Heavy Backing of Withdrawn Horses

[Diggy1884]

Hello everyone,

Seen this a couple of times and wondering what is going on?

Horse has jumped out of the stalls, withdrawn, the market goes wild. But there is still one or two large backers on that horse, after it's been withdrawn and most everyone knows.

If all bets get voided, then what do they have to gain?
Are these people exploiting some commission loophole or something? The order arrived in the market after the breakout.
Or...
Are people that stinking rich that they throw money on a horse despite not knowing it has been withdrawn?

Strange stuff anyone got a clue?

[Crumpets]

Probably the same guy who was burning through his money the week or so before the World Cup started. Tournament goes on a 2 day break, and back he comes.

He was backing that horse for a long time prior. Then i assume he wasn't watching the live pictures, so got all excited when the price suddenly drifted about 10+ ticks "Bargain!!"

[wearthefoxhat]

Hello everyone,

Seen this a couple of times and wondering what is going on?

Horse has jumped out of the stalls, withdrawn, the market goes wild. But there is still one or two large backers on that horse, after it's been withdrawn and most everyone knows.

If all bets get voided, then what do they have to gain?
Are these people exploiting some commission loophole or something? The order arrived in the market after the breakout.
Or...
Are people that stinking rich that they throw money on a horse despite not knowing it has been withdrawn?

Strange stuff anyone got a clue?

Before the exchanges, on-course bookies were notorious for shortening horses that were about to be withdrawn to ensure there was a greater Rule 4 deduction applied to the Non-Runner. Nothing to do with it getting backed.

The thinking behind doing this on the exchange maybe a similar one as it can create carnage of someones' traded position with the caveat it's money back on the NR.

[Diggy1884]

Cheers for the replies!

That is interesting indeed with the Rule 4/on course bookmakers' nice info! I will dig further when time permits, thank you for that nugget!

As for Johnny big balls with his 'mega price' on a NR you've got to have a cackle aye

[ShaunWhite]

There's good reason to move the price on a definate withdrawal if you've got an interest in any of the others as the overround is kept tight by bots. The only concern would be it not being withdrawn afterall, otherwise you can stake whatever it takes knowing you'll get it back.

[Dallas]

There was a funny instance of that a few years ago (I think Peter done a video or blog on it at the time), but someone threw tens of 1000s at a horse around 100.0s and brought its price right into about 4s expecting to to be withdrawn any second - but it wasn't and he/she had horrible task of trying to dump five figures onto a runner that was already price around 100 before it started playing up

Only takes one misjudgement and it can be very costly

[Derek27]

I made the mistake in my early days, as I'm sure many have, of digging into a "good thing" with my £200 account balance without realising a distorted overround, manipulated market or horse unlikely to start, etc. But these lessons need to be learned when you start trading. How anybody managed to build a bank of £10Ks without learning basic restraint beats the hell out of me.

[Ronan1001]

I made the mistake in my early days, as I'm sure many have, of digging into a "good thing" with my £200 account balance without realising a distorted overround, manipulated market or horse unlikely to start, etc. But these lessons need to be learned when you start trading. How anybody managed to build a bank of £10Ks without learning basic restraint beats the hell out of me.

It seems impossible to build a big bank at all without emotional restraint. This requires individual courses