Bookmaking
From: rubino
To: afropunk or any Trader
Hi
Can I ask you as I'm new to this, but with bookmaking what sort of stake would you use to make reasonable money.
Do u use a max stake of X or do you go for a set target profit of so much ?
I don't understand how it works really
Any advice would be really appreciated
Regards
Rubino
Bookmaking
I usually use a total stake between £100-£1000, depending on the liquidity of the market. Basically I assess this by seeing how much money is in the back/lay sides and look at traded money, and if my order is too big then I would adjust my stake accordingly. I would say start with smaller books just to test things. I started with £25 books and built my way up, I think this is a good way to start as an error will not cost you much, and as your experience and confidence grows, so does your total stake.
I look for a small margin of 101-105% (usually 102%). Typically making the book at the back prices provides an adequate margin. The trick is to take a bit from each runner and not get obsessed with profiting on every race. If it goes against you cut your losses and scratch/red up. Just remeber there is no need to go in running, over the long run you will be well in profit, it just not worth risking your whole stake on any race. Hope this helps
I look for a small margin of 101-105% (usually 102%). Typically making the book at the back prices provides an adequate margin. The trick is to take a bit from each runner and not get obsessed with profiting on every race. If it goes against you cut your losses and scratch/red up. Just remeber there is no need to go in running, over the long run you will be well in profit, it just not worth risking your whole stake on any race. Hope this helps
Sorry Robihno haven't browsed the forum too much recently. Looks like thngs have picked up here, which is great, with so many posts to catch up on. Might need a pot of tea to get through all of this 
In answer to your question I would manually close out in the manual bets tab as you know where you stand with an overview of the whole book.
Looks like you're doing well and selling a system already! nice one brother just ease up on using the forum for selling, you're going to irritate a lot of people if you keep doing that
Peace
In answer to your question I would manually close out in the manual bets tab as you know where you stand with an overview of the whole book.
Looks like you're doing well and selling a system already! nice one brother just ease up on using the forum for selling, you're going to irritate a lot of people if you keep doing that
Peace
Hi Jimmy,
I'm not aware of any vids showing the bookmaking feature used effectively. The way I learnt is through trial and error with small books of £20 just to test things out. Maybe you could request for Bet Angel support to upload an example somewhere (if they haven't already). I think I saw a thread on this forum where they were asking what videos people would like to see, might be worth responding to that if you can't find anything decent on youtube.
I'm not aware of any vids showing the bookmaking feature used effectively. The way I learnt is through trial and error with small books of £20 just to test things out. Maybe you could request for Bet Angel support to upload an example somewhere (if they haven't already). I think I saw a thread on this forum where they were asking what videos people would like to see, might be worth responding to that if you can't find anything decent on youtube.
I've been stung by bookmaking and dutching due to horses withdrawing from the racing. Peter even meantions this as a hazard in his own Bet Angel guide. I have a habit of making these tiny profits and then a monster loss comes along and wipes everthing out and you have no chance of making it back.
Horse racing seems a risky business due to the risk of horse withdrawals - if there are no withdrawals then there is no problem but beware of this risk.
Horse racing seems a risky business due to the risk of horse withdrawals - if there are no withdrawals then there is no problem but beware of this risk.