outsider to be priced at 1,000/1 mark. In this case you can lay all runners apart from favourite and therefore lay 1k runner without vaing 200k or so in your account.

Also, there may cross matching at work.

[Zapata]

If whoever took your £40 total bets now backs £25 at 1000/1 (still on offer) they make £14.

Plan A was indicated in the Racing Post as being a doubtful runner with an anticipated short price and large reduction factor.

Pretty much guaranteed profit but not for you unfortunately.

[freddy]

this is getting more weird ,,,last night i backed 20 x 2 stakes @ 1000/1 i didnt lay anything off or make more transactions. on my matched bets section in betangel it showed clearly i just backed 20x 2.00 @ 1000/1 ..this morning when i power up it showes 20X 2.00 @ 634/1 how can this happen ? should i call betfair ? any comments appricated ...
thanks
marc

The First thing to learn about Betfair is that it's full of very very shrude people.

The Horses were 999-1 for a reason, just a reason that was not known by yourself. Always be weary of things that look to good to be true, for the most part they are not mistakes it's just that they know more than you do.

Sorry if that sounds harsh but Betfair is a very cut throat world and people new to it can get eaten alive .
We have no doubt all been there at some point, you just have to learn the lesson and move on .

[enzabella2009]

Does anyone know why every morning I find 77K or 111K on 1.01 (lay) on every horses racing in the day? I can`t figure out the purpose of it..

[hgodden]

To get first in the queue for in play, I'd have thought

[freddy]

Just people getting themsleves at the front of the que for 1.01 lays, using the keep bets in play option.

[aligammack]

The First thing to learn about Betfair is that it's full of very very shrude people.

Very True!